The search is on for the next source of solar finance once the Investment Tax Credit winds, and some elaborate ideas are on the table. Just don’t mention sub-prime mortgages, says Felicity Carus.
Benchmarking companies in the solar PV industry used to be straightforward. Some companies made key materials (polysilicon, wafers, cells, modules or thin-film panels); others bought and sold these locally or through the value chain. Then project developers and installers added inverters and mounting and built the PV systems. Customers typically released cash up-front, owned the systems outright and could then sit back and enjoy a revenue stream linked to a government incentive.
With the cost of project finance in some emerging economies proving prohibitive, Holger Janke of solar manufacturer Soitec explains how project bonds could help fill the gap open up new markets.
Toshiba Corporation has announced that it will market an onsite consumption solar power system for apartment buildings in Germany from March next year.
This week, the EU imposes duties on Chinese solar glass manufacturers, Imec and Fraunhofer ISE both enjoy efficiency breakthroughs, Trina and Bosch add manufacturing capability, and India and Bangladesh sign a renewables pact.
China’s National Energy Administration (NEA) has forecast that on grid solar capacity in the country will reach 10GW by the end of 2013, according to state news agency Xinhua.
Hanwha Chemical, the owner of PV module manufacturer, Hanwha Q CELLS, has made a US$188.5 million cash injection into the company to expand capacity and expand its downstream PV project business.
Due to previously announced working capital constraints, China Sunergy (CSUN) was forced to increase its exposure to providing PV modules under OEM agreements in the third quarter of 2013.
SolarCity is to offer business customers an energy storage unit option using technology from electric car manufacturer Tesla.
Tier one Chinese PV manufacturer, ReneSola has reported another quarter of record shipments and revenue that exceeded guidance as its PV module and OEM business continued to increase.