NorSun

This news should be a wake up call to the US Government; the Inflation Reduction Act is fantastic policy, but additional tools are needed for some critical elements of the solar supply chain like polysilicon and silicon wafers. Cubic PV had a deeply experienced team, they were raising significant capital for a US solar wafer plant and had secured a non-Chinese polysilicon supply. They were well positioned to add significant US solar wafer production capacity, and then the Chinese mercantalist playbook caught up to them. China continues to finance significant overcapacity in solar (building manufacturing capacity at multiples of actual market demand) across the supply chain. With supply exceeding demand prices plummet, rendering much of the industry unprofitable. Citing a "dramatic collapse in wafer prices", Cubic has shuttered its wafer plans and is refocusing on perovskite tandem technologies. We have seem similar actions in the EU, where overcapacity has cratered imported solar module prices, resulting in virtually all EU solar manufacturing to become unprofitable and thus be idled. Many Chinese producers are also unprofitable, and yet the building of new solar manufacturing capacity continues, funded by a firehose of state capital. Let's face it - their system is simply different. This is not typical market capitalism competition - this is market capitalism being deluged by state mercantilism. Some celebrate these artificially low prices - unwisely. For once they have chased the competition out of the market prices will rebound, and our dependence on a strategic competitor for a major energy source will deepen. This playbook is also being deployed across the clean energy space, including batteries and EVs. The US mix of objective rules-based trade policy (like the Uyghur Forced Labor Prevention Act), policy incentives for solar manufacturing and deployment of products with domestic content, are about as good as it gets globally at the moment. But the Cubic story tells us loud and clear we have more work to do to ensure US energy independence. And a hat tip to Nicholas Lua for breaking the story. https://lnkd.in/eUc5HJKJ

Make the energy transition resilient and secure the competitiveness of Europe's solar industry with the help of Solar Package 1 in Germany! The resilience bonus as part of the feed-in tariff is an important part.

We thank all our customers and partners for their cooperation during the year that is about to end. Happy holidays to everyone! #norsun #renewables #solarenergy #solar #climatechange

The sun is shining and the Norwegian Minister of Trade and Industry, Jan Christian Vestre has a close dialogue with the EU on the development of the solar industry. https://lnkd.in/gsnBfgJA #solar #solarenergy #janchristianvestre #norsun #climatechange

The EU has ambitious goals for Europe to be climate-neutral by 2050. The Norwegian Minister of Trade and Industry, Mr. Jan Christian Vestre, sent a letter to EU Commissioner Thierry Breton, Germany's Vice-Chancellor Robert Habeck and France's Industry Minister Roland Lescure stating a desire for a common approach to the solar industry market in Europe. He is clear that Norway will take an active role in the efforts to develop solar energy as part of the conversion. The letters were sent ahead of the EU's ministerial meeting with the solar industry as the theme. In the letters, the Minister emphasized that Norway has a unique player in the solar energy industry, (NorSun 🌞), which is an important part of the solution when finding new solutions to the energy challenge in Europe, and the efforts to make reduce dependency on China. NorSun is ready to take on this challenge, and has great confidend that the we have the expertise and capability to be a central player together with other businesses within solar energy in Europe. Read the letters here: https://lnkd.in/dT6NfNTM https://lnkd.in/dVTWJST4 https://lnkd.in/ddWgSDuR #solar #renewableenergy #janchristianvestre #climatechange #norsun

Trade and Fishery Minister Jan Christian Vestre, together with EU Economic Commissioner Paolo Gentiloni, launched InvestEU on Friday 24 November in Oslo. In his opening speech, Jan Christian Westre, pointed out to his European colleagues that Norway has Europe's ONLY producer of monocrystalline wafers for the solar industry. Further, he also emphasized the importance of taking care of Norway's unique competence and knowhow as particularly important in a situation where Europe is trying to make itself more independent from China. InvestEU opens up new opportunities related to sustainable investments in business. The European Investment Bank, the European Investment Fund and the Nordic Investment Bank also participated in the launch together with, among others, industry and policy actors. NorSun is prepared to contribute both to reducing emission of greenhouse gases, and securing Europe's access to sufficient (green) energy in the future. See the entire launch meeting here: (https://lnkd.in/dNG66Cc9) #norsun #solar #europe #climatechange #investeu #paologentiloni #janchristianwestre

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