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The solar industry faced headwinds in March, writes Jesse Pichel of Roth Capital Partners, thanks to rising interest rates and, in California, concerns over increasing grid access fees. Despite this, the recent earnings season reveals strong fundamentals and a healthy outlook for most players.

Furthermore, Michelin said it wants to become a world leader in hydrogen fuel cell systems and ScottishPower aims to build a green hydrogen plant at a wind power complex. Moreover, a study led by scientists at the U.S. Department of Energy’s (DOE) Argonne National Laboratory suggested new strategies to design perovskite materials to speed up the oxygen evolution reaction (OER), a process that frees up molecular oxygen from water and is key for hydrogen production.

A new study from the Lappeenranta University of Technology predicts solar may even achieve a 69% share for total primary energy supply by the end of the first half of the century. In terms of price, solar PV is expected to achieve a capex of €246/kW-installed for utility scale projects, and of €537/kW for residential arrays by 2050. The levelized cost of energy (LCOE), however, is expected to remain constant over the next three decades, as the energy transition will also be implemented with storage technologies, increased flexibility and the production of synthetic fuels.

Greater dispatchability will be required from solar as it becomes increasingly mainstream worldwide, or investors could experience diminishing returns as a victim of the technology’s success at bearing down on electricity prices.

Something is brewing in the financial world. “Sustainable finance” and the growth of ESG funds have been taking the market by storm in recent years. Since most major PV projects end up needing investors from the capital market, it is only a matter of time before they will have to adapt. The beginning of March 2021 saw a milestone reached in this process.

The nascent hydrogen economy has seen a good amount of developments in a week that showed an increasing number of players taking part in the game. In the UK, British Airways has invested in hydrogen-electric aircraft developer ZeroAvia with a focus on hydrogen-electric power solutions for 50-plus-seat aircraft. In Brazil, Petrobras has joined forces with Siemens to develop green hydrogen solutions. In Portugal, the government and the European Investment Bank signed a non-binding memorandum of understanding for hydrogen cooperation.

Scientists in Russia introduce a promising new material for battery energy storage, the product of more than three years of research. Incorporating a nickel-salen polymer into the cathode, the group demonstrated a battery that can charge and discharge ten times faster than today’s lithium-ion batteries. And though the battery still lags in terms of overall capacity, the group is confident that its discovery will lead to big improvements for lithium batteries.

Many industry sectors across the world are currently being hit by a semiconductor chip shortage as major manufacturers are unable to meet demand. According to Cormac Gilligan, an associate director at IHS Markit, solar and energy storage manufacturers are being less affected. In general, the solar and energy storage industries have learned lessons from being impacted by semiconductor components, for example, transistors, capacitors and resistors in prior years, Gilligan told pv magazine.

BloombergNEF has shown that solar PV is the key driver of declining green hydrogen costs. The forecast shows costs falling by 85% by 2050, undercutting natural gas and blue and gray hydrogen production.

Scientists in Russia have designed a whole series of new compounds that could serve as catholytes and anolytes in organic redox flow batteries. The materials promise to open up new pathways for further research, and overcome some of the challenges for organic redox flow batteries in commercial, large-scale energy storage projects.