Last year was another landmark 12 months for energy storage, with all indicators pointing to a massive surge in demand. Supply chain instability and inflation saw battery prices rise but the industry demonstrated an ability to swiftly react to geopolitical developments. We look at five trends driving the market.
REC Solar has announced plans for a PV module gigafactory in France, along with 17 other clean tech projects that will share €1.8 billion ($1.8 billion) of grants from the European Union’s Innovation Fund.
Wood Mackenzie says Europe would need to dramatically raise its PV production capability to ensure the 420 GW-plus of new solar it wants this decade does not arrive in the form of Asian panels.
Having warned of in-house solar wafer and cell capacity as recently as the third quarter of 2021, the company has announced it will be adding even more production lines this year.
Analyst Wood Mackenzie has predicted soaring demand for electric vehicle devices will ensure supply will not keep pace with demand until some point in 2023.
The European Commission has alleged China offered cut-price finance to Indonesia, via Beijing’s Belt and Road drive, so Jakarta could develop domestic demand for stainless steel raw material nickel ore.
The bloc should accelerate investment into mining and processing within its shores, as well as ramping up recycling, according to European employers and trades unions, with coal workers already equipped with the necessary transferable skills.
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