The EU’s efforts to manufacture more green technologies are being undercut by cheaper rivals.
| Europe’s solar power industry has warned that a glut of cheap Chinese imports has pushed some manufacturers to the brink of bankruptcy, hampering the EU’s efforts to boost local production of green technologies.
The EU is hoping that solar power will become the biggest generator of energy within the bloc as it tries to reach a target of having 45 per cent of energy generated by renewables by 2030 — a goal set to be voted on by the European parliament this week.
Brussels has not reinstated them since, despite recently pushing European companies to “de-risk” their supply chains from China as part of a wider effort to reshore manufacturing amid heightened geopolitical tensions.The dramatic drop in prices meant the EU’s goal to manufacture 30GW of the solar power supply chain in Europe by 2030 was now “at serious risk”, the letter said.
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