Reshoring and Friendshoring: Impact on energy supply chains
Energy Infrastructure/Supply Chain
Renewable energy supply chains have been challenged immensely in recent years following the twin energy shocks of COVID-19 and the war in Ukraine. Governments in key renewable markets such as the United States and Europe have made huge strides to push increased levels of domestic manufacturing to avoid over-dependency of supply from a limited number of markets and improve energy resiliency. Will the benefits of local supply chains outweigh a globalized supply chain? Will developers and end-use customers be willing to pay higher costs for locally made renewable components? Can renewable energy manufacturers scale locally while remaining cost competitive with global players?