Manufacture of solar cells

Labels: Lithuania

SolarpanelThe share and development of the alternative energy sources have been more and more emphasised during the recent years. The prices for fossil fuels have been on a slow, but constant rise. Besides, if impact on environment, human health, forestry and agriculture are taken into account, traditional energies may leap in price. The EU Parliament constantly emphasises the significance of renewable sources of energy. Western European countries pay a lot of attention to research and development of the renewable energy technologies, with particular emphasis on their competitiveness.

In order to deal with these issues, Baltic Solar Energy has launched a project whereby the company plans to acquire solar cell manufacturing technologies to allow making innovative products in Lithuania. Successful implementation of the project will enable Lithuania to make its first steps in the photovoltaic energy market; there will be 35 new jobs created, in addition to promoting exports and high technologies development. This issue has gained a particular relevance after decommissioning of the Ignalina nuclear power plant. Therefore, encouraging Lithuania‘s energy is gaining even greater significance. The project will be implemented in the growing photovoltaic energy market.

Determinants

Baltic Solar Energy is well known Lithuanian high technology company. Together with BOD group and Baltic Solar Solutions, the company is going to carry out research and experimental production of solar cells.

Sustainability effects

Given that support to alternative energy sources receives favourable political backing, the market is likely to grow further by 10-20% every year. The new activities will be eco-friendly, a particular emphasis being given to quality control. There will be 35 new jobs created. During the projected period from 2010 to 2017, the company will contribute over €11.6m in taxes to the State budget. By 2015, the planned turnover from solar cells will reach €120.2m, with exports accounting for more than 95% of the production.

Barriers are not known at this stage.

Drivers are profits from commercialisation; increasing demand for renewable sources of energy.

Further Information

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Tags: Lithuania