Tag Archive for: solarpv

A report from Ernst & Young (EY) shows that despite inflationary pressures, solar remains the cheapest source of new-build electricity.

EY said in its latest energy and resources report that 86%, or 187 GW, of newly commissioned renewable energy resources generated electricity at a cost lower than the average cost of fossil fuel generation in 2022.

Solar is the cheapest new-build electricity in many markets, even amid inflation and price rises, said EY, noting that the global weighted average LCOE for solar is now 29% lower than the cheapest fossil fuel alternative. Large-scale energy storage is also quickly becoming more cost-competitive and sophisticated, it said.

Solar has rapidly fallen in average LCOE globally, from more than $400/MWh in the early 2010s to about $49/MWh in 2022, down 88%. Wind power LCOE has fallen roughly 60% over the same period.

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Source: PV Magazine

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Even though utility-scale solar PV in the US added more than half of all capacity in 2022, community solar is slowly working towards accelerated growth in the coming years.

Even though utility-scale solar PV in the US added more than half of all capacity in 2022, followed by residential solar as the top market segments, community solar is slowly working towards accelerated growth in the coming years. By the end of the fi­rst quarter of 2023, installed community solar capacity reached 5.8GW, according to data from trade body Solar Energy Industries Association (SEIA).

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Source: PV Tech

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The DOE has announced $453.5M from the PR-ERF to install up to 30,000 to 40,000 solar PV & battery storage systems for low-income single-family households.

The Department of Energy has announced $453.5 million from the Puerto Rico Energy Resilience Fund to install up to 30,000 to 40,000 solar PV and battery storage systems for low-income single-family households, according to the agency Monday.

Funding will also be allocated toward consumer protection efforts to provide ongoing system education, training, and support.

This marks the first funding opportunity through PR-ERF, an initiative to support Puerto Rico’s most vulnerable communities in meeting the goal of 100% renewable energy by 2050, said the agency.

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Source: Bloomberg Law

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Florida is next in line after the top 15 solar states, landing in 16th in the overall rankings for solar adoption.

The Sunshine State, unfortunately, has not lived up to its name. It has settled in as a laggard in the adoption of solar power, despite its extensive and world famous solar resources. (And let’s not even get into its offshore wind potential.) With the facts presented a certain way, one might be deceived into thinking Florida is a solar power leader, alongside the Golden State and the Lone Star State. For example, here’s a chart of 2022 US solar PV installations broken down by the top 3 states and then regions of the country.

As that chart shows, Florida was third in the nation in terms of solar PV installations in 2022. It represented 10% of all US solar PV installation capacity last year, only trailing solar giant (and overall economic giant) California (24%) and Texas (18%). Those three states accounted for 52% of new solar power capacity in 2022.

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Source: Clean Technica

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Global demand for solar PV could rise up to 40% in 2023 as favourable economics in the solar sector combine with broad policies.

Global demand for solar PV could rise up to 40% in 2023 as favourable economics in the solar sector combine with broad policies like the Inflation Reduction Act (IRA) and REPowerEU schemes.

Bloomberg Intelligence’s ‘Global Solar Energy Midyear Outlook’ report predicts that solar will remain the energy sector’s fastest-growing sub-segment, predominantly driven by its position as the most cost-effective electricity generation method in much of the world. Bloomberg credited solar PV with a levelised cost of electricity (LCOE) of around US$50/MWh.

At the same time as installations are set to grow, sales for manufacturers are forecast to slow slightly as prices fall.

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Source: PV Tech

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Solar’s levelized cost of electricity will reach $30/MWh in 2050, as global capacity surges, said DNV.

DNV, a global risk management firm, has offered its annual outlook on the global energy transition. It placed solar in the spotlight as the frontrunner in renewable energy supply.

“In 2050, solar PV will be in unassailable position as the cheapest source of new electricity globally,” said DNV. 

As the world transitions toward carbon emissions-free electricity generation, DNV expects the share in the generation mix for coal to decrease 4% and gas to fall by 8% by mid-century. As the global fossil fuel industry becomes a metaphorical fossil itself, DNV expects the world energy mix to be 70% reliant on variable renewable sources like solar and wind power. Fossil fuels will represent just over 10% of the energy mix by that time.

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Source: PV Magazine

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Wind & solar combined now produce more electricity than coal in the US, according to new data from the EIA and the FERC.

Wind and solar combined now provide more generating capacity and produce more electricity than coal in the US, according to new data from the EIA and the Federal Energy Regulatory Commission (FERC), which was reviewed by the nonprofit SUN DAY Campaign.

In the first two months of 2023, electrical generation by solar (including small-scale solar PV such as rooftop) grew by 6.7%, compared to the same two-month period in 2022 – faster than any other energy source, according to the latest issue of the US Energy Information Administration’s “Electric Power Monthly” report, which contains data through February 28. This was driven in large part by growth in “estimated” small-scale solar PV whose output increased by 23.6% and accounted for 32.5% of total solar production.

The mix of utility-scale and small-scale solar PV plus utility-scale solar thermal provided 3.9% of the US’s electrical output.

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Source: electrek

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With the Inflation Reduction Act now established, attention turns to broader development of a domestic solar PV supply chain

With the Inflation Reduction Act now established, attention turns to broader development of a domestic solar PV supply chain. The U.S. has its share of solar module manufacturers, but the raw materials — from silicon to polysilicon to wafers and ingots — are still sourced overseas. Can that start to change?

Maybe! The first signs of life come via Mississippi Silicon LLC — the first new silicon metal facility in North America in 40 years — which has announced plans to work with REC Silicon to help establish a low-carbon and fully traceable U.S.-based solar supply chain. The companies have signed a memorandum of understanding (MOU) committing them to negotiate a raw material supply agreement.

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Source: Solar Builder

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Maldives has reopened a tender process, seeking to procure 40MWh of battery energy storage systems (BESS) in an energy transition project

The Republic of Maldives has reopened a tender process, seeking to procure 40MWh of battery energy storage systems (BESS) in an energy transition project supported by World Bank funding.

The South Asian island nation’s Ministry of Environment, Climate Change and Technology announced the reopening this morning. Eligible bidders have been given until 1pm local time on 27 October 2022 to submit their completed bids but must register with the Maldives Ministry of Finance between 4 August and 20 October first.

Financing support has been approved from the World Bank through its Accelerating Renewable Energy Integration and Sustainable Energy (ARISE) Project for the country and the Maldives government will apply part of that funding towards the cost of making payments to BESS providers under contract.

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Source: Energy Storage News

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Onslow, Western Australia is now powered almost entirely by renewable energy, and the utility behind that project wants to roll out the same tech across the state.

The small town of Onslow, Western Australia, is now powered almost entirely by renewable energy, and the utility behind that project wants to roll out the same tech across the state.

State-owned utility company Horizon Power said today that it will deploy distributed energy management system (DERMS) technology that helps coordinate the use of different resources like rooftop solar PV, battery storage and electric vehicles (EVs).

In the demonstration project at Onslow, the entire town ran on renewable energy and battery storage for a period of about an hour-and-a-half last year, thanks to a microgrid system which allowed it to operate as a self-contained electricity grid.

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Source: Energy Storage News

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