WEEKLY GLOBAL SOLAR MARKET UPDATES

Rajasthan in India attracting trillions in renewable energy investments; UK welcomes ￡24 billion in clean energy private investment; Solar & storage plants cheaper than conventional power plants in Germany; Tier I PV makers largely unscathed by US DOC’s preliminary CVD rates. 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, the Americas, and Australia over the past week, highlighting key initiatives and the performance of leading companies.

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ASIA

NEA seeks public opinion on Management Measures for Distributed Solar Development and Construction: China’s National Energy Administration (NEA) has issued a draft seeking public opinion on Management Measures for the Development and Construction of Distributed Solar Power Generation. The document categorizes distributed solar PV power generation into 4 types: residential for natural persons, residential for non-natural persons, general commercial and industrial, and large commercial and industrial. The grid connection modes include full feed-in tariff, full self-consumption, and self-consumption with surplus power fed into the grid. For large commercial and industrial distributed solar, projects with a public connection point voltage level of 35 kV and a total installed capacity not exceeding 20 MW, or a voltage level of 110 kV (66 kV) and a total installed capacity not exceeding 50 MW, must choose the full self-consumption mode. The document also encourages various legally compliant electricity users, investment enterprises, specialized contract energy service companies, and natural persons to act as investment entities to develop, construct, and operate distributed solar projects in accordance with laws and regulations.

IFC partners with Axis Bank: The International Finance Corporation (IFC) will lend $500 million to Indian private sector bank Axis Bank for the latter to develop a blue finance market, and scale up financing for green projects in India. Blue loans are financing instruments that raise and earmark funds for investments related to water, such as offshore renewable energy, water and wastewater management, reducing marine plastic pollution, restoration of marine ecosystems, sustainable shipping, and eco-friendly tourism. This is the IFC’s maiden blue investment in India and the 1st blue transaction by a financial institution in the country. It is also its largest green financing in India.?IFC’s Managing Director Makhtar Diop said, “This loan will not only catalyze private sector investment in this emerging asset class but also direct long-term funding toward fostering a sustainable blue economy. Additionally, it aims to enhance financing for climate projects across India, with a strong emphasis on green buildings that will mitigate climate change impacts and generate jobs.”????

Rajasthan attracting trillions in renewable energy investments: Known as the Land of Kings, the state of Rajasthan is today India’s leading state with the highest installed capacity of solar power having installed 24 GW out of the national total of 89.43 GW as of August 31, 2024. With its high solar irradiance and vast stretches of desert land, it continues to attract investors in the renewable energy space.?Ahead of the state’s planned Rising Rajasthan investor summit from December 9 to 11, 2024, the state government has entered several memorandums of understanding (MoU) for various sectors at a series of investor meets. For renewable energy, the investment announced at such pre-summit investor meets is already worth trillions.?

EUROPE

UK welcomes ￡24 billion in clean energy private investment: The United Kingdom (UK) Government has announced private sector financial commitments worth over ￡24 billion ($31.34 billion) for its clean energy sector. The single largest commitment comes from Spanish energy giant Iberdrola that plans to double its investments in the country from ￡12 billion ($15.67 billion) to ￡24 billion during 2024-2028, through its local presence Scottish Power.??Among the other big investments committed include ?rsted’s ￡8 billion and GreenVolt’s ￡2.5 billion (3.26 billion) investments in offshore wind farms. SeAh Wind UK has also promised a ￡225 million ($293.8 million) expansion of its investment in the North East to build a wind technology manufacturing fab.?For the complete story, click here.

Netherlands backs 4 GW HJT solar cell factory with €4.2 million: The Netherlands’ Ministry of Economic Affairs along with the Province of Groningen and the Regional Development Agency NOM have shelled out €4.2 million to support the development of a 4 GW heterojunction (HJT) solar cell factory of MCPV in the Veendam region.?Along with this capital coming in, MCPV has also signed an agreement with the regional electric grid operator Enexis that gives it sufficient grid capacity for the initial gigafactory and its future expansion. Additionally, MCPV has signed a land purchase agreement for an industrial site large enough to host the initial MCPV gigafactory along with its future expansion.?For the complete story, click here.?

Solar & storage plants cheaper than conventional power plants in Germany: Ground-mounted solar PV systems and onshore wind turbines in Germany currently have a levelized cost of electricity (LCOE) of €0.041/kWh to €0.144/kWh, making these the most cost-effective technologies among all types of power plants including of course, renewable energies. Solar PV systems now produce electricity much more cheaply than either coal or gas-fired power plants, even in combination with battery storage, according to the latest edition of the study on Levelized Cost of Electricity: Renewable Energy Technologies by Fraunhofer Institute for Solar Energy Systems ISE.?For the complete story, click here.?

NORTH AMERICA

Tier I PV makers largely unscathed by US DOC’s preliminary CVD rates: The countervailing duty (CVD) rates for imported PV cells, whether or not assembled into modules from 4 Southeast Asian nations, issued by the US Department of Commerce (DOC) in its Preliminary Determination earlier this month, are not likely to obstruct the continued exports to the US market by most, large tier I solar PV manufacturers.??This is the observation of North American solar PV, green hydrogen and battery storage market intelligence firm Clean Energy Associates (CEA). The department issued the rates based on a finding of adverse facts available (AFA) for manufacturers supplying their cells and modules from Cambodia, Malaysia, Thailand, and Cambodia.??According to the CEA, smaller companies that received higher AFA rates will likely be ‘forced to withdraw from the US market.’ Nevertheless, the limited scale of their exports will have a ‘minimal’ impact on the US module availability. ?For the complete story, click here.

SOUTH AMERICA

Brazil expanded solar PV installed capacity by over 490 MW in Sept. 2024: Between January and September this year, Brazil’s power generation capacity expansion totaled 7.8 GW with 219 projects coming online, 90% of which represented wind and solar PV plants, according to the country’s National Electric Energy Agency (ANEEL). In the month of September 2024, out of the 24 power plants that assumed commercial operations bringing online a combined 711.33 MW were 11 solar PV projects representing a combined 491.83 MW, 10 wind power plants that totaled 117.20 MW, and another 102.30 MW in the form of 3 thermoelectric plants.??For the complete story, click here.

AUSTRALIA & OCEANIA

New Zealand fast-tracking 3 GW renewable energy capacity: The Government of New Zealand plans to expedite 3 GW worth of renewable energy generation capacity to boost its energy security and meet its climate change goals. It has included 22 projects that represent this capacity in its Fast Tracking Approvals Bill.?These 22 facilities are part of 149 projects with significant regional or national benefits selected by the government across various sectors for inclusion in its one-stop-shop bill that will help rebuild the economy and improve energy security. For the complete story, click here.

Australian government approves 800 MW new solar PV capacity: The Australian government has approved 2 new solar farms representing a combined capacity of 800 MW, located in Queensland and New South Wales. Together, these are expected to power 351,000 homes when online.?The Sixteen Mile Solar Farm with 350 MW PV capacity will be accompanied by a 120 MW battery energy storage system (BESS). This X-Elio project in Queensland’s Hopeland will require 579,660 solar panels. Its Ecological Assessment Report for March 2024 mentioned the project’s capacity as 420 MW DC/350 MW AC solar and 120 MW/240 MWh BESS capacity. The Spanish company agreed to reduce the layout of the solar farm by 26% to avoid impacting local wildlife habitats, including koalas, grey snakes, and squatter pigeons.?For the complete story, click here.

TAIYANGNEWS VIRTUAL CONFERNECE

#Block21-22October for TaiyangNews Reliable PV Module Design 2024 Virtual Conference

With record low prices, everyone in the solar module segment is severely under pressure. And with fierce competition in times of huge overcapacities and companies extremely challenged to further innovate and stand out with their products through very high power ratings and efficiencies while improving on cost, there is one particular feature to watch out for these days: Solar Module Reliability. PV module suppliers offer very long warranties for their panels, of around 15 years for the product and around 30 years for performance.

TaiyangNews Reliable PV Module Design 2024 Virtual Conference is spread across 2 days: from 12:00 to 15:00 CEST on #Oct 21, 2024 & from 10:00 to 13:00 CEST on Oct 22, 2024. Sponsored by LONGi Solar , JA Solar , Astronergy Solar , JTPV, Hangzhou First, GCL System Integration, AESOLAR & Endurans Solar, the event will bring together major stakeholders in the module manufacturing and product testing segments to discuss how to build long-lasting solar modules, which is also the theme of this event.

For the #Agenda and #FreeRegistration, click here: https://taiyangnews.info/our-events/oct-21-22-2024-reliable-pv-module-conference

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