News from NovaSource: June 2, 2023
Hello industry friends,
Spring is well underway and once again, more eyes are on solar energy. Last summer, records were set all over the world in terms of solar energy production. I am filled with optimism and excitement for what lies ahead in our industry, and I anticipate another sunny summer in the global north to further cement that optimism.??
I will be joining our European team at next week’s Intersolar conference in Munich – the continent’s largest and most important conference on solar energy. I’m looking forward to getting the opportunity to meet more of the European solar community and hear first hand their goals and their concerns for the year ahead.
Our global team has been working tirelessly to keep up with the increasing demand for solar, and are excited to continue to deliver better solutions to project owners and investors. We have some exciting things to share with you all in the months ahead.??
Best Regards,?
Co-Founder & CEO, NovaSource Power Services?
NovaSource News This Month
NovaSource at Intersolar 2023— Come see us at booth A4.211
NovaSource is excited to be in attendance at this year’s InterSolar conference and fair, taking place June 13-16 in Munich. Our Chief Growth officer Timo Moeller will be giving a talk on “Trends in PV Project Development Management - From the O&M Providers Eyes” on Thursday afternoon. The rest of our European leadership team, including our country heads from Germany, France, Italy and Spain will be joined by CEO Troy Lauterbach. We hope to see you there!
Industry & Market Updates
Germany and the Netherlands have lowest costs of capital for solar PV
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According to new data from the International Renewable Energy Agency (IRENA), the lowest global costs of capital for utility-scale solar can be found in Germany and the Netherlands. The two countries both have cost of capital (CoC) rates of 2.2%, meaning that their levelized costs of electricity from PV projects are likely to be lower. IRENA data indicates that with a 10% CoC rate, electricity cost increases by 80% when compared to a 2% rate. This is a heartening sign for the energy transition in these countries, particularly in the context of the winter’s high energy prices.?Read more >>
IKEA signs offtake agreement with Meyer Burger
Ingka Group, the investment arm of global furniture giant IKEA, has announced that they plan to purchase solar modules from Swiss manufacturer Meyer Burger. The two companies signed a binding offtake agreement in early May. Although financial details were not made public, Meyer Burger plans to substantially increase production at its factory in Goodyear, Arizona as a result of the deal. The plant’s total production capacity will expand from around 1.6 GW to 2 GW annually.?Read more >>
Heliolytics Spotlight: Aerial Imaging Insights
Siemens to build solar farm for AI and drone inspection research
In order to research the use of AI and robotics in solar maintenance, Siemens is building a €1.5 million solar farm in the UK. Research will be carried out as a joint project with the University of York’s Institute for Safe Autonomy, giving insight on how landowners and operators can integrate new inspection technologies into their solar arrays. The farm is expected to become operational by July and will provide approximately 170 MWh of power per year.?Read more >>
Contact NovaSource
Reach out to contact our Chief Growth Officer Timo Moeller, set up an?in-person or virtual meeting, or fill out the?NovaSource quick survey?and we'll get started addressing any issue you've identified with a current system.