Suryaa Business Desk: At a time when steps towards green energy sources are accelerating globally, in the case of Clean Energy Supply Chains... International Energy Agency (IEA) has issued a crucial warning regarding clean energy supply chains at a time when steps towards green energy sources are accelerating worldwide. In its latest report, the IEA has made it clear that the concentration of the supply of raw materials required for the manufacture of solar panels, batteries, wind turbines and other wind power equipment in the hands of a few countries will be a major challenge in the future. If this practice continues, there is a risk that the energy security of the countries of the world will be called into question during geopolitical tensions.
The IEA has analyzed that some of the minerals and manufacturing processes required for clean energy technologies are currently limited to certain regions or countries, leading to severe supply disruptions. It said that complete dependence on just one or two countries could increase the volatility of energy prices, which would undermine the goals of the global green transition. It advised the countries of the world to recognize this threat early and diversify the supply channels. The IEA has called on industrialized countries to promote the manufacture of clean energy equipment on their own soil and to explore alternative sources.
It is clear that only by enhancing international cooperation can we successfully deal with raw material shortages and supply chain disruptions. Economists and energy experts point out that supply chain diversification is the most critical factor in driving the global energy sector on a sustainable path in the coming decade.