As the energy crisis deepens, creeping more and more into aluminum territory, the future of Europe’s solar and battery cell manufacturing becomes less certain: 35 GW of solar PV manufacturing and more than 2,000 GWh of battery cell manufacturing capacity could be mothballed unless power prices quickly return to normal levels.
Over the first eight months of this year, Europe imported 60.1 GW of modules from China, 127% more than last year’s level,
as Chinese products are cheaper to make due to lower power costs and are, therefore, more attractive to buyers. In our previous publications, we mentioned the West’s growing dependence on developing countries, which are rich in metals crucial to the energy transition. Now it appears that this dependence is not just about metals but end products as well.
And while Europe’s energy sector is in malaise, there’s no bright future for either aluminum or renewable energy.