The PV industry is in for a wild ride to add 158 GW in 2021, writes IHS Markit’s Josefin Berg. Delayed projects from this year, together with a generally increased appetite for renewables around the world, leads us to project 34% year-on-year growth in annual PV installations in 2021 – a year when module prices will remain high for at least the first two quarters.
Alongside all of the problems, 2020 has brought us a few promising solar module manufacturer initiatives and developments. Martin Schachinger of pvXchange.com looks back over the second half of the year and offers a quick look at what could be in store for 2021.
In September 2020, Stantec Turkey launched a market assessment report for the Turkish solar PV panel manufacturing sector. The English version of the “Market Report for Turkey’s Photovoltaic Panel Manufacturing” followed in November. The report, based on collected data from local manufacturers, depicts the history of the market since its inception in 2011 and provides unique insights into its development and future potential.
With the wholesale transformation of the power industry from the inside out and other energy transition mega-trends, capital will continue to flow into renewables from ESG, energy funds, and retail, writes ROTH Capital Analyst Jesse Pichel. Look for a greater mix of unsubsidized economic solar projects to support improving revenue visibility, increasing earnings quality, and multiple expansions.
The world is still combating Covid-19, with Europe now impacted by a second wave of the virus. While the market reported delays for a few projects, the impacts on the PV sector remain unclear. But if the world fails to curb the Covid-19’s spread, governments may be forced to reintroduce strict measures, thereby sapping PV demand. PV InfoLink’s Mars Chang expects module demand to hit 126 GW by the end of this year.
Falling module prices will help PV post another record year after an estimated 132 GW was installed worldwide in 2020, according to an energy transition investment trends report published by Bloomberg New Energy Finance.
The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
European renewables, including Spanish solar, made big gains as energy demand recovered before the second wave of Covid infections. Nuclear was a notable loser, in part because clean energy volumes in the north of the continent drove down power prices sufficiently to make reactors uncompetitive.
A report by McKinsey & Company reinforces the widely-held view renewables will supplant fossil fuels in the energy system but also joins the chorus of voices warning the world is on track to fall well short of limiting global temperature rises this century to 1.5C.
Polycrystalline PV technology, which is seeing its market share tumble on the global stage, still dominates India’s small solar manufacturing base and is emblematic of the R&D shortfalls in the sector, according to a survey of the state of the industry.
Swiss energy company Axpo will supply electricity to a supermarket chain from a 2.2 MW solar plant under a 20-year power purchase agreement. The facility is being deployed at the Muttsee dam, at an altitude of almost 2,500 meters above sea level.
The country’s cumulative installed solar capacity surpassed 3 GW at the end of December, according to new statistics from the Canadian Renewable Energy Association.
In many respects, the past year has been unlike any other. But the innovation and ambition driving the expansion of the solar and energy storage industries is one constant that has remained, Across seven categories, pv magazine’s award winners for 2020 demonstrate high levels of technical expertise, creativity, mass production capabilities, and real market impact from PV and power electronics companies big and small. Following on from the virtual award ceremony held this morning, the winners are….
The news comes on the day a private equity investor in the English North East announced plans to jointly develop a 1.4 GWp solar portfolio with Canadian Solar.
Standalone solar-powered refrigerators present a $20 billion opportunity in India for vaccine storage, milk chillers, households, micro enterprises, and cold storage for farm produce, according to a new report by Gogla.
Greek conglomerate Gek Terna has unveiled plans to deploy three large-scale floating PV plants at three different water reservoirs. Total investment in the projects is expected to amount to €170 million. Furthermore, the national utility PPC is reportedly planning to deploy another 50 MW and InterPhoton Group is considering to build a 500 MW facility.
The highest bid in Malta’s latest procurement exercise was €0.129/kWh. The Maltese authorities selected eight PV projects, with capacities ranging from 1 MW to 3 MW.
The Western Australian government has called for expressions of interest for its proposed 1.5 GW solar-wind-hydrogen hub at the Okajee Strategic Industrial Area. This week, it said that 65 companies from around the world are interested.
The Covid-19 crisis temporarily paralyzed the business for large scale unsubsidized solar projects across Europe. At the end of the year, however, demand for projects that are financed through electricity purchase agreements regained speed. Pexapark estimates that there is currently 10 GW of renewable energy capacity under signed PPAs in Europe, most of which is for solar power.
Australian researchers have analyzed different ways to improve the efficiency of PV-powered water electrolysis for hydrogen generation. They include the use of magnetic fields, light energy, ultrasonic fields, and pulsating electric fields. Energy costs remain prohibitive, but molecular movement and the redistribution of molecules in water during electrolysis could open a path to viability.
Batteries based on vanadium or zinc bromide represent the cutting edge of redox flow storage tech, an international research team has claimed. They have identified challenges and opportunities for about a dozen redox flow storage technologies, while providing estimates of their current and projected levelized costs of storage.
Scientists in China found that capsaicin, the natural compound responsible for a chili pepper’s spicy flavor, can also act as a ‘secret ingredient’ in perovskite solar cells, making them both more efficient and stable. The group added capsaicin to the precursor materials of a common perovskite, leading to dramatic improvements in the resulting solar cell.
Blockchain systems are being tested as a means of offering solar households revenue for excess power they generate, now the FIT program has ceased.
Scientists in Spain and Colombia took a closer look at the degradation mechanisms affecting perovskite solar cells, and developed a new, high throughput method to characterize their performance in an outdoor setting. The group evaluated the method through outdoor testing on perovskite modules manufactured in a lab. it expects its findings to offer easier device characterization and better understanding of the degradation mechanisms affecting perovskite solar cells, both important factors in the technology’s development.
Iranian scientists have assessed a new active approach for solar module cooling based on water spraying. Water sprayed from different angles can reduce the operating temperature of PV modules, with limited water consumption. However, the team noted that they have yet to assess the economic viability of the system.
Tennessee-based Shoals Technologies has balance-of-systems solutions deployed on more than 20 GW of solar energy systems throughout the world.
Longi and Risen both announced plans to build up new module and cell manufacturing capacity. Furthermore, the State Power Investment Corporation (SPIC) has revealed it deployed more than 10 GW of solar power last year.
The EV manufacturer with big solar ambitions has finally leveraged its expertise in power electronics technology and launched a solar inverter.
German scientists have designed a manufacturing process to reduce the thickness of the molybdenum diselenide interface layer in kesterite solar cells. They used two different configurations of silicon-oxynitride diffusion-barrier layers.
Huawei has strengthened its technology partnership with Chint, while TBEA is planning an IPO for its polysilicon unit Xinte Energy. Furthermore, glass manufacturers keep acting to overcome current bottleneck.
A new Wood Mackenzie report suggests that costs for front-of-the-meter battery storage systems in the Asia-Pacific region could fall by 30% by 2025. The declining costs are already having a palpable impact, as 2021 has opened with a slew of large-scale battery project announcements.
Last year was the time for mega-solar projects to strike record low prices – $0.0135/kWh in Abu Dhabi for the unimaginably vast 2 GW Al Dhafra project. Not to be left behind, some Australian project developers are pursuing equally grand plans, with clean-tech guru Michael Liebreich saying that their likelihood for success will lie in what the proponents plan to do with the vast amount of clean, cheap energy.
Puerto Rican regulators have ordered PREPA to procure solar and storage, but the utility’s board chairman says that the island’s grid can support only a fraction of the mandated amount.
Pending final closing, the Electrification Financing Initiative has announced it is considering private equity investments of €1.5 million to two French firms operating in Benin, Togo, Burkina Faso and Senegal, and $1.5 million to a Tanzanian business operating in Tanzania and Uganda.
Peel Renewable Energy is about to energize a 1.2 MW solar farm in Australia, as part of a fresh approach to microgrids. Infrastructure remains small, but the renewables-powered microgrid can grow to meet the needs of incoming businesses.
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