Zero: The Climate Race19 Juli 2023

How solar’s explosive growth is starting to make electricity free

In the next three years, 1TW of solar power will be added to the global grid and competition is driving solar prices even lower. And after years of innovation in China, Japan, and Germany, the U.S. is finally getting in the game in a major way through its IRA which offers incentives to manufacture cleantech in the U.S. In early 2023, the South Korean company QCells announced it would build a domestic supply chain in the U.S. to gain access to enormous tax credits. But in a global marketplace, is this worth doing? Despite solar's potential, manufacturing its parts has never been a reliable business.

This week Akshat talks to Jenny Chase of BloombergNEF and an expert on the solar industry about its boom/bust cycle, why solar's growth means electricity may soon be free during the day, and what QCells is up against. We also hear from Lindsay Cherry of QCells about how the company will achieve its ambitious goal to build a solar supply chain from scratch.

Akshat will be traveling to Singapore, Sydney, Melbourne and Delhi over the next few weeks. Fancy meeting for a drink? Sign up here.

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Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Special thanks to Kira Bindrim, Brian Eckhouse, Nayeli Jaramillo-Plata, and Abraiya Ruffin. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit bloomberg.com/green

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