Markets

German wafer manufacturer Nexwafe is currently trying to commercialize its highly efficient monocrystalline wafer technology.

For every dollar invested in fossil fuels, 1.7 dollars are invested in clean technologies. Five years ago, it was a one-to-one ratio, said the International Energy Agency.

Longi said today it cut the prices of its wafer products by 30% and Trina announced it will build a 25 GW monocrystalline ingot factory in the Sichuan province. Furthermore, the National Bureau of Statistics (NBS) revealed that the Chinese PV industry produced 39.92 GW of solar cells in April, and Datang Group unveiled the results of a tender to procure 8 GW of solar panels.

European Energy, a Danish independent power producer, said it will build its new 250 MW close to a substation owned by Italian grid operator Terna in Sicily. It will occupy a surface of around 200 hectares.

Gas and CO2 prices continued their downward trend in the fourth week of May, which led to a general downward trend in prices in European electricity markets and several negative hourly prices were registered, which reached -€400/MWh in Netherlands. The notable exception of the Iberian market, which saw a rise in prices, came from the fall in renewable energy production. During the week, records of solar photovoltaic energy production were reached in Germany, France, and Italy.

New data from Afry Management Consulting suggests that Spain’s solar power producers could face prices below €20/MWh before 2030 if renewable penetration continues to increase. Such low prices would render power purchase agreements (PPAs) and merchant projects unprofitable.

Poland added around 4.7 GW of new PV capacity in 2022, according to new data from research institute IEO. It predicts that 2023 could be another record year, thanks to another 6 GW of new solar power.

The Italian authorities have allocated 368.2 MW of renewables capacity in the nation’s latest procurement exercise for clean energy. Developers have offered a maximum discount ranging between 2% and 2.8% from the auction ceiling price of €0.065 ($0.070)/kWh.

Australia’s push to become a green hydrogen superpower has gained new momentum with the federal and Queensland governments teaming up with consortium partners to deliver AUD 117 million ($76 million) for a 3 GW renewable hydrogen project.

India’s Gautam Solar is expanding its solar module production capacity to 1 GW by adding a 500 MW tunnel-oxide passivated contact (TOPCon) manufacturing line from Jinchen. The new line will start production by September.