As Europe edges closer to a green economic recovery, batteries are key to supporting sustainable growth.
By: Lampros Bisalas, Chief Executive Officer, Systems Sunlight
As Europe edges closer towards a life after lockdown, the focus is squarely on the efforts to rebuild a severely damaged global economy. We Greeks know more than most that the road to recovery is a difficult one. Yet we are also optimistic, knowing the role that renewable energy will play in the recovery. So far Europe has been unfaltering in its commitment to the European Green Deal but government and local authorities will face an increasing number of obstacles as they balance what is right for the planet with a speedy economic recovery.
Choosing what is right for the future of our planet does not need to come at the cost of a successful economic recovery. The renewable energy sector has proved it has weathered the storm of COVID-19 with new deals being struck and cost comparison looking increasingly favourable for investors. More solar, wind and hydro plants being built means more jobs and a welcome injection of conditional government bailout loans will create the economic stimulus we need to rebuild the economy. Resilience, it seems, comes in green.
Behind every great transition are the cogs – or in this case, the batteries – that enable it to happen. The energy storage sector has supported the transition to green energy and electrification so far and will continue to do so as the pace intensifies. At Sunlight, we are investing heavily in technology and innovation, with a new R&D centre opening in the next few months, to ensure that we are supporting the energy storage needs of businesses and governments as they ‘Build Back Better’.
We remain committed to designing, developing and producing products that not only support a sustainable future but heavily promote that. Sunlight is transitioning from a heavy industrial company to a battery technology powerhouse which will allow the customer have additional options on how to serve their energy needs which are in a growing demand.
For Greece, the pandemic hit at a time where continuous economic growth was finally within reach after years of austerity. While we expect short term economic constraints, we are never-the-less optimistic about the role we can play in Europe’s greener, more resilient future.
The global pandemic has highlighted the need for Europe to increase its competitiveness with its Asian and American counterparts. As borders tightened and factories closed to prevent the spread of the virus, we saw value chains impacted on a global scale. This was felt particularly strongly by the manufacturing and logistics industry which had relied heavily on imports from China. Globalising supply chains to drive efficiencies and optimise shareholder profits dominated the business narrative for the last 30 years. As we rebuild a more resilient supply chain, we expect to see a trend towards regionalism and investment as regions reluctant to rely on the security (or insecurity) of other markets, step up to close the gaps, stimulating economies in the process. Sunlight with its global presence is ready to face that but most importantly we continue to invest in Europe for added value products and services.
The European energy storage sector is more than capable of serving European markets competitively and is advanced enough to keep up with the rapid pace of change needed to rebuild the global economy. It has the innovation needed to support that effort in all fields.
Sunlight, along with our peers in the sector have played a key role in supporting vital industries and commerce during the global pandemic. We plan to push hard for a sustainable economic recovery with new products and energy to power the European needs.This will enable us to continue to drive the circular economy and Charge the Future.