World

The world installed 239 GW of new solar capacity in 2022, according to SolarPower Europe. The rooftop PV segment accounted for 49.5% of additions – the highest share in the past three years. The rooftop sectors in Brazil, Italy, and Spain grew by 193%, 127%, and 105%, respectively.

In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.

PV manufacturing capacity is projected to more than double by 2024, led by China, but oversupply is also anticipated, according to the International Energy Agency (IEA).

China’s deputy head of the National Development and Reform Commission is reported to have recently met with Andrew Forrest, founder and executive chairman of Fortescue.

The International Energy Agency (IEA) said in a new report that solar will remain the main source of global renewable capacity expansion in 2023, accounting for 286 GW. In 2024, the figure is set to grow to almost 310 GW, driven by lower module prices, greater uptake of distributed PV systems, and a policy push for large-scale deployment.

Developed by Chinese researchers, the novel hybrid storage technology may achieve an efficiency of over 80% and be applied in distribution and transmission grids. The proposed combination is reportedly able to offer the advantages of gravity energy storage and power-based storage systems in a single solution.

New entrants to solar equipment procurement may be surprised to encounter constantly amended contract terms, index-linked price rises, and near-worthless defect warranties, but they reflect recent supply chain troubles. Clean Energy Associates’ Martin Deak offers a buyers guide.

Large-scale and rooftop solar installations are expected to contribute a record 286 GW of new generation capacity this year with renewable energy on course to shatter global deployment records in 2023.

For every dollar invested in fossil fuels, 1.7 dollars are invested in clean technologies. Five years ago, it was a one-to-one ratio, said the International Energy Agency.

A global race is underway to capture the manufacturing market for clean energy technologies. While lady lucky has certainly shone on Australia, competition is fierce, experts say.