Wood Mackenzie has predicted solar equipment cost increases will ease back after last year saw the average cost of solar electricity rise for the first time in the Asia-Pacific region.
Advances in solar power and other clean energy technologies have failed to keep up with demand for electricity as economies rebound from the Covid crisis and China and India’s fossil fuel appetite will ensure the world stays well short of what is needed for a net zero 2050 for at least the next three years.
A lack of end-of-life batteries this decade is likely to play into the hands of Chinese recyclers located near most of the world’s production facilities, according to analyst WoodMac, but might at least help rebalance the current situation in which new products are cheaper than recycled ones.
The Paris-based body expects the world will have installed almost 160 GW of solar this year, a record number, but still not enough to keep the prospect of a net zero global economy by mid century in sight.
English manufacturer Aceleron claims every component of its devices can be accessed for replacement, repair or recycling, with the business’ co-founder stating the aim is to ensure ‘100% of the materials in our batteries will continue to be used for as long as possible – preferably forever.’
The U.S. manufacturer has started building its third Ohio production base and has also begun ordering equipment to kit out its first factory in India.
The latest edition of a clean power jobs survey produced by IRENA and the International Labour Organization has stressed the important role which will need to be played by the public sector if the energy transition’s employment benefits are to be shared equally.
The input costs of the two biggest contributors to solar plant development expense have gone through the roof since the world began to come out of Covid-19 lockdowns, to leave project developers with some difficult choices.
A report by BloombergNEF and Schneider Electric has pressed the case for governments to unlock the world’s potentially huge rooftop solar potential, and cited California’s solar mandate as a shining example.
‘More than 90’ suppliers of appliances such as solar lanterns and home solar panels, as well as mini-grid installers, will be offered low-interest credit by an assortment of government-backed and privately-financed entities.
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