The European Investment Bank (EIB), led by president Nadia Calviño, has called for significant investments in the manufacturing of solar panels and their components. This move is seen as essential for the European Union (EU) to achieve strategic autonomy and economic security, especially considering that China currently holds about 90% of the global market share in this sector. In a letter addressed to António Costa, the president of the European Council, Calviño stresses the importance of this issue ahead of a scheduled European leaders' retreat on February 12, which will focus on enhancing EU competitiveness and exploring potential paths for its advancement.

Calviño outlines in her correspondence that urgent and coordinated measures are required to manage the transition towards a more diversified solar project landscape within the EU. The goal is to enhance European manufacturing capabilities to produce the critical components of solar panels effectively. This strategy aims to mitigate the dependency on non-European sources while also fostering economic growth and energy independence as the EU navigates its renewable energy targets and climate commitments.

The implications of this call for increased investment in solar panel manufacturing are significant. By strengthening its domestic production capacity, the EU could not only reduce reliance on Chinese imports but also position itself as a leader in the green economy. Enhanced competitiveness in solar technology would not only create jobs but also contribute to the broader goals of sustainability and energy transition within the region. As the EU leaders prepare for discussions on this matter, the focus will be on actionable strategies to bolster Europe’s role in the global renewable energy market.