Wood Mackenzie predicts that the global floating solar market will be dominated by the Asia-Pacific (APAC) region and led by India, China and Indonesia through to 2033. The consultancy says growth will be driven by rising demand, decreased capital expenditure and supportive policies.

United States manufacturer Thornova Solar has started producing solar cells and modules in Indonesia. CEO William Sheng says the move is in line with changing US market regulations. It plans to supply customers with cells and modules from Indonesia, Laos or the US by mid-2025.

Research from the National University of Singapore indicates that Singapore could reach its 2 GW solar installation target by 2028, ahead of its 2030 deadline. The study suggests that the government could increase its long-term solar goals by adopting policies that promote better area utilisation, subsidies, and advancements in panel efficiency.

The International Energy Agency Photovoltaic Power Systems Programme says in its latest report that 2023 was a record-breaking but tumultuous year for solar development. It says the manufacturing industry faces pressure from supply-demand imbalances, with overcapacity causing prices to collapse.

PV data consultancy Wiki-Solar says the world’s top solar developers have added nearly 50 GW of new solar capacity since early 2023, raising their cumulative capacity to 146.7 GW – more than one-fifth of the global total.

The International Energy Agency’s latest report, which maps out the future evolution of clean energy manufacturing, says the combined global market for PV, wind turbines, electric cars, batteries, electrolysers, and heat pumps will rise from $1 trillion in 2023 to more than $3 trillion by 2035.

The Philippines’ Department of Energy says that at least 105 renewable energy projects, including 53 solar projects, face termination for failing to comply with timelines.

The Institute for Essential Services Reform says Indonesia’s solar industry has faced a downturn over the past two years, but policy reforms should accelerate solar deployment in the coming years. The think tank’s latest report states that 16.92 GW of projects are currently in the pipeline across the country.

The International Energy Agency says renewables are on course to meet almost half of global electricity demand by 2030, with solar accounting for 80% of the growth in capacity.

The weighted average levelised cost of electricity of utility-scale solar PV in Australia was 22% lower than the global average according to a new report published by the International Renewable Energy Agency.