Worldwide PV growth set to slow in 2024
The number of PV installations around the world grew by an annual average of 28% between 2019 and 2023, including a 56% jump from 2022 to 2023, according to Wood Mackenzie. Growth is not expected from 2024 to 2028, however.
A look back at solar in 2023
The Indian government has demonstrated a robust commitment to advancing solar energy by implementing various strategic initiatives.
India has awarded more than 8 GW of utility-scale energy storage in tenders as of November
A new report by IEEFA and JMK Research says energy storage systems are poised to attract the highest investment of all emerging renewable energy sectors this decade, concurrent with the increasing penetration of renewable energy in the nation’s electricity grid.
India exported solar modules worth $1,136 million in April-October this year
India’s solar PV module exports in the April-October period of the current fiscal 2023-24 have surpassed module exports in the twelve months of the last fiscal.
PLI Scheme will boost indigenous production of solar panels: Union minister Bhagwanth Khuba
The Union Minister of State for New & Renewable Energy, Bhagwanth Khuba, also exhorted the manufacturers to be reasonable in pricing solar modules and not take undue advantage of basic customs duty by spiking domestic panel prices.
China’s monocrystalline PERC cell prices extend losses while TOPCon cells hold steady
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.
Essar to develop 1 GW green hydrogen project in Gujarat
Essar Group will develop a 1 GW green hydrogen project in Gujarat with an estimated investment of INR 30,000 crore ($3.6 billion).
Mahindra & Mahindra sells solar assets to InvIT owned with Canadian pension fund
Mahindra & Mahindra Group has announced the cessation of its solar subsidiaries Emergent Solren, Mega Suryaurja, Megasolis Renewables, Neo Solren, Astra Solren, and Brightsolar Renewable Energy.
Nextracker hits 10 GW milestone in Middle East, Africa, and India solar power markets
Nextracker’s smart solar trackers are now either operational or under fulfillment for 10 GW of PV projects located in the Middle East, Africa, and India.
Mitigating solar supply chain challenges
Large-scale solar projects in India are facing delays of at least two-three months. The primary reason is Indian companies’ dependency on Chinese products and equipment, which may result in shipping delays and cost fluctuations. But, many companies in India have their solar module stocks already ready and can provide their products at the same price as Chinese brands, Tanmoy Duari, CEO, AXITEC Energy India, tells pv magazine.
