Europe positions itself as the second global superpower in clean energy technology over the next five years, after China. Forecasts by S&P Global show that Europe will invest over $1,000 billion in clean energy tech, while North America comes in at less than half. But the big question is: who will supply that technology?
As long as Europe continues to buy technology from China, European businesses will gain nothing from this wave of investment. Chinese manufacturers are dumping their products on the European market, the top five players reported losses of between $4bn and $5bn by 2025. This undermines Europe's high-tech manufacturing industry and costs jobs.
The tools to change this are ready. The Net Zero Industry Act allows European technology to be extra rewarded in tenders, based on criteria such as circularity, innovation and carbon footprint. The Industrial Acceleration Act, a draft of which was leaked last week, offers additional tools to help sustainable technology come from European soil.
The call to the new cabinet is clear: use these tools. Don't keep buying everything from China. Many Chinese solar panels and wind turbines contain toxic substances, such as PFAS and antimony. By opting for European alternatives, you not only avoid a waste problem, but also stimulate circular solutions.
The economic impact is obvious. European production creates jobs in the high-tech manufacturing industry and creates new knowledge development. Companies that produce locally are currently inhibited by dumping, but can grow rapidly with targeted government support.
A concrete example we can mention from Solarge is the emergence of PV carports in business parks. These combine solar panels with charging infrastructure for electric vehicles and relieve the electricity grid. With local suppliers, this provides a huge employment boost. Millions of square metres of potential in the Netherlands alone. Insurance company Achmea is currently having a 2-ha carport realised with Dutch technology, which will be completed in April.
The message is clear: European investments in clean energy only make sense if they also create European jobs and innovation. The legal framework is in place, now the government needs to apply them to boost its own businesses' growth.
