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SolarPower Europe and EIT InnoEnergy launch the European Solar Initiative

SolarPower Europe and EIT InnoEnergy launched the European Solar Initiative (ESI), with the support of EU Energy Commissioner Kadri Simson, EU Internal Market Commissioner Thierry Breton and French Minister Delegate for Industry Agnès Pannier-Runacher.

“As the lowest-cost and most job-intensive renewable technology, solar is poised to deliver the goals of the European Green Deal and Green Recovery,” said Walburga Hemetsberger, CEO of SolarPower Europe. “The momentum is building to scale up manufacturing activities in the EU, based on the strong domestic market uptake confirmed in 2020 despite the COVID-19 pandemic and the sustained technological leadership of European companies. Following the successful launch of the Solar Manufacturing Accelerator in May 2020, today we are delighted to further boost the solar industry, with EIT InnoEnergy, by launching the European Solar Initiative.”

The ESI aims to scale up a strong PV manufacturing industry in Europe across the entire value chain from raw materials to recycling, which will capture the additional 20 gigawatts (GW) of annual solar demand forecasted in Europe for the next decade. This will generate 40 billion euros of GDP annually and create 400,000 new direct and indirect jobs across the PV value chain.

“Enabling strategic value chains which accelerate the energy transition is at the core of EIT InnoEnergy’s mission,” added Diego Pavia, CEO of EIT InnoEnergy. “This ESI for the PV industry would be our third, after batteries (EBA) and hydrogen (EGHAC). The mix of National Energy and Climate plan demand, low cost of capital, notable successes in European technology development and a return of investment into the sector has created fertile ground for a rebirth of European PV. Europe has learnt from its previous experiences and with the Green Deal’s powerful, unambiguous political and business framework in place, scale and speed are going to be the key to unlocking PV’s potential.”

The ESI combines the thriving ecosystem of solar PV players created over the years by SolarPower Europe and the successful blueprint of the European Battery Alliance, led by EIT InnoEnergy, with its Business Investment Platform (BIP). Designed to bridge the gap between business cases, investors, off-takers, delivery resources, the BIP shortens time to investment, de-risks, accelerates and boosts the robustness of the investment cases in all required dimensions (technology, team, supply chain, environmental sustainability, off-takers).

“The future of the European energy system is renewable and solar energy has an important role to play in that,” commented Kadri Simson, European Commissioner for Energy. “To quickly scale up green energy, we need the insights and cooperation of the industry. I am therefore very happy to see the launch of the European Solar Initiative, which I’m confident will give a boost to the entire solar PV value chain in Europe.”

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