Markets

UK based energy data service provider and consultancy EnAppSys released its quarterly review of the European energy market. While renewables have covered a large chunk of the continent’s demand, that trend will likely change in the second half of the year, as production from renewables falls. Meanwhile, coal generation is being pushed out of the U.K. market, although not fully to the benefit of renewables as gas-fired power plants are picking up momentum.

Part three of our series on solar’s less covered markets takes us to Belgium, where despite impressive instsllation numbers from the rooftop market, a lack of volume means the country is unlikely to hit its EU mandated 2020 targets for renewable energy.

Crossboundary Energy Access (CBEA) was established in January with large investment contributions from Rockefeller and Shell Foundations. The funding facility, which said it would work to unlock $11 billion in funding for the electrification of 100 million people in Africa, has penciled its first transaction with PowerGen Renewable Energy.

In every corner of the globe, markets are experiencing an increasing need for capital to back renewable energy assets. Apart from conventional loans, bonds and equity schemes, Shariah-compliant financing instruments, such as Sukuk, serve as a catalyst for funding PV projects, Deloitte finds.

The Business & Human Rights Resource Centre has published a report looking at the human rights due diligence performance of the renewables industry and examined individual generation methods. The report finds that, while the solar sector is not top of the sad list, its vest also isn’t completely unstained.

The second part of our hidden champions series head to Bangladesh, where rapid industrialization is driving increased electricity demand. Already a major off grid market, Bangladesh is seeing increasing interest from international investors and is taking the first steps toward realizing its formidable potential for large scale solar installations.

According to the Taiwanese market research company, PV panel demand will increase by 16% over 2018 shipments. TrendForce also believes this growth trend will continue in 2020.

The Ministry of the Economy and Finance has eliminated an ambiguity in the tax code: the French are not subject to a tax on the self-consumption of solar energy – even in the case of rented or leased photovoltaic installations. This clarification provides valuable certainty for renewable energy developers who want to innovate their business models.

… and it will be quite an effort. The U.K.’s grid operator, National Grid, released a new report on possible energy system transformation pathways, amidst growing public concern over climate change. Ramping carbon emissions reduction targets up from 80% to 100% prompts technical challenges. These can be overcome but will require full alignment of policy effort and individual awareness and decision making.

The African Development Bank is providing around $56 million to fund a program to bring electricity to around 900,000 households in sub-Saharan Africa by 2025. The financial institution will also provide African distributed energy service companies with critical technical guidance and credit enhancement.