Germany’s solar industry warns against »poaching investment capital« towards USA, China and India
Post date: 20/02/2023 - 14:14
The German solar industry association Bundesverband Solarwirtschaft (BSW Solar) has once again called for political measures »to rebuild a strong solar industry in Germany and in Europe« and in doing so attacked the measures of other countries in an unusually direct manner. According to a BSW release, a »global race for solar giga-fabs« is underway with »extensive government subsidy regimes« creating more attractive investment conditions in other regions than in Europe. Government programs in the U.S. (»Inflation Reduction Act«), the People’s Republic of China and India are »increasingly poaching much-needed investment capital from Europe,« BSW said.
The EU must therefore quickly respond to the »subsidy and trade practices of global competitors that are aimed only at their own advantage.« This also requires »a long-term flexibilization of state aid regulations«. At the same time, however, »fair and low-barrier trading conditions« continue to be important for the EU’s own supply as well as for »safeguarding its own export interests.« The EU should therefore »not succumb to the temptation to unnecessarily restrict world trade and global supply relationships.«