We should learn from the second death of the solar industry!

Second example: raw materials, “critical raw materials”. Here too, many people say: be careful. Think about the solar industry! There is great dependence on China for raw materials that are key to the energy transition. 97 percent of all EU magnesium imports come from China, 71 percent of gallium imports, and 83 percent of global gallium production takes place in China. And the prices for some raw materials have now fallen so much that, despite all the efforts from Brussels, it is difficult to invest in our own mines and refineries. And when push comes to shove, China supplies raw materials as cheaply as Russia once did gas, often heavily subsidized – and invests in power. Admittedly, Brussels and Berlin see this and are doing a lot to address the raw materials problem. But one thing is clear here too: it will cost money, a lot of money, to secure the supply chain, increase the much-cited resilience – and create the conditions for the green transformation. The price of green independence, of green resilience, is high, even if this subsidy can be politically dismissed as “de-risking”.