16 May 2016 2016 06:45 PM GMT

Overcoming Challenges, Solar Market Growth Is Becoming Irresistible

Bloomberg New Energy Finance reported a US $329 billion investment in renewable energies in 2015. Up by 4 percent from the previous year and it has exceeded the 2011 record by 3 percent. Global energy exhibitions such as Intersolar and ees exhibitions are experiencing high demand according to forecasted attendance numbers for the solar market. Ees Europe already increased fivefold last year, with an expected 40 percent expansion to be added this year. A growth of 50 percent is also expected for the US and Brazilian markets and this suggests solid growth in the region.

2015 figures show record growth for renewable energy, despite the fall in oil and gas prices. China, Africa, Latin America and India are the primary drivers of global energy transition, in addition to the United States, which has now become the second largest photovoltaics market worldwide, after China.

GTM Research predicts a 119 percent increase for the US market in 2016; as around 16GW of solar output is due to be added to the 7.3GW installed in 2015. Last year saw a record growth of 15GW for China while India expands on its ambitious plans to add 4GW throughout 2016, a portion of the 100GW the country plans to add by 2022.

Further predictions by GTM Research include the doubling of solar installations in Latin America, set to reach 2.6GW. Chile, Honduras, Mexico and Brazil are the current frontrunners, with energy storage markets on a very positive growth course.

Solar power is becoming increasingly competitive and is leading to reductions in the costs of photovoltaics. Emerging and developing countries are seeing a new focus on wind and solar power as generating it is often considerably cheaper than buying electricity from the grid. The improved speed of installation allows for renewable energy systems to be positioned in areas with greatest electricity demand. Solar and wind power offer long-term solutions, which also offer independence from fluctuations in fossil fuel prices.

While 2015 saw the domination of the photovoltaics markets from countries such as China, Japan, and the USA, Europe reached a milestone at 100GW. It was the first time in three years that the European solar market had grown. Predictions by SolarPower Europe, the new EPIA (European Photovoltaic Industry Association), include a comeback for solar in Europe with stabilisation due to happen at a higher level in 2016. It is believed that new installations could enable outputs of 10GW or more during the next few years. Globally, total photovoltaics have already exceeded 300GW.

Currently on the rise are battery storage systems. According to GTM Research, the number of energy storage systems installed last year, totalling 221MW, was greater than the combined output installed in 2013 and 2014. The US storage market, by contrast with 2014, grew by 243 percent.

Europe is witnessing a similar situation with the extension of Germany’s renewable energy storage program, which took place in March. BSW-Solar, the German Solar Association, are expecting increased demand as a result of attractive cost reductions made to domestic storage options for homeowners. After installations of over 35,000 solar storage systems in Germany alone, the outlook for the future of the photovoltaics industry is positive and for Intersolar and ees, prospects look good.

August 16th 2019
Corporate Sourcing of Renewables Growing, Taking Place in 75 Countries

Companies in 75 countries actively sourced 465 terawatt hours (TWh) of renewable energy in 2017, an amount close to the overall electricity demand of France, according to the report from the International Renewable Energy Agency (IRENA). With the continued decline in the costs of renewables, the report suggests, corporate demand will continue to increase as companies seek to reduce electricity bills, hedge against future price spikes and address sustainability concerns.

August 14th 2019
Wind: China Maintains Emerging Markets Top Spot Following 19.7GW Build Boom

Wind industry intelligence service A Word About Wind has launched its Emerging Markets Attractiveness Index report for 2018, which provides insight and analysis into the most attractive emerging markets for wind companies. The index, now in its second year, ranks the top 30 emerging markets that investors should consider when investing in wind in Europe, Africa, Asia and Latin America. The list considers factors including political and economic stability for investors, alongside the growth of electricity demand and potential for wind growth, in order to rank the countries by overall potential. As with last year’s report, China tops the list and the ongoing trade war with the US shows no sign of slowing China’s formidable growth.

August 9th 2019
Arsenal Unveil Battery Storage System: First Of Its Kind At A UK Football Club

Arsenal Football Club has unveiled a battery storage system (BSS) to store enough energy to run the 60,000 seater Emirates Stadium from kick-off to full time. It follows a unique collaboration with Pivot Power to install a 2MW/2.5MWh lithium ion BSS, with funds managed by Downing LLP. The project, the first of its kind in the UK, will also save club money as it works to support low-carbon plans. The BSS allows Arsenal to avoid peak power prices, buying electricity when it is cheap and storing it for use when prices are high. Typically, energy can cost three times more at peak times than overnight. The installation maintains Arsenal as the leader in sustainability in sport following its commitment to clean energy with Octopus Energy in 2016.

August 12th 2019
EU Approves Ambitious Energy Efficiency Goals, Encourages Clean Energy Feed-In

Europeans will now be entitled to consume, store and sell the renewable energy they produce in line with ambitious targets set by the EU. The targets are to be reviewed by 2023, and can only be raised, not lowered. By making energy more efficient, Europeans will see their energy bills reduced. In addition, Europe will reduce its reliance on external suppliers of oil and gas, improve local air quality and protect the climate. For the first time, member states will also be obliged to establish specific energy efficiency measures to the benefit of those affected by energy poverty. Member states must also ensure that citizens are entitled to generate renewable energy for their own consumption, to store it and to sell excess production.

August 12th 2019
Battery Boom: Wind And Solar Can Generate Half Of Worldwide Electricity By 2050

Coal is to shrink to just 11% of global electricity generation by mid-century, from 38% now, as costs shift heavily in favour of wind, solar and batteries. Wind and solar are set to surge to almost “50 by 50” – 50% of world generation by 2050 due to reductions in cost. “Cheap battery storage means that it becomes increasingly possible to finesse the delivery of electricity from wind and solar so that these technologies can help meet demand even when the wind isn’t blowing and the sun isn’t shining. The result will be renewables eating up more and more of the existing market for coal, gas and nuclear.”

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