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.
The development lender has established a Covid-19 Off-Grid Recovery Platform with impact investors from the Netherlands, U.S. and U.K., to offer affordable loans to off-grid solar companies operating in Africa.
Valoe completed the 15-month purchase process of a 60 MW cell production line from Solitek in the spring and installed interdigitated back-contact production equipment. It hopes to begin deliveries in the next quarter.
The development lender has followed up a $600 million loan for distribution infrastructure in eastern Indonesia with a $430 million credit line for installations in India.
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