Analyst data records 53% annual growth in storage in 2017, rising to 1.9 GW as South Korea climbed to top of the tree in terms of cumulative capacity. Global project pipeline has soared to 10.4 GW.
Latest Global Solar Demand Monitor from GTM Research forecasts 6% annual increase in PV installation growth although current largest markets will register 7% contraction while geographic diversification poised to grow.
Inaugural global energy storage report by GTM Research finds that Australia’s behind-the-meter storage market tripled in 2017, while the U.S. remains the world’s leading market with an installed energy capacity of 431 MWh. China poised to rise to second place globally in 2019.
‘Unprecedented challenge’ for fossil fuels as low LCOE for solar and wind power, allied to tumbling storage costs, sees renewables claim larger share of bulk and dispatchable generation while adding vital flexibility to global energy mix.
Annual International Roadmap for Photovoltaics, compiled by the German production equipment industrial association (VDMA), reveals slowdown in module price reduction for 2017 in contrast to significant market increase that saw module production capacity rise above 130 GW.
Panel discussion at Energy Storage Europe tackled the issue of whether the best way for keeping the lights on as economies around the world grow is to extend the grid network or add energy storage, and found that the best solution lies somewhere in between.
Despite hitting a record 1.17 GW of new grid-scale storage capacity in 2017, growth was a mere 4.6% on 2016 having surged 61% the year prior. Industry’s reliance on policy support means foundations for growth remain uneven, report finds. Average costs, however, fell by 24% last year.
The Singapore-headquartered renewable energy developer signs agreement to jointly develop large-scale solar farm in Vietnam’s Ninh Thuan province with InfraCo Asia Development Pte.
The Danish wind turbine producer to explore further development of hybrid renewable energy plants that combine wind, solar and battery storage at single location as wind growth rates ease in face of market consolidation.
The decorated PV pioneer will step aside from his role as Trina Solar’s VP and chief scientist on February 12 in order to devote more time to his family life.