The cost of manufacturing solar PV modules and batteries varies significantly across regions. In the EU, production can be up to 45% more expensive than in China, 40% more expensive than in the United States, and 25% higher than in India.
Despite strong industrial strategies worldwide, China remains the dominant player in the clean energy sector, with its clean tech exports projected to exceed $340 billion by 2035.
On the other hand, the EU faces a critical challenge in meeting its clean energy needs. By 2023, local production of solar modules in the EU could meet only 15% of demand, leading to a heavy reliance on imports.
This insufficient production capacity has created supply chain challenges for the EU, making it difficult to provide enough products to meet the growing demand for renewable energy solutions.
