Your daily dose of Photovoltaic Technology Developments and Solar News

Solar start-up companies accounted for more than half of the $2.5 billion-plus in venture capital investments made in the final quarter of 2008, according to the latest Venture Power Report issued by Greentech Media. Twenty-nine VC rounds in the solar sector were completed during the quarter, for a total of almost $1.336 billion, outpacing the next busiest sector--ethanol/biofuels/gasification--by a wide margin. The report says that investment numbers should stay strong through 2009, with smart grid, energy storage, and energy efficiency applications as areas of likely focus.

With the emergence from stealth mode of a suite of thin-film companies, many U.S.-based, our North American contributing editor Tom Cheyney has been right in the thick of the reporting action all year. His ‘Chip Shots’ blog has proven such a massive hit in 2008 with PV-Tech readers that it is almost impossible to be selective in picking just a few to mention here in this review.

The PV industry has had another explosive growth year in 2008. As is often the case, news in only the last few months of the year have painted the perception that things are turning for the worse as the credit crunch manifested in the U.S. turns into a global economic recession, impacting the growth in the PV sector along the way. When reviewing the top news stories within the ‘Market Watch’ section, it was pleasing to see that there was a balanced mix between ‘good’ and ‘bad’ news that generated the most traffic.

The Japanese Ministry of Economy, Trade and Industry is planning on boosting subsidies for residential solar installations to the tune of approximately US$100 million in the first quarter of 2009, followed by a further US$200 million and more through FY2009, starting in April, Reuters has reported.

Analysts Ernst & Young have presented their figures for investment in the cleantech industry for the first three quarters of 2008. Venture capital investment in cleantech companies reached a record US$4.6 billion for the period, including data from activity in the U.S., Europe, China and Israel. Data from the U.S. and Europe showed increases in energy generation, making investment in solar energy one of the highest sectors in the region. Total investment following seven rounds of financing amounted to €139 million in the solar sector alone.

The photovoltaics industry will become a victim of its own success in 2009, according to Dr. Henning Wicht, Senior Director and Principal Photovoltaics Analyst at iSuppli Corp. Eight consecutive years of growth coupled to low barriers to entry have resulted in a significant expansion in solar module production that will see supply exceed demand by 102% in 2008 and reach a massive 168% excess in 2009. Module revenues are expected to fall nearly 20 percent in 2009 to US$12.9 billion, compared to 15.9 billion in module revenues expected in 2008.

Panasonic Corporation and SANYO Electric Co., Ltd. have announced their intention to enter into a capital and business alliance agreement that will see Panasonic acquire the majority of the voting rights of SANYO. The two companies will cooperate in business and organizational terms, forming a close alliance in business that will lead to organizational restructurings for both companies.

Organizers of the Solar Power International trade show have decided to move the 2009 event to a larger venue and change the dates. Originally scheduled to be held in San Jose on Oct. 19-22, the show will now take place at the Anaheim Convention Center, Oct. 27-29. The change was made to accommodate the event’s rapid growth and position as the industry’s largest solar conference and exposition in North America.

Suntech Power Holdings has secured more than 130MW in orders from Italy in 2009 and has now established a sales office in Milan to support its growing customer base. The booked orders indicate that the Italian market is finally picking up pace after only 12.5MW was installed in 2006 and 50.2MW installed in 2007, according to a recent EU-funded report.

Masdar City, Abu Dhabi is aiming to be the world’s first zero carbon, zero waste, car-free city powered entirely by renewable energy sources. This ambitious goal is being driven by the Masdar Initiative, a strategic endeavour by Abu Dhabi to spread the dogma of sustainability and clean energy throughout the city’s dwellers, industries and utilities.