Markets

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.

The International Renewable Energy Agency (IRENA) says developers installed 345.5 GW of solar throughout the world in 2023. China mainly drove the surge, accounting for nearly three-quarters of all new renewable energy, but IRENA says more equitable growth will be needed to hit 2030 deployment targets.

The United Arab Emirates (UAE) tops in green hydrogen competitiveness with the world’s lowest levelized cost of hydrogen (LCoH) of $2.7/kg in 2023 and a projected $1.7/kg in 2030. It is followed by Saudi Arabia and India, which could produce green hydrogen at $2.9-$3.2/kg in 2023 and $1.8/kg in 2030.

The International Renewable Energy Agency (IRENA) released a new report on the sidelines of the Berlin Energy Transition Dialogue this week describing the actions needed so the world complies with targets set at the recent COP29 conference in the United Arab Emirates. IRENA President Francesco La Camera says renewables are the only energy sources with the speed and scale to achieve the ambitious targets set in Dubai.

France’s TotalEnergies says it has signed 1.5 GW of on-site solar power purchase agreements (PPAs) with more than 600 industrial and commercial customers in more than 30 countries.

Analyzing a global dataset of 125 GW of PV systems, drone operator Raptor Maps marked a rising trend of system underperformance.

Delta Electronics, which has been present in India for the last 20 years, recently launched its containerized data center solution in the country. With all subsystems such as UPS, power distribution, battery, cooling, and racks well integrated, this plug-and-play solution ensures rapid deployment for edge computing applications in the IoT world. On the occasion, pv magazine spoke to Rajesh Kaushal, vice president of Delta Electronics India, about their containerized data center solution, lithium-ion battery and solar inverter business, and future plans for India. 

Bloomberg NEF says U.S. clean energy generation grew by 0.9%, with wind and hydro generation falling and solar generation growing 15.4%.

The 22 MWp floating solar project will be developed by SJVN with Hartek Solar as the engineering, procurement and construction (EPC) service provider.

Wood Mackenzie says the levelized cost of electricity (LCOE) in the Asia-Pacific region hit an all-time low in 2023, as utility-scale PV beat coal to become the cheapest power source. It predicts a further drop in costs for new-build solar projects, driven by falling module prices and oversupply from China.