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The energy storage market is shifting from R&D demonstration projects to a commercially viable market, states IHS, Inc. Q4 2015 saw a 45% increase in the global project pipeline, while 900 MW of projects are expected to be installed this year.

Mercom Capital Group has released its figures for battery/storage funding in 2015. While investment in the venture capital, and debt and public market financing sectors both fell, merger and acquisition (M&A) transactions saw a significant increase.

The Indian Government will provide around US$743 million for 5 GW of grid connected solar PV projects up until 2020. It envisages a total investment of $4.4 billion and the creation of 30,000 jobs under the program. In related news, a record low tariff of $0.063/kWh has been recorded in Rajasthan.

First Solar, Inc. has signed 500 MW of power purchase agreements with Southern California Edison (SCE) for four of its solar PV projects. The new deals see SCE with 2.2. GW of solar under contract from the thin film company.

SunEdison yesterday closed a deal to acquire a 33% stake in Virginia-based Dominion’s 567 MW solar PV portfolio. The renewable energy developer simultaneously sold the stake to Terra Nova Renewable Partners for the same amount.

Leclanché SA has been selected to supply a 13 MW/53 MWh energy storage system for what has been described as one of the largest Grid Ancillary Services projects in North America. The projects are scheduled to be live this Q4.

Out of “at least” 51 GW of solar PV installed globally in 2015, Japan saw around 10 GW, according to calculations from the PV Market Alliance (PVMA). Since the introduction of its generous FIT in 2012, the country has approved 85.55 GW of renewable energy projects, according to reports. Solar is leading the charge.

SPower has said it will add 700 MW of clean energy to its portfolio in 2016. To meet this goal, it has contracted JinkoSolar to supply 1 GW of solar panels and hired Rosendin Renewable Energy Group to provide EPC services for its 2016 portfolio.

IHS, Inc. has confirmed a wafer supply shortage. This will lead to utilization rates of up to 88% in 2016, and increasing levels of outsourced production. Long-term contracts, often with pre-payment clauses applied, will affect some module manufacturers’ balance sheets. Prices for multicrystalline wafers are expected to continue their increase, while monocrystalline’s market share is set to grow.

The capacity of installed PV plants reached 848 MW-AC. Over 2 GW of solar PV is under construction.