The global demand for solar power is surging at an unpredictable rate. In such circumstances, Europe has been paving its way to emerge as a climate-neutral society by 2050. Can businesses in Europe achieve such a competitive position in globalized supply chain management? The ambitious path is challenging due to the complications of the Ukraine conflict but exists with potential rewards. The 3rd Annual Floating Solar PV Forum to be conducted from 27th-28th June in Amsterdam, Netherlands shall emphasize the same.
Keep on reading to discover more!
Solar Energy is Poised for Growth: 3rd Annual Floating Solar PV Forum
Solar PV is the critical component of the clean energy transition occurring worldwide. The concept underpins your efforts to reach the international-level energy and climate goals.
In the last few years, the installation of solar PV across the world has increased in massive numbers, while drastically getting reduced in costs. Europe is planning a substantial ramp-up of solar PV (Photovoltaic) based electricity to address the challenges of energy resources including the climatic-related goals.
On the path to accomplishing net zero emissions, Europe is all set to expand the supply chain readiness for Solar PV on an even greater scale. Amidst the rising concerns about the security in manufacturing and supply, Europe is making the expansion with increased growth rates and offering new, exciting opportunities for diversification.
Diversification is one of the vital strategies implemented due to the risk and challenges of developing the solar PV supply chain. It encompasses investment requirements, job creation, emission, and recycling.
European Businesses are on the Path to Competitiveness
EU solar energy strategies include the installation of solar PV with a 750 GWDC target by 2030, reprising the considerable progression in the annual installations.
European businesses have started to respond to the strategy, which will bring capabilities in pre-scaled production systems. However, despite the benefits of reducing solar PV costs, the geopolitical aspect is evolving to new heights.
For instance, the Ukraine conflict has exposed the risk of importing critical energy, where Europe becomes a sensitive region for the supply chain risks with solar PV products.
The concerns regarding polysilicon production have added to the challenges for European companies. Even in the rising challenges, the EU tends to steadily progress in the solar PV stories, by establishing a viable plan and committing to a ‘whatever it takes’ plan to succeed.
Factors Affecting the Solar PV Expansion in Europe
Several factors affect the path to competitiveness for leading the solar PV expansion in European companies. Let's explore some of them.
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Scale and Excellence
European companies can only achieve success in Solar PV expansion if they have adequate sources and time to reach large-scale production while following the stringent guidelines for operational excellence. Simply put, the lack of a large scale will bring out a challenging time for the European Union to succeed.
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Deployment of Advanced Technology
The European Union can be a competent participant in the solar PV expansion when they are early adaptors for the latest technologies. In particular, opting for higher cell efficiency and increased power per watt will effectively drive down the cost per watt.
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The Interest of Customers In Invest
Consumers from Europe at a certain level are likely to pay for premium-made European solar PV, due to their good warranty period, reduced card footprint, and more. In the next coming years, the willingness to pay customers will only increase in number, while the companies can build compelling value propositions.
Final Word: 3rd Annual Floating Solar PV Forum
The energy transition for Solar PV expansion within the European Union will have a potentially positive impact on the economy and environment as well as the social aspects of sustainability, creating thousands of job opportunities within the next few years.
Simply put, with this ambition marked in place, Europe will be able to sustain its secured position as one of the key contributors to solar PV markets in the world, alongside India, the United States, and China.
Register yourself for the event to learn more about the supply chain readiness for Solar PV Expansion in Europe.
