Asia

The global energy storage market is growing at a strong 23% compound annual growth rate, with annual additions projected to reach 88 GW/278 GWh in 2030, or 5.3 times the expected 2022 level for new installations, according to BloombergNEF’s 1H 23 energy storage outlook.

Longi Solar is combining forces with solar developer Invenergy to build a 5 GW/year solar module manufacturing facility in Pataskala, Ohio.

U.S. solar was disrupted in 2022, with module seizures delaying projects due to strict laws designed to stamp out alleged forced labor practices in sections of the Chinese PV industry. However, it remains to be seen whether seizures affected such alleged practices.

Maxeon module shipments of 734 MW were above ROTH MKM Partners’ estimate of 699 MW, and a 27.2% improvement over 577 MW shipped in Q4 2021.

pv magazine USA’s recap of notable upstream solar, integrated solar, finance and rooftop installers that reported fourth quarter or fiscal year earnings over the last week.

Growatt has an expansion plan to achieve an annual production capacity of 500,000 units of inverters and 100,000 units of batteries to serve the growing U.S. market as well as other markets throughout the world. 

One of the leading global battery manufacturers, LG Energy Solution, announced an increase of 43% in revenue and nearly 60% in operating profit as it seeks to expand in North America.

The tariff reaches as high as 250% of the cost of solar components shipped from four Southeast Asian countries responsible for 80% of the supply of solar in the US.

Also on the rise: Department of Defense maintains strong commitment to renewable energy. Longroad Energy begins construction of its largest solar-plus-storage project. And more.

Longi Solar said it will invest approximately $6.6 billion in 100 GW of wafer capacity and 50 GW of solar cell capacity in Shaanxi province, China.