Weekly Solar Industry Insights: July 22 - July 28, 2024

India's New Customs Duty on Solar Glass and Equipment

India has introduced a 10% customs duty on solar glass and a 5% duty on tinned copper interconnects used in manufacturing solar cells and modules, effective October 1. Meanwhile, the budget exempts certain machinery and equipment used in solar manufacturing from customs duty.

China's PV Boom: 102.48GW Added in H1 2024

As per the National Energy Administration, China achieved a remarkable milestone by installing 102.48GW of new photovoltaic (PV) capacity in the first half of 2024. The second quarter alone saw an average monthly addition of over 17GW.

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Australia's Grid-Scale Solar Growth: 1.4GW in Q2 2024

The Australian Energy Market Operator (AEMO) reported that grid-scale solar power generation reached an average of over 1.4GW in Q2 2024. This marks a 132MW year-on-year increase, driven largely by new capacity additions, especially in New South Wales.

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Italy's Renewable Revolution: Renewables Surpass Fossil Fuels

For the first time, Italy's electricity generation from renewable sources has overtaken fossil fuels, according to grid operator Terna. Renewable energy covered 43.8% of the country's energy demand in the first half of 2024, up from 34.9% in the same period last year.

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European Solar PPA Prices Drop 27% in Q2 2024

LevelTen Energy's latest report indicates a significant 27% drop in the average price of solar power purchase agreements (PPAs) in Europe during Q2 2024, settling at €62.83/MWh. This decline marks the second consecutive quarter of falling PPA prices in the region.

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Western Australia Commits to 6.5TWh of Renewable Energy

Western Australia has signed a Renewable Energy Transformation Agreement with the Federal government, aiming to support the development of 6.5TWh of new wind and solar projects and 1.1GW of energy storage capacity.

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Germany's Balcony PV Surge: 200MW Installed in H1 2024

Germany added 7.5GW of new PV capacity in the first half of 2024, with two-thirds of this coming from building installations. The country's total installed PV capacity has now surpassed 90GW.

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Maldives Launches Tender for 15 MWp Solar Systems

The Maldives has opened a tender for the development of 15 MWp of grid-tied solar systems across various islands. The projects are divided into two lots, with a deadline for bid submissions set for October 22.

Australia's Rooftop PV Projections: 86 GW by 2050

The Australian Electricity Market Operator's (AEMO) 2024 Integrated System Plan forecasts a massive growth in rooftop solar, reaching 86 GW by 2050. This projection has led to the launch of the AEMO-CER Data Exchange Industry Co-Design project, funded by ARENA.

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Panama Suspends Renewable Energy Auction

Panama has suspended its planned renewable energy tender, which aimed to allocate 500 MW of capacity through 20-year PPAs. The National Secretariat of Energy (SNE) will review the energy-contracting scheme under current regulations, following the installation of around 40 MW of new solar capacity last year.

Source: PV magazine