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- Eduard Sala de Vedruna
As the energy system decarbonizes, it is becoming more complex and more interconnected. Today’s emerging energy system is fundamentally different, forcing companies to compete globally. New technologies will have to be developed to meet climate ambitions, evolving energy uses, and emerging new supply chains. How will corporate structures and business models change as new opportunities, but also new threats, emerge? What new business models can scale new technologies to support decarbonization efforts? What opportunities and challenges will companies face?
The solar and wind supply chains are going through significant turbulence due to increased raw material costs, trade regulations, local content rules, and manufacturing bottlenecks. This all results in increased costs and lowered competitiveness of these technologies. The pace of capacity installations will significantly accelerate in the coming years as capital is diverted toward energy transition. In this context, manufacturing capacity will have to scale up significantly along with demand for raw materials. Stretched supply chains might not be able to maintain the sustained cost decline trajectories that renewables, particularly solar, have witnessed over the past decade. How might the dislocations of the supply chains result in higher-than-expected costs of the energy transition? How is industry adapting to this new scenario?