Markets

India invited bids to set up 69.8 GW of renewable energy capacity, far surpassing the annual bidding target of 50 GW. The bidding activity surged due to large-scale potential for market growth, central government support in terms of targets and regulatory frameworks, and higher operating margins.

Battery prices reached an all-time low in 2023 led by the moderation in raw material prices amid the increase in production across the value chain

The ongoing price war between top global suppliers could catalyse more competitive solar panel pricing in the Indian market, potentially leading to an increase in solar adoption at both the commercial and residential levels.

Alberto Boretti was a senior research professor at Prince Mohammad Bin Fahd University in 2021 when he first started discussing the idea of a hydrogen city in Al Khobar, Saudi Arabia. The New Zealand-based independent tells pv magazine that it is now commercially feasible, as the city’s 200 MW of energy demand would necessitate 1 GW to 1.3 GW of solar and wind capacity, 509 MW to 997 MW of electrolysis capacity, and 145,000 MWh of hydrogen storage capacity.

IEA PVPS has published its new “Snapshot of Global PV Markets 2024” report, highlighting key insights and trends. Despite record installations, concerns over profitability and manufacturing dynamics persist, underscoring the need for strategic interventions and policy support to navigate towards a resilient and sustainable PV ecosystem.

The European Investment Bank (EIB) has agreed to lend €150 million ($160.2 million) for renewables in Bhutan, in order to fund solar and hydropower installations in remote regions. Solar facilities are expected to reduce Bhutan’s reliance on energy imports during the dry months of the year and diversify the nation’s electricity mix.

The Ministry of New & Renewable Energy, Government of India, has extended the deadline for submission of R&D proposals under National Green Hydrogen Mission, to April 27, 2024.

Overcoming industry challenges requires collective efforts and partnerships that foster innovation and shared growth. This is why digital ecosystems are now becoming the buzz words and a necessity for the manufacturing companies in the renewable energy value chains.

The European authorities are trying to determine whether two consortia – including subsidiaries of Longi and Shanghai Electric – violated the new EU rules on foreign subsidies when they participated in a procurement process in Romania for a 110 MW solar farm. The European Commission is expected to make a final decision within 110 working days.

Energy storage is the new solar for an increasing number of Chinese PV manufacturers. However, China still requires enabling policies for storage to provide the end-market volumes needed to bolster the fortunes of manufacturers old and new.