Markets

Despite major roadblocks, rooftop solar capacity additions in the country are growing fast, with nearly 2 GW already added in the four months ending July 31, 2023.

The nation has reached a cumulative installed rooftop solar capacity of 9.6 GW as of June 30, 2023.

The Australian Energy Market Operator (AEMO) says that 248 GW of proposed generation projects, storage installations, transmission developments, and government energy programs have the potential to address many of the risks in its latest market forecast – if they are delivered to schedule.

Fraunhofer ISE is helping Holosolis to build Europe’s largest PV factory – a 5 GW solar plant in France – by 2025. The German research institute is providing support in technology selection and factory planning.

The Ministry of Heavy Industries has appointed Engineers India Ltd (EIL) as independent engineers to monitor the progress of the advanced-chemistry battery cell projects awarded under the production-linked incentives (PLI) Scheme. 

TotalEnergies has increased its stake in Total Eren from 30% to 100%, a transaction that values the independent power producer at €3.5 billion ($3.8 billion).

In 2022, off-grid solar energy kit sales reached a record-breaking 9.5 million units. This is almost one million more than 8.5 million units sold in 2019. Of the 9.5 million annual sales, 5.2 million were recorded in the second half of 2022.

In a recent study, researchers from the European Environmental Bureau (EEB), the Stockholm School of Economics (SSE), and the Potsdam Institute for Climate Impact Research (PIK) questioned the planned development of new nuclear capacities in the energy strategies of the United States and certain European countries.

The Indian carbon credit system, operating under the Clean Development Mechanism (CDM) and the United Nations Framework Convention on Climate Change (UNFCCC), stands ahead in several aspects.

India’s robust economic growth translates to rising demand for energy. This demand provides a substantial market for renewable energy investments, encouraging firms to venture into this sector. However, as the nation marches ahead in RE adoption, it needs to overcome challenges like high capital costs and inadequate grid infrastructure.