SolarPower Europe President Aristotelis Chantavas said that trade barriers might not be the most effective approach. Instead, he urged the European Union to look to the US Inflation Reduction Act as a model when shaping its industrial strategy. Under this program, the US authorities have allocated approximately $400 billion (€380 billion) in investment incentives for various emerging industries. The energy sector, including the solar industry, received incentives of $250 billion to encourage more investment and the establishment of production facilities across the United States.
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