Can the EU compete with the US and China as a hub for green products? | Renewable energy

From: Cost calculation

The European Union has created a plan to encourage the production of electric cars and renewable energy projects.

The International Energy Agency estimates that the global market for mass-produced clean energy will triple to around $650 billion a year by 2030.

The world’s largest economies want a piece of this growing industry.

The United States Congress recently passed the Inflation Reduction Act, which includes billions of dollars in grants and loans to encourage the financing and implementation of clean energy projects. But it sparked a trade dispute with allies in Europe.

Now the European Union has set its own plan to compete with the US as a manufacturing hub for green products.

Elsewhere, we look at why Brazilian President Luiz Inacio Lula da Silva is threatening the central bank’s autonomy.

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