China

The global energy storage market is poised to grow rapidly in the coming years, with Bloomberg New Energy Finance (BNEF) predicting $620 billion in investment over the next two decades will push cumulative global installations to 942 GW/2,857 GWh by 2040. Declining lithium-ion battery costs are driving much of this growth, with BNEF expecting the cost of utility-scale storage systems to fall roughly 52% through 2030, following an approximate 80% slide in the average price of lithium-ion battery packs in the first seven years of the current decade.

Federal trade authorities in the U.S. have ruled bifacial solar modules will no longer be subject to the Section 201 ruling which applies a 25% tariff to solar panel imports.

Having acted against Turkey, the Trump administration has removed India too from the list of nations exempt from import tariffs on solar cells and modules.

While the world’s biggest solar manufacturers are confident there are plenty of alternative markets for a rising volume of panel exports, the message spelled out by first-quarter shipment figures is that protectionism works.

Chinese solar modules currently meet around 80% of India’s demand. Domestic modules face stiff competition from those imported from China, which cost 10-20% less, even after the imposition of safeguard duties.

With Narendra Modi’s government stunning pollsters with another huge victory, the solar industry expects renewable power momentum to be maintained with steps including anti-dumping duty on solar module imports, a national policy for rooftop solar and an emphasis on easing private-sector participation in the power sector.

Some 168 projects will be developed across 16 provinces free from central government subsidy. The fact the average capacity of such projects has tumbled indicates Beijing’s plan to accelerate the arrival of subsidy free solar may be on track.

The contraction in Chinese trade flows to the U.S. is likely to result in the dumping in India of Far Eastern electronic and electrical components as well as steel, iron, chemicals and plastic products.

The Beijing authorities have confirmed the payment levels to be made according to type of project and region from July onwards but an auction process will be involved so the figures are for guidance only. No decision has yet been made on the 30 GW of capacity added since the end of May.

All-electric buses will cost the same as diesel options by 2030 – and possibly earlier – according to research into the global EV market which highlighted the potential for India to follow China’s lead in the sector.