While the gasoline-powered motor may still be around for a while before it goes the way of steam engines and rotary dial telephone, Tesla has certainly managed to dazzle clean energy proponents, the automotive industry, consumers and the media with the stellar success of its Model 3 vehicles. The California electric car company received more than 276,000 orders, which equals some $10 billion.
Meanwhile, more exciting news was had the Bloomberg New Energy Finance (BNEF) Future of Energy Summit in New York, where the data company predicted that solar would make up nearly one-third of all new investments in electricity generation over the next 15 years and that total solar capacity would reach an impressive 3.43 TW by 2030.
Solar remained hot in California, where the U.S. Interior Department approved the 287 MW Soda Mountain solar project in the Mojave Desert despite warnings by ecologists that large-scale plant could be detrimental to the local wildlife.
Across the pond, German utility giant E.ON unveiled its new all-in-one residential PV system that includes a storage device, energy app, and green electricity tariff. The home solar and storage system rivals other prominent solar energy storage products in Germanys fast-growing battery market.
Chinese PV manufacturer JA Solar inked a contract with Swiss technology group Meyer Burger for its PERC solar cell and wafer production equipment valued at more than CHF 18 million.
In India, financially troubled SunEdison is eager to unload 1 GW of solar projects valued at around $1.1 billion in an effort to dodge a looming bankruptcy. Adani Group is reportedly kicking the tires of SunEdison’s Indian solar assets.
Indias state-owned power utility NTPC, meanwhile, has approved a INR 31 billion ($467.5 million) investment backing the development of 510 MW of new solar PV capacity across the states of Rajasthan and Madhya Pradesh.
Back in the Americas, solar capacity in Mexico is set to surge 521% this year to 646 MW, according to GTM Research, which revised its forecast following the encouraging PV performance in the country’s first Clean Energy Auction.
In Argentina, the government established a new landmark renewable energy policy outlining the creation of an $820 million trust fund for renewable energy this year and setting up bidding processes for renewable energy projects.