WEEKLY GLOBAL SOLAR MARKET UPDATES
Italy installed 6.8 GW new solar PV capacity in 2024; India mandates 2-hour energy storage for new solar PV projects; Slovakia’s solar PV market grew by over 274 MW in 2024. All these and more in our Weekly Global Solar Market Updates newsletter.
This newsletter provides a comprehensive overview of the latest developments in the solar industry across Asia, Europe, and Australia over the past week, highlighting key initiatives and the performance of leading companies. Subscribe to our weekly updates for the top stories from TaiyangNews. Visit https://taiyangnews.info/ for all the news on solar.
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EUROPE
France Raises Industry Concerns By Lowering Rooftop Solar Incentives: The Ministry for Industry and Energy in France plans to lower incentives for rooftop solar installations for projects with a capacity of less than 500 kW. These measures will be in effect retroactively from February 1, 2025, once approved by the administration.?According to the ministry’s proposal, the feed-in-tariff (FIT) for rooftop solar installations within the 100 kW to 500 kW range will be lowered from €0.105/kWh to €0.095/kWh. For 0 kW to 9 kW systems, self-consumption will be encouraged with excess electricity to be bought for €0.04/kWh from the current rate of €0.127/kWh.?For the complete story, click here.
Italy Installed 6.8 GW New Solar PV Capacity In 2024: Italy’s solar PV market grew by 30% year-on-year (YoY) in 2024 with the addition of 6.79 GW of new capacity, expanding the country’s cumulative installed capacity to 37.08 GW, says local solar PV association Italia Solare. Almost 1.9 GW of new capacity was energized in Q4 last year.?The number of total PV systems that are now online in the country total 1,878,780, but their number decreased by 25% in 2024, reaching 283,914 in new installations.?For the complete story, click here.
Slovakia’s Solar PV Market Grew By Over 274 MW In 2024: The Slovak Association of Sustainable Energy (SAPI) says Slovakia’s newly installed solar PV capacity in 2024 totaled over 274 MW, representing up to 98% of the total 280.16 MW of new electricity generation capacity the country reportedly added last year.?The newly added PV capacity includes 113.6 MW of residential solar, 142.7 MW of PV installed by companies, and another 17.7 MW of large-scale solar in 2024. The overall PV capacity increased by close to 3% year-on-year (YoY) from 267 MW the country installed in 2023. For the complete story, click here.
Germany Officially Exceeds 100 GW Cumulative Solar PV Capacity: Germany has officially exceeded the 100 GW mark for its cumulative installed solar PV capacity with the Federal Network Agency or Bundesnetzagentur pegging new additions in the month of January 2025 at 1.12 GW.?The country had missed reaching the 100 GW milestone at the end of December 2024, exiting it with 99.3 GW in aggregate capacity, including 16.2 GW during the entire year (see Germany Exits 2024 With 16.2 GW New Solar PV Installed Capacity). The updated 2024 PV additions stood at 16.73 GW.?For the complete story, click here.
ASIA
India Mandates 2-Hour Energy Storage For New Solar PV Projects: In a significant regulatory update that will positively impact the country’s renewable energy industry, the Indian Ministry of Power (MoP) has issued an advisory to make it mandatory for all new solar PV power projects to have a minimum of 2-hour co-located energy storage systems (ESS). It will be equivalent to 10% of the installed solar project capacity.? The advisory is addressed to all Renewable Energy Implementing Agencies (REIA) and state utilities for their future solar tenders.?For the complete story, click here.
Japan To Aim For 20 GW Perovskite Solar Cell Capacity By 2040: Japan will target to achieve between 40% and 50% renewable energy share in its total electricity mix by FY2040 under its 7th Strategic Energy Plan that has been approved by the cabinet. This will be an increase from the 22.9% it reached in FY2023, making renewables the center of its energy system.?For the complete story click here.
India Proposes Separate ALMM List For Distributed Renewable Energy: The Indian Ministry of New and Renewable Energy (MNRE) has proposed a new and separate Approved List of Models and Manufacturers (ALMM) dedicated to the country’s growing distributed renewable energy (DRE) segment. To be called ALMM List-I (DRE), it will constitute solar modules with less than 200 W capacity to be used strictly for off-grid projects and applications. These may include solar lamps, solar lights, solar streetlights, solar fans, etc., but not solar-powered agricultural pumps and solar PV rooftops, it specifies. ?For the complete story, click here.
AUSTRALIA
Australia's Financial Commitments For Over 4 GW RE Capacity In 2024: Australia saw over AUD 9 billion ($5.73 billion) in new financial commitments for 4.346 GW of new large-scale renewable energy generation capacity in 2024, making way for their construction, more than triple the total amount in 2023, says the Clean Energy Council (CEC). These represent, it claims, the best annual investment figures since 2018. Onshore wind was a big winner as it secured finances for 2.218 GW last year after no projects reached this stage in 2023. Investment commitments flowed in for 1.918 GW of large-scale solar in 2024, an increase compared to 1.314 GW in 2023. For the complete story, click here.
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