One of the primary catalysts for the prevalent global emergence of subsidies within the renewable energy sector stems from the dominance of China, research firm BMI Research operational risk analyst Keaton Fitzpatrick has said. Speaking at a webinar hosted by BMI Research – a Fitch Solutions company – titled ‘Subsidy Wars and The Energy Transition, The Race To Develop Low Carbon Energy Manufacturing’ on August 24, he said China had unequivocally established its preeminence across the global energy supply chain, encompassing vital components of renewable energy, as well as the critical mineral provisions and corresponding market domains.
One of the primary catalysts for the prevalent global emergence of subsidies within the renewable energy sector stems from the dominance of China, research firm BMI Research operational risk analystSpeaking at a webinar hosted by BMI Research – a Fitch Solutions company – titled ‘Subsidy Wars and The Energy Transition, The Race To Develop Low Carbon Energy Manufacturing’ on August 24, he said China had unequivocally established its preeminence across the global energy supply chain, encompassing...
While the share of global wind turbine supply attributed to China-based manufacturers stands at about 50%, the dynamics underpinning this segment are undergoing discernible transformation. This metamorphosis can be ascribed to the mounting cost pressures faced by European manufacturers, emanating from escalated material prices for metals and input expenses driven upwards by elevated power costs resulting from the Russian incursion into Ukraine.
As both American and European markets expedite their transitions towards sustainable energy paradigms, the imperative of securing their supply chains has ascended to paramount importance. This strategic undertaking is geared towards mitigating the vulnerabilities associated with potential disruptions during the course of their renewable energy initiatives.
Monaisa said subsidies hold the dual promise of bolstering both investment and production within the realm of green hydrogen, thereby catalysing the advancement of nascent projects from their embryonic planning phases. Tier one markets for green hydrogen encompass the EU, the US and China. These markets command notable green hydrogen subsidies, robust hydrogen production infrastructures, and heavy industries that can serve as significant offtakers.
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