The European renewable energy supply chain is under pressure from rising energy prices. If electricity costs don’t immediately return to normal levels, up to 25% of Europe’s battery and solar production might be put on hold.
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Audun Martinsen, Rystad Energy’s head of energy service research, stated that high power costs “not only represent a substantial danger to European decarbonization efforts but might also result in an increase in dependence on offshore manufacturing.”
Solar Energy Production
As solar and battery producers confront rising costs, Europe’s attempts to establish a trustworthy low-carbon supply chain and meet its decarbonization goals are being hampered by record-breaking power prices. According to a Rystad Energy study, if electricity prices don’t immediately return to normal levels, 35 gigawatts (GW) of solar PV…