I am posting this for u/gregorijat who is on a self imposed break and I feel that its a good article. IM not a FT reader but this article that was gifted is really really good. i think it adds something really insightful to the discussion about the high energy prices.
" The closure of the Strait of Hormuz has roiled energy markets. Consumers are calling out for alternatives to unreliable fossil fuels. And yet we are in a world of surplus solar panels. Let that sink in. After a huge surge in investment since 2020, Chinese companies have the capacity to produce a vast 1,000 gigawatts of panels per annum. The world cannot absorb the supply. More than 40 Chinese solar manufacturers have gone bust, been bought out or delisted. A third of the workforce at the top five survivors has been made redundant. Clean power, on a scale that would have seemed utopian at the time of the Paris climate treaty in 2015, is now within reach. The price of solar panels has fallen to rock bottom. And yet factories are idling."
and from this he lays out his explaination for the how and why and some ideas. I think it's something that can add a lot to discussion about energy policy.
Posted by ewatta200