Huawei, Sungrow and SMA dominate global inverter market
Analysis from Wood Mackenzie shows global inverter demand grew 18% last year. The ten largest inverter suppliers accounted for 76% of the global trade.
Despite solar woes, Tesla turned its first-ever profitable Q1
Tesla finished Q1 2020 with a positive GAAP net income, driven by the profitability of the Model Y. However, the story was not so bright for solar, storage or corporate governance.
Soros Fund Management, Siemens make a big bet on EV charging
The two companies have invested $13.2 million into Amply Power, a service that combines EV charging hardware distribution and fleet management software into one customer-focused package.
Morning Brief: Solar and wind are the cheapest new sources of electricity, Appalachian Power halts distributed projects
Also in the brief: Ohio regulators have approved an 80 MW array, Sierra Club responds to Duke’s climate report, Rhode Island funds brownfield projects and more.
Duke doubles renewable goals while staying committed to fossils
The utility giant now owns or purchases 8,000 MW of renewable generation, with plans to double that mark by 2025. However, while the company eyes zero-carbon electricity by 2050, it maintains that natural gas will remain a crucial source to achieve this goal.
Morning Brief: New Zealand invests in flow batteries, ‘NextGrid’ goes off the rails
Also in the brief: Tesla’s Q Con virtual power plant presentation, the University of Arkansas’ solar design contest, M&A during the pandemic, dodecahedrons and more
Pandemic-related uncertainty in the US solar industry — and the case for an ITC extension
Renewable energy industry officials are hopeful that a post-pandemic comeback is possible in 2021 but, “Supply chain issues haven’t played out yet,” said George Strobel of Monarch Capital.
Battery startup FreeWire raises $25 million in funding
The funding was led by an existing investor of FreeWire, BP, and will allow the company to commercialize its upcoming Boost EV Charger, as well as expand operations across the United States and into Europe.
Sweden joins European trend and exits coal — two years earlier than planned
The Nordic nation is now the third European country to wave goodbye to coal for power generation. Another 11 European states have made plans to follow suit over the next decade.
Morning Brief: Illinois’ largest project has a power contract, financing secured for 134 MW in North Carolina
Also in the brief: Solis has earned SunSpec rapid shutdown certification, EDF renewables has partnered with Cubic Corporation on a solar, storage and EV charging installation, NextEra Energy has raised $4 million in COVID-19 emergency assistance and more.
