INSUBCONTINENT EXCLUSIVE:
In an effort to reduce its dependence on China for solar power, Europe is shifting its focus to fortifying its own capabilities.This intent
was underscored at the Intersolar Europe 2023 trade event in Munich, Germany, where the emphasis was on Europe reclaiming photovoltaics (PV)
production to achieve energy autonomy and establish a durable, resilient energy system.The European Commission has endorsed this approach
through the creation of the Solar Photovoltaic Industry Alliance.This alliance aims to reach an annual solar energy manufacturing capacity
of 30 Gigawatt by 2025 across the entire PV value chain, as per the European Union Commissioner for Internal Market, Thierry Breton.This
behind the projected installation demand.Europe seeks more independence from China in solar power production
(Photo Internet reproduction)To tackle this issue, the EU is targeting a self-sufficiency level in PV module production of 40% by 2030.This
goal will necessitate considerable private financing, bolstered by EU policy funds.Despite having a well-established solar power supply
chain, Europe lags in terms of economies of scale.McKinsey - Company reports that European companies only hold a small share of the global
market for solar polysilicon, ingots and wafers, solar cells, and PV modules.Nonetheless, recent efforts from companies like SMA Solar
InnoEnergy at the helm of its Solar Photovoltaic Industry Alliance.
