Markets

The Renewable Energy Corporation ASA (REC) will close its last multicrystalline wafer plant in Herøya, Norway. Around 460 employees will be affected. The company has also released its first quarter (Q1) 2012 results.

The Washington, DC-based think-tank, Brookings warned this month that U.S. investment in clean tech is facing a drop in subsidies in the coming two years, in a new report that included extensive coverage of the solar market.

Pacific Gas and Electric Company (PG&E) has unveiled its plans to offer a new clean energy program, the “Green Option”, which aims to promote the use of renewable energy. The U.S. utility has asked the California Public Utilities Commission to approve it by early 2013.

The U.S. Department of Energy (DOE) has said US$5 million will be made available for the development of plug-and-play photovoltaic systems in 2012, under the SunShot initiative. Over the next four years, it hopes to invest an additional $20 million.

Germany’s Federal Environment Minister, Norbert Röttgen has today formed a platform for renewable energies, in order to gather together all the relevant energy transition players. The platform may only submit recommendations, however.

After a considerable period of deliberation, the committee formed to set Japan’s revamped feed in tariffs (FIT) for renewable energy has announced today that a tariff of 42 yen (US$0.51) will be paid for photovoltaics. The tariff is not far off the amount requested by the Japanese solar industry.

Chinese module producer, Phono Solar and German EPC, Sybac Solar signed a 500 megawatt (MW) strategic supply agreement at the vast Hannover Messe industry trade show yesterday. The agreement underpinned a broader theme prominent at the diverse trade show, which was the cooperation between Chinese and German firms.

With the increase in installed photovoltaic capacity, the cost effectiveness of coal-fired power plants is decreasing. The outlook for coal, with the further development of emissions trading, will become even worse.

Following its insolvency annoncement at the start of the month, Q.Cells SE has resumed production of its photovoltaic cells and modules. The search for an investor is also underway – a “number” of parties have reportedly expressed interest in the company.

The Nikkei business daily has reported that a feed in tariff (FIT) of 42 yen (US$0.51) per kilowatt-hour (/kWh) is likely to be recommended by the panel established to advise the Japanese government on the matter. The rate is double the retail rate of electricity – close to what the solar industry itself recommended.