Markets

India’s solar panel imports in the first half of fiscal 2024 surpassed the total value imported for all of fiscal 2023.

Scrapping size limits on outdoor compressor units and removing location restrictions are just two of the eight policy changes the United Kingdom government should consider in its campaign to install 600,000 heat pumps by 2028, according to consultancy firm WSP.

Polysilicon prices fell by as much as 0.63% in China this week, according to the China Nonferrous Metals Industry Association (CNMIA).

Energetica Industries, an Austrian PV manufacturer, can no longer meet its payment obligations. A total of 120 creditors and 94 employees are affected by the insolvency proceedings.

Bangladesh has approved more than 1.5 GW of solar projects over the past seven months, with recent developments including tariffs for 200 MW in November and 310 MW in October.

A consortium of financial institutions last week announced they co-invested $52 million to help finance the development of a 50 MW greenfield project in Sierra Leone titled Planet Solar spearheaded by Frontier Energy and Planet One Group.

A report from Ernst & Young (EY) shows that despite inflationary pressures, solar remains the cheapest source of new-build electricity. The global weighted average levelized cost of electricity (LCOE) for PV is now 29% lower than the cheapest fossil fuel alternative.

The Italia Solare Forum this week in Rome highlighted the renewed importance of the large-scale solar segment in Italy and underscored the huge potential of energy communities, given the EU’s recent approval of a dedicated incentive scheme.

The European Parliament and European Council yesterday provisionally agreed to phase out fossil-fuel boilers in the next two decades, among a raft of other infrastructure recommendations aiming to boost infrastructure energy efficiency. Europe’s peak body for heat pumps, the European Heat Pump Association (EHPA), welcomes the news.

The Solar Energy Industries Association (SEIA) and Wood Mackenzie predict that 33 GW of solar will likely be added in the United States in 2023. Despite economic challenges in the near future, solar is expected to be the largest source of generating capacity by 2050.