Raw material prices for solar power surge amid supply chain pressures, threatening future of entire industry
06/25/2021 / By Arsenio Toledo
Solar power developers all over the world are slowing down the installation of their projects due to the surge in costs for raw materials. The solar industry is just the latest shaken up by the breakdown of global supply chains caused by the Wuhan coronavirus (COVID-19) pandemic.
Between 2010 and 2020, the cost of solar energy fell by 80 percent. These dramatic decreases have come to an end thanks to supply chain pressures preventing developers from reducing costs even further. This is occurring at the same time many governments around the world are pledging a “greener” recovery from the pandemic.
“The narrative in the solar industry has shifted,” said Bruno Brunetti, an analyst for the energy analytics firm S&P Platts. “We have seen steep declines in costs over the past decade, but we are seeing that stabilize now and even increase in some cases.”
https://www.climate.news/2021-06-25-solar-power-costs-surge-supply-chain-pressures.html#
