Energy Transition: Wacker Chemie CEO Banks on the Power of the Sun

In a recent interview, Christian Hartel, CEO of Wacker Chemie, emphasized the urgency and economic viability of an accelerated energy transition. Hartel pointed out that solar and wind energy have become among the most economical sources of power and clarified that traditional carbon energies and electricity from new nuclear projects lag behind in cost comparison. This is reflected in the dynamic growth of the renewable energy market, where Wacker Chemie operates as a leading manufacturer of polysilicon for solar cells and the semiconductor industry. The CEO noted that in the USA, solar and wind farms are being constructed on a large scale, significantly boosting the demand for polysilicon, Wacker Chemie's specialty product. This development is observable globally, with Hartel highlighting that last year saw 450 gigawatts of solar capacity, with an increase to 500 gigawatts projected for this year. Particularly in Texas, green electricity can be offered at four cents without subsidies, underscoring the cost-effectiveness of this form of energy. China has also recognized the significant role renewable energies will play in the future energy supply, advancing the installation of over 200 gigawatts of solar capacity last year. However, Hartel also pointed out future challenges posed by the increasing share of renewable energies, such as fluctuations in power supply and energy prices. Yet, he sees potential for the future: electric vehicles could serve as energy storage and contribute to the stabilization of the power grid through intelligent charging management. Artificial Intelligence could also help to better manage these fluctuations. Hartel criticized the slow progress in the construction of power transmission lines between the wind-rich north and the power-intensive south of Germany, but he also noted that creating two electricity price zones would be counterproductive, as it would weaken the competitiveness of the South German industry and reduce investment incentives in the North. In conclusion, Hartel discussed challenges in the German market, where uncertainties in planning make it difficult to consider new capacities for energy-intensive processes. In his view, one of the basic prerequisites for a successful energy transition is access to competitively priced energy that can be planned for.