Global PV investment to surpass $765 billion in 2024
The International Energy Agency projects that solar will attract more investment than all other electricity generation sources combined. Global energy spending is set to surpass $4.59 trillion (USD 3 trillion) for the first time this year.
Paper points to load shifting to support renewable rollout
Reconfiguring Australia’s residential off-peak hot water systems to consume electricity when renewable generation is at its peak could help minimise the more than 4,000 MWh of large-scale solar and wind generation that is being curtailed in the National Electricity Market annually.
Japanese appliance manufacturer snaps up Byron’s Smart Energy
Byron Bay-founded supplier and installer of residential rooftop solar and battery systems Smart Energy has been snapped up by Japanese appliance maker Rinnai Corporation as it seeks to establish a “robust presence” in Australia’s renewable energy sector.
Marinus Link locks in completion date for 750 MW interconnector
Marinus Link has locked in a 2030 completion date for the high-voltage Tasmania-Victoria power interconnection project after signing a deal worth more than $1 billion with the world’s largest cable maker.
Solar, wind capacity surpasses coal in China
Research consultancy Rystad Energy is predicting solar power will become China’s primary source of electricity by 2026, after the combined capacity of the country’s deployed solar and wind power overtook coal for the first time in June.
ClearVue integrated solar window tech cracks Middle East construction market
Smart building materials company ClearVue Technologies has cracked the Middle East and Indian construction markets after signing a five-year agreement with Qatar’s largest glass and façade manufacturer.
Australian big battery market building towards record year
Australia has firmed as the world’s fourth-largest market for utility scale batteries with new data from research consultancy Rystad Energy revealing that almost 3 GW / 8 GWh of battery energy storage projects have started construction in the first seven months of 2024.
Philippines announces renewables, energy storage auction
The Philippines’ Department of Energy has said that energy storage and maximising the country’s existing renewable energy infrastructure will be a major theme for its next green energy auction. GEA-4 will take place in the final quarter of 2024.
FRV secures $1.2 billion financing for 1 GW Australian portfolio
Renewable energy and battery storage developer Fotowatio Renewable Ventures says it has raised more than $1.2 billion in new debt finance for its Australian clean energy assets, including its first standalone battery project planned for Victoria.
MPower hits mid-scale milestone with Narromine project exporting at 100%
Less than six months after site works commenced for a 5 MW solar project near Narromine in western New South Wales, developer MPower has announced that the power plant has achieved commercial operations and commenced generating revenue.
