Global grid-connected solar capacity reached 580.1 GW at the end of 2019, along with 3.4 GW of offgrid PV, according to the International Renewable Energy Agency. Total installed renewables capacity hit a remarkable 2,563.8 GW, with hydropower remaining the dominant source at 1,310.9 GW, followed by wind at 622.7 GW.
Many solar factories in China are starting to resume production, suggesting that concerns about supplies of PV components could soon begin to ease. Nevertheless, the temporary standstill will have an impact on the global solar market, as the implementation of some projects will probably be postponed until next year.
A European energy system powered solely by renewables is economically feasible, according to a study which suggests decentralized energy systems operating within the framework of a stronger pan-European energy trade could reduce the cost of electricity from the €69/MWh price seen four years ago to around €51 in 2050.
Indra Overland, head of the Center for Energy Research at the Norwegian Institute for International Affairs, explains how the world’s future energy landscape may include pan-regional super-grids. However, prosumer states seeking energy independence could also be in the mix. According to Overland, the two developments will go hand in hand and the balance between them will be determined by the competitiveness of storage technologies.
The world’s first digital, autonomous, closed-end, utility-scale PV project investment fund – enabling people with any budget to become co-owners of projects – has announced the implementation of its first arrays, in Kazakhstan, with 4 MW in the north-west of the country and 4 MW in the south. Solar DAO says it will save about $50,000 per MW since total development costs will be less than $5,000 per MW.
Price deflation and technological innovation are helping solar transform the global electricity sector. A new report by IEEFA highlights the latest solar milestones around the world and charts important trends including the rise of floating solar and the corporate PPAs helping the tech giants ‘green’ their energy-hungry data centres.
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