Finance

The U.S., Japan and South Korea are the leading energy storage markets worldwide, says IHS, with each forecast to exceed 100 MW of annual installations this year. Between 2015 – 16, they are set to install 1.4 GW of new capacity. Large-scale system costs, meanwhile, are expected to fall significantly by 2019, which will spur global growth.

Following the module manufacturers’ lead, China’s largest inverter manufacturer, Sungrow, is entering the downstream solar business, having signed an agreement with the Chaohu municipal government in east China to develop up to 600 MW of PV plants on agricultural land.

The company’s management changes follow a shift in strategy, with an attempt to be more “boring” after rapid growth spooked investors.

Turkey has issued a new directive, which will see solar modules charged an import tax of around US$125, determined by weight. The new regulation will apply to all PV manufacturers outside of Turkey from December 19.

With more than a dozen projects currently under development and several more about to begin, the California solar company is expecting revenues this year to soar 140%.

Four state-run companies successfully petitioned Chinese courts to begin bankruptcy proceedings for the LDK Solar companies, only a day after the resignation of President and CEO Xingxue Tong.

A new report by CohnReznick looks at the dramatic growth of yieldcos and the massive amount of cash they have raised, but also the difficulties that yieldcos are having due to depressed stock prices.

Guodian subsidiary, GD Solar will retire 640 MW of crystalline and thin film solar PV capacity due to low utilization rates, high production costs and market expansion difficulties.

Capital costs for lithium-ion (Li-ion) batteries are expected to come down by around 50% over the next five years, as a result of increased renewables generation, among other factors, finds Lazard in a new study looking at the levelised cost of storage (LCOS). Currently, energy storage is not cost-competitive with most applications, however. In a separate study, Lazard, analyzed LCOEs in the U.S. Utility-scale PV was found to be competitive against conventional energies, while rooftop solar still requires “significant” subsidization.

Hanwha’s takeover of Q Cells is bearing fruit, with Q3 recording significantly improved earnings results. In addition to a return to net profitability, Hanwha Q Cells Co. Ltd has raised its gross margin forecasts for Q4, and expects shipments to increase at least two-fold. Capacity expansions are on the cards for both this year and 2016.