Finance

Germany will miss its 2030 renewable energy targets if current policies do not change, according to a new report by IRENA. However, there is potential to meet, or even exceed them, if renewables are better deployed in the power and end use sectors. In the positive scenario, 11 GW of residential solar+storage could be installed by 2030, and cumulative PV capacity will reach 75 GW.

SunEdison reported a very strong quarter in its project business with far more solar and wind projects under construction than ever before at 2.9 GW, as the company shifts strategy.

Manz AG has recorded a net loss of EUR 33.8 million in the first 9 months of the year. Order delays and cancellations totaling around EUR 140 million have negatively affected the German manufacturer’s business. A major restructuring is underway, particularly in the solar segment, the key details of which are set to be unveiled on December 10.

Germany’s SAFE has gained a new supporter advocating for the removal of minimum import prices (MIPs) this December. In related news, the EC has rejected EU ProSun’s call for the replacement of the benchmark used for the MIP adaptation mechanism.

Solar and wind energy are lower cost than fossil fuels in Chile, reports Deutsche Bank, with solar the cheapest source of electricity generation. While over 1 GW of solar is set to be installed this year, there are still significant hurdles to overcome, meaning the market could slow to just half that in 2016.

Phoenix Solar AG is approaching breakeven, having recorded its first positive operating result in six quarters. Revenues were five times higher than in Q3 2014, while the free order book position stood at EUR 85.5 million as of September 30. The U.S. market is boosting performance.

Taiwan will soon boast what tracker supplier Big Sun claims will be the world’s largest rooftop array utilizing dual-axis tracking technology. The 840 kW array will be installed onto a “food facility” in Taiwan’s Pingtung County and will have to be sufficiently robust to withstand extreme weather events such as typhoons.

Tesla Energy has brought forward plans to begin producing its Powerwall and Powerpack products at its Nevada Gigafactory to this quarter, in a move that will push back the delivery of some products to Q1 2016. Plans to commence cell production at the Gigafactory have also been accelerated, with cells set to roll off lines by the end of 2016.

The U.S. power company reported a US$50 million loss from its Home Solar division, but a $34 million gain from its yieldco.

Less than three months after expressing reservations about forming a yield vehicle in its Q2 results, Canadian Solar is going to take a yieldco public.