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i need help on this question. i attached the article below as well. it includes the guardian of business. i have also attached the question
i need help on this question. i attached the article below as well. it includes "the guardian of business." i have also attached the question along with some notes I made. please have detail:)
Canadian Solar Inc., ("Canadian Solar") a Guelph-Ontario based company, is a Canadian business success story that has expanded worldwide with revenues of over $3 billion dollars annually. Founded by Dr. Shawn Qu in 2001, Canadian Solar manufactures solar cells, modules and other solar technologies that allow sunlight to be turned into electricity. The Company and its subsidiaries are located in Canada, the United States of America, Mexico, Japan, China, Brazil, India and the United Kingdom. Under Dr. Qu's management, Canadian Solar became a publicly listed company on the US. Stock exchange, NASDAQ, in 2006 and has expanded into one of the largest photovoltaic solar manufacturers and project developers across the globe. By March 2015, Canadian Solar completed its rst acquisition of Recurrent Energy, a Califomia- based subsidiary of Japan's Sharp Corporation, for $265 million. Today, Canadian Solar has over 1,200 customers and is one of the top ten solar companies worldwide. How do solar panels work? For the average consumer, solar panels can be installed on a home rooftop. The initial upfront cost is approximately $10,000 to $25,000, depending on the panel's size. However, over its lifespan (25-30 years), the panel will generate electricity exceeding its cost, saving the homeowner energy costs in the long run. Why? Consumers get to produce their own electricity without having to buy it from their municipality. Besides being environmentally friendly, solar panels also protect against future electricity rate hikes, and can add up to 4% to the market value of a home. Similarly, farms and other commercial businesses can also invest in solar panels and save on energy costs. Today, more Canadians are trying to do their part and curb carbon emissions by adopting solar power to generate electricity and to reduce oil and gas emissions. Over the last ten years, the cost for solar power has been slowly dropping. Between 2008 and 2018, prices have come down by 55% making solar panels more affordable for the average consumer. As a result, many companies are entering the market and trying to capture market share as the transition to greener energy unfolds. Since 2022, Canadian Solar has reported earnings growth ranging between 167% to 750% during the year, outperforming more than 80% of all stocks regardless of industry. Many analysts agree that by 2050, the world needs to install 62 times more solar energy to tackle climate change. With the aim to shift away from fossil fuel sources, the demand for precious metals and critical minerals is also increasing. Silver, silicon and gallium are some examples of the expensive raw materials needed for various solar technologies and are concentrated only in certain countries. This lack of supply is expected to lead to higher prices or price volatility in the future. While silver is already used in thousands of applications, demand increased by 18% last year. A University of New South Wales research study estimates that the solar sector could absorb between 8598% of global silver reserves by 2050. Today, some solar companies are already looking at cheaper alternatives, such as electroplated copper. However, results on their effectiveness have been mixed. To plan for this supply issue, one alternative is to recover these minerals from older solar panels that can no longer be used to produce energy. For example, their silver may be extracted and re-used in future solar panel installations. According to Mool Gupta, a professor in the Department of Electrical and Computer Engineering at the University of Virginia, by 2050, solar waste will be approximately 78 million tons annually without recycling. Furthermore, a lot of valuable silver could be thrown away in landfills. Thankfully, solar recycling facilities are starting to appear. In 2023, the start-up company ROSI Solar, developed its first recycling plant in France. In North America, First Solar is the only US. solar manufacturer that also recycles its own products. Another U.S. company, We Recycle Solar, is a recycling company trying to market refurbished solar panels to make them more affordable for clients around the world. Adam Saghei, Chief Executive, entered the recycling business in 2017, recognizing there was value in reselling panels andlor extracting valuable minerals such as copper, silver, aluminum, glass and crystalline silicon. In Canada, Solar X is the first company in Canada to offer a similar program. The recycling industry however is still trying to figure out how to bring down some high costs. The estimated cost to recycle one panel is $20-$30, whereas sending the panel directly to a landll would cost a mere $1. Why is it so expensive to recycle? Solar panels are bulky but delicate pieces of equipment. Specialized labour is needed to detach pieces carefully without shattering them before they go onto trucks. Some governments also classify solar panels as hazardous waste since some contain cadmium or lead. With hazardous waste comes higher regulation and restrictions due to health and safety concerns. To make recycling a viable industry, more work needs to be done. But there is some progress. Canada currently does not have any laws that require solar panel companies to recycle their products or reuse them in any capacity. But some other countries with more mature solar markets have begun to address this need. The European Union has the \"WEEE Directive", a legal framework for recycling and disposing of electronic waste, including solar panels, which assigns recycling costs and responsibilities back to manufacturers. In order to move towards zero-emissions and encourage businesses to manufacture energy- efficient products, recycling infrastructure needs to be built. To avoid dumping solar panels in landlls, end-oflife infrastructure needs to include uninstallation, transportation, and adequate storage facilities. Recently, Alberta's Recycling Management Authority (ARMA) started a pilot program to try to keep solar panels and their components in use and was looking at various options to make recycling possible and sustainable. According to Darren Dunfield, a research lead at the NAIT's Centre for Grid Innovation, "We need processes that can rapidly test, discard and move to refurbishment," Duneld said. "So expanding the speed that we do the testing, expanding the refurbishment ability of how many more we can salvage. Ultimately for me it's about removing them from the waste stream." The refurbished solar panels may not be able to generate electricity for the province's power grid due to certication and insurance issues, but the ARMA considers them a good fit for farmers who are looking to cut back on low-end energy use. In the U.S., on October 23, 2023, the Environmental Protection Agency (EPA) announced it would add solar panels to its universal waste regulations, as the demand for solar is growing. The U.S. has created other laws to support the transition to clean energy. The U. S. ination Reduction Act provides incentives for companies producing energy-efcient products that aim to reduce carbon emissions, attracting companies, creating jobs and stimulating local economies. In June 2023, Canadian Solar announced it would build a new solar manufacturing facility in Mesquite, Texas, costing about $250 million, taking advantage of these special tax breaks. In addition to expanding globally, Canadian Solar has also made an effort to be a good corporate citizen in its business activities and governs itself by international standards. By October 2023, Canadian Solar Inc. earned the "Sustainability Reporting of the Year Global" award. According to a Canadian Solar news release: For three consecutive years, Canadian Solar has published sustainability and E86 reports aligned with the global standards set by the TCFD (Task Force on Climate- Related Disclosure), SASB (the Sustainability Accounting Standards Board) and GRI (Global Reporting Initiative). In the latest report, the Company has expanded its participation in international ESG initiatives, joining the United Nations Global Compact, committing to support and adhere to the Ten Principles of the UNGC on human rights, labor, environment, and anticorruption. Despite the company's sustainability initiatives, Canadian Solar has not yet developed a recycling program for its products which could end up in landfills. According to the International Renewable Energy Agency, Canada could have up to 800,000 tonnes of expired solar panels by the year 2050. While there is progress being made, many stakeholders are calling on governments for a more collaborative and cooperative approach to help organizations make the switch to greener alternatives and meet international climate targets in a timely manner. Question #2 (15 marks) Explain the arguments for the Canadian Federal government acting as the 'guardian of business' for Canadian companies in the solar panel recycling industry. Support your answer with all case examples as part of your analysis. 19. Reasons, why the government should/should not be the guardian of business - The government should be the guardian of business because they help; - Nurturing young industries - Encouraging Foreign Direct Investment (FDI) - Maintaining a favourable balance of trade - Protecting domestic business from unfair competition - Maintaining adequate levels of domestic employment - Offering subsidies to compete globally - The government should not be the guardian of business because they; - Promote political agenda - Create an uneven playing eld - Undermine public confidence in politicians - Contrary to free and open markets - Create dependency - Benefit only a fewStep by Step Solution
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