EU introduces industry-wide solar PV production alliance

• The European Commission (EC) on Friday formally released the block's Solar Photovoltaic Industry Alliance, seeking to scale up residential photovoltaic (PV) production and also reduced supply risks by commercialising "Made in Europe" products.

The European Solar PV Industry Alliance will certainly aim to facilitate financial investments that will advertise an objective for 30 GW of European production capacity by 2025, across the entire value chain. According to the EC's price quotes, some EUR 60 billion (USD 63bn) of new GDP each year will be brought into Europe if the target is achieved.

The new body will certainly organize various solar market stakeholders such as industry agents and also study institutes to identify making scale-up traffic jams and will provide an action plan for the solar industry value chain in Europe. It will certainly collaborate with the EU and also participant states on a wide variety of locations, consisting of study and advancement, resources, access to fund, off-takers and also worldwide partnerships.

The initiative is consisted of in the EU Solar Energy Strategy, which belongs to the REPowerEU Plan and also calls for over 320 GW of newly installed PV capacity in the EU by 2025 and also nearly 600 GW by 2030.

The alliance, the production of which was authorized in October, will be open to all companies, public and also personal entities associated with the PV production industry in the EU. A membership application form is currently offered on the EC's website.