Clean Energy Initiatives in Europe with Solar Energy

StartUp City | Wednesday, March 23, 2022

Europe’s drive for clean energy visions and the challenges in it.

FREMONT, CA : Accounting for over 75 per cent of global CO2 emissions, the energy sector stands to be the most significant contributor to global emissions. As energy is a vital part of all aspects of human life, it is crucial to decarbonise the sector and promote the use of renewable resources as an alternative. By 2030, 40 per cent of the total consumption of Europe should be produced from renewable energy sources. As photovoltaic systems are cost-effective, solar energy is the key player in the market. The efficiency of solar panels has doubled in the past 10 years with the use of these PV panels. In terms of cost, there has been a decrease of about 20 per cent for every doubled installation capacity. As per studies, technological advancements can push the price further down.

The challenges in the industry are manageable and can be overcome with the development of technology.

Lack of Installers: A shortage of qualified solar installers even with a forecast of increased installation rate is a challenge in Europe.

Lack of Availability of Cheap PV Panels: China is the largest producer of PV panels and the lower labour cost in the country accounts for cheaper exports to Europe. As there was a surge in the logistics and energy industry, the prices increased and the availability of panels decreased.

High Upfront Cost: Even though putting the cost of an installation depends on different variables, there is a very high upfront cost for various types of installations.

Storage and Grids: The unpredictability of renewable energy sources compared to conventional sources is yet another challenge. Solar and wind energies are complementary to each other in the time of the day it is produced, increasing the complexity of grid management systems and storage facilities.

Europe is positive that the startup ecosystem is all set to overcome the challenges in achieving the clean energy targets set by the European Green Deal. Decreasing the price of PV panels, increasing awareness of the importance of renewable energy, and new regulations are the trends that promise exponential growth in this sector. These would also increase the attractiveness of solar energy, scaling its use in all aspects. The advancements in the field will make the panels and batteries used to produce solar energy finally become eco-friendly and recyclable. And with the growth of the industry, there will be new problems to encounter and new solutions to implement.

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