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WSJ Tech News Briefing

Solar Power is Booming. Could a Glut of Cheap Parts Make It a Bust?

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 14 November 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

China has invested tens of billions of dollars in building its solar panel manufacturing industry. But too many cheap parts could spell trouble for growing markets elsewhere in the world. Wall Street Journal reporter Phred Dvorak joins to explain why. Danny Lewis hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to Tech News Briefing. It's Tuesday November 14th. I'm Danny Lewis for the Wall Street Journal.

0:10.0

For years, one of the biggest barriers to the spread of solar power was the cost of components.

0:15.0

But that's changed, thanks in part to China's massive investments in the country's renewable energy industry.

0:21.0

That's helped create a global solar boom, but could

0:25.1

rock-bottom component prices turn it into a bubble? Our reporter Fred

0:29.5

DeVoreck joins us later in the show to explain what's going on and how it could impact solar industries around the world.

0:36.0

But first, ExxonMobil says it wants to shift from being an oil company to a major US

0:47.4

supplier for the electric vehicle industry by 2030 and it's starting by drilling

0:52.3

for lithium in Arkansas.

0:54.0

The element is a key ingredient in making rechargeable batteries for EVs, cell phones, and laptops.

1:00.0

Exxon says it is currently drilling its first lithium well and plans to start producing battery-grade lithium by 2027.

1:07.5

The company says it expects to supply enough lithium to manufacture more than a million EVs a year by the end of the decade.

1:14.7

Exxon says it is continuing talks with battery and EV makers to set up customers

1:19.4

for what it is already calling mobile lithium.

1:22.4

Google is suing a Mobile Lithium.

1:23.0

Google is suing a group of people who allegedly tricked small business owners into

1:27.3

clicking on Facebook ads that claimed to let them download Bard.

1:31.3

Except, the Chatbot is web-based and not available to download.

1:35.9

The tech giant says in reality the fake ads installed malware that stole victim's social media

1:41.2

credentials. The lawsuit targets unnamed people in India and Vietnam,

1:46.6

and the purpose of the scam, beyond spreading more of the fake ads, is still unclear. But our

1:51.8

reporter John McKinnon says as interest in AI increases,

...

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