Analysts Lower EU Carbon Price Forecasts on Weak Industry Power Demand
Feb 27,2024 | DAXTROMNSOLAR
Analysts have revised downward their forecasts for carbon prices in the European Union (EU) due to weakened power demand from the industry. It is anticipated that the EU carbon prices, which have already been declining this year, will continue to face pressure in 2023. The decreased power demand from industries, such as steel and cement, resulted from economic uncertainties and the ongoing global energy transition.
The EU carbon market plays a crucial role in regulating and reducing greenhouse gas emissions in the region. However, with weaker industry power demand, the demand for carbon allowances has diminished. Consequently, analysts expect the carbon prices to trade around €40 ($46.35) per tonne in 2023, lower than previous estimates.
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In conclusion, weakened industry power demand in the EU has led to revised forecasts for carbon prices in 2023. However, innovative products like the Daxtromn Power inverter offer opportunities for households to embrace renewable energy and enhance energy self-sufficiency. By prioritizing solar power usage, households can contribute to the reduction of greenhouse gas emissions and become more resilient to power outages.
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