Europe

The European Commission’s decision to deliver its hotly anticipated Heat Pump Action Plan late next year instead of this month is a “mistake” that will impact the sector and €7 billion ($7.6 billion) worth of investments, the European Heap Pump Association’s (EHPA) secretary general Thomas Nowak says in a statement.

A cold snap rocketed demand for electricity in Europe’s main markets in the final week of November compared to the previous week, according to Aleasoft Energy Forecasting.

Research firm EUPD Research says that the European Union’s (EU) solar PV module excess inventory reached 47.2 GW in 2022 and may hit 40 GW in 2023. In a new report provided to pv magazine, the company forecasts the EU may install 60 GW of new PV capacity this year with Chinese solar module imports hitting about 100 GW.

The European Solar Manufacturing Council says that the European Commission should ban all products made with forced labor to ensure the future of the European PV manufacturing sector.

pv magazine recently spoke with Bartosz Majewski, CEO of Menlo Electric, a Poland-based solar distributor operating in Europe, about high inventory levels of solar panels in Europe.

Brussels-based heat pump advocacy organization, the European Heat Pump Association (EHPA), issued a stark warning today claiming that the industry is being largely impacted by inconsistent European laws and ‘unfavorable’ electricity to gas price ratios.

In the third week of September, European electricity markets prices fell compared to the previous week. The decline was due to lower demand and a significant increase in wind energy production in several markets, which offset increasing gas and CO2 prices. On September 25, TTF gas futures reached their highest level since early April and on September 18, Brent reached its highest settlement price since November 2022.

Calls for barriers and duties are resurfacing in Europe as solar module prices sharply fall. German PV analyst Karl-Heinz Remmers recalls the 2009-13 period, when the European Union introduced anti-dumping and anti-subsidy duties. This drove the loss of 80,000 jobs in the solar industry, despite or perhaps because of the tariffs on PV modules and raw materials.

Octopus Energy has agreed to invest $89 million to scale up Kensa Group, a ground-source heat pump business, while KfW IPEX-Bank has agreed to provide $129.6 million of financing to German heat pump manufacturer Valliant.

Pexapark, a Swiss consultancy, has studied energy storage drivers, value streams, contractual agreements, and regional perspectives in Europe. It says that one obstacle to deployment is the inability to properly model revenue, and notes that 15% of companies plan to use AC coupling for projects in the next three years.