NovaSource News: February 2, 2023

Dear Industry Friends,

It has been an exciting start to the year for us at NovaSource. Europe’s solar PV space is continually reaching new installation milestones across multiple regions, and it seems like the discussion around bringing domestic manufacturing back to the continent is becoming louder by the day.

I’m currently attending this year’s Solar Finance and Investment Europe conference in London to contribute to the discussion around how best to approach the wider rollout of solar in Europe. Deeper discussions with our existing, and future partners and customers are key to ensuring the needs of everyone are met, and that the future energy system is built with all parties in mind.

I can’t wait to hopefully meet more of you in person at industry events throughout the year.

Best?wishes,?

Timo Moeller

Chief Growth Officer

NovaSource Power?Services?

NovaSource News This Month

Keep up with the rapidly advancing technology in solar

Join Novasource’s Timo Moeller and other solar industry leaders for a discussion on keeping up with the rapidly advancing tech in Solar PV at Solar Finance & Investment Europe in London. Panelists will discuss how to pick the right technologies for projects, build up supply chains, and more. We look forward to seeing you there!

Market and Competitors

Energy Crisis Jump-Started Renewables Construction in 2022

New data from Rystad Energy shows that new construction of solar, wind, and energy storage projects grew 42% from 2021 to 2022. The growth is attributed to increased fossil fuel energy prices following Russa’s invasion of Ukraine, leading to higher government investment in renewables projects. An additional 583 GW of utility-scale solar were added to the pipeline in 2022. Consumers and businesses also joined the movement, with rooftop solar installations jumping 51% for a total of more than 80GW. Read more >>

Strong Continued Growth Predicted for EU Solar Market

A?new report from SolarPower Europe outlines the role of solar in Europe’s energy transition for the next few years. As geopolitical developments have put a renewed focus on renewables and energy security, solar has been included in ambitious new energy targets. The REPowerEU plan and its Solar Strategy will boost deployment, with the goal of bringing 320 GW of solar PV online by 2025 and nearly doubling this to 600 GW by 2030. Even under a medium production scenario, this target is expected to be easily achieved, with policies such as mandatory rooftop solar and streamlined permitting processes expanding capacity. The report also outlines additional steps to clear the way for solar development, including educating qualified technicians, improving grid connections, and reinforcing access to reliable manufacturing sources. Read more >>

Austria Budgets €650 Million for Solar Incentives

The Austrian government plans to continue its expansion of PV capacity in 2023, setting aside a record €600 million budget (approx. $650 million USD) for solar subsidies. In addition to existing funding tracks for rebates and market premiums, a new program specifically for PV projects will be created under the Renewable Energy Sources Expansion Act with a budget of €268 million. This new funding scheme, combined with additional measures to simplify approval processes, is expected to help fast-track the development of solar PV.?Read more >>

NovaSource Industry Insights

Data-Led Tech Offers NovaSource Competitive Edge

With an eye on NovaSource’s future in 2023 and beyond, CEO Troy Lauterbach spoke with PV Tech about how new technology options allow the company to remain competitive against in-house O&M. Last year’s funding from OMERS brought in capital that the company has invested into novel solutions, such as the use of artificial intelligence. The company also aims to expand its markets in Europe, particularly Germany and Spain, with a more sophisticated platform offering new opportunities. Read more >>

Minimizing Energy Loss in Solar Installations

NovaSource’s CGO Timo Moeller outlines key steps to keep solar plants from losing energy in Solar Builder Magazine. The breakdown of important system components leads to accumulated system loss over time. However, this can be mitigated with a more specialized division of labor, the development of trusted relationships with O&M partners, the use of more advanced data-collection options to optimize maintenance, and a fact-based reevaluation of the norms around service contracting. Read more >>

Contact NovaSource

Reach out to contact Timo, 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.

Timo Moeller - [email protected]