Markets

UK startup Space Solar has reached an agreement with Reykjavik Energy with a view to supplying 30 MW from space-based solar in 2030. Co-CEO Sam Adlen tells pv magazine the next steps include ground-to-air transmission demonstration and a kilowatt-scale solar satellite in orbit in three years’ time.

Wider use of electric heat pumps to heat buildings creates a larger market for renewable energy, but also presents challenges, which can be met through building insulation and weatherization, cold climate heat pumps, thermal energy storage systems, and higher-voltage distribution grids, according to a new report by Energy Systems Integration Group (ESIG).

LG Energy Solution expects strong demand for energy storage and plans to release a high-capacity lithium iron phosphate product with 20% higher energy density, along with other offerings. The South Korean battery maker says it aims to begin US production of energy storage system (ESS) batteries in 2025 and may convert European electric vehicle (EV) production lines to ESS.

Buddhist temples, churches, mosques and Hindu temples across Sri Lanka are receiving 5 kW rooftop solar installations free of charge. The project, backed by a $17 million investment from the Indian government, is expected to add 25 MW of solar to the grid.

Trinasolar Evergreen (Shanghai) PV Tech. Co., Ltd., a building-integrated photovoltaics (BIPV) unit of Trina Solar, has launched four new products for public, industrial, and infrastructure projects. Trina Solar aims to capture a share of the fast-growing BIPV market.

Solarcentury Africa’s 20 MW merchant solar project in northeastern Namibia has reached financial close. Once complete, the project will sell all its power on the South African Power Pool.

Replacing existing transmission lines, known as conductors, with advanced conductors could enable 764 GW of transmission-connected solar by 2035. However, some US utilities are slow to adopt this technology. In a recent webinar, two utilities that have used advanced conductors for years shared their experiences.

Surge in battery storage installations shown in installer data from UK accreditation body MCS. While 2024 is comfortably the best year on record, MCS Head of Scheme Alex Hughes tells ESS News she would like to see even more solar installers take on a storage accreditation.

Now that incentives from the US Inflation Reduction Act (IRA) are well understood, global manufacturers are announcing factories in the United States to constitute much of the solar supply chain. While some plans have been scrapped already, and more cancellations are expected, the broader trend is unprecedented growth.

Following Ireland’s most recent renewables auction finalized in late September, the average final price for PV was €0.10476 ($0.12)/kWh, which just a 4% decrease compared to 2023’s auction. pv magazine has spoken with the government, the local PV association and several market operators to understand the reasons behind final high prices.