2023-08-02 07:50:05
The United States is rolling out the red carpet to companies working for the energy transition. To benefit from generous subsidies, the manufacturer of solar panels Meyer Burger will build its new photovoltaic cell factory there.
If Meyer Burger has opted for Colorado Springs, and not for a site in Europe, it is because it will benefit from the “Reduction Inflation Act”. This American recovery plan, largely devoted to the climate, provides in particular tax credits for companies that settle in the United States. Faced with the American strategy, Meyer Burger had more than once called on Brussels to react.
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To conclude from this, however, that Europe is doing nothing to retain its green industry would be very severe, estimated Thierry Madiès, professor of political economy at the University of Fribourg, Wednesday in the Morning of the RTS: “The subsidies of the “European Union with green sectors represents around 0.5% of European GDP per year, while the Inflation Reduction Act is around 0.2% of American GDP”, he notes.
Provide visibility to businesses
The subsidy war waged by the United States, Europe, and also China is also a communication war. Thierry Madiès recognizes that the strategy of the United States reassures foreign companies.
“This program must take place over ten years and foreign direct investment also needs visibility. In this, the United States has done things well because when you invest, it is for a long time and you need visibility.”
In the European Union, with 27 States, the decision-making processes are more complex and less legible. For its part, Switzerland relies above all on its framework conditions.
Clea Favre/mac
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