BNEF predicts that solar PV capacity will grow 17-fold, and wind six-fold, by 2050, to account for nearly half of global electricity generation. Investments will reach $11.5 trillion. Cost reductions will drive this charge, particularly in the battery market. Despite this, the electricity sector is still failing to bring CO₂ emissions down to the required levels.
The analytics firm is the latest to predict a decline in global PV demand this year and crushed global module prices due to Chinese policy changes. TrendForce also finds that the protectionist moves taken by the U.S. will be weakened by falling module prices.
According to the latest GTM Research statistics, global inverter shipments increased 23% in 2017, and revenues 11%, thus representing another record year. A market first, three-phase string inverter shipments overtook those of central inverters.
Taiwan has filed a complaint with the WTO over the Trump Administration’s decision to impose safeguard tariffs of up to 30% on crystalline silicon solar cell and module imports.
Longi Solar’s planned PV fab in Andhra Pradesh will manufacture 500 MW of cells and 500 MW of modules. The facility will seek to take advantage of India’s partial exemption from the recent U.S. solar tariffs under Section 201.
The latest reactions to President Trump’s tariffs on imported solar include the Korean Government’s announcement that it will file a petition with the World Trade Organization (WTO) and Mexico’s promise of legal action.
BNEF has released its top 10 clean energy predictions for 2018, including at least 107 GW of solar PV installs. China will lead, but Latin America, Africa, Asia and the Middle East will notably up the ante. India will install less RE than in 2017, but will see fossils outpace RE for the last time; and China will see distributed grid connected solar leading the market. Li-ion prices are also declining, while EV sales grow.
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