The decision of US President Joe Biden to waive tariffs on solar imports from Southeast Asia for two years and authorise the US Department of Energy (DOE) to use the Defense Production Act (DPA) to accelerate the production of clean energy technologies, including PV modules and module components, has been broadly welcomed by the US solar sector and industry analysts.
Greek renewables developer Mytilineos is developing more than 750MW of solar PV in Chile, nearly 600MW of which is considered at a mature stage, PV Tech can reveal.
UAE-owned renewable energy company Masdar has penned an agreement with the Ministry of Energy of the Republic of Azerbaijan to develop up to 10GW of renewables in the country as Masdar continues to expand its international presence.
India’s renewable capacity now stands at 109.9GW as of the end of March, with solar accounting for 53.4GW (47%), while another 72GW of solar is either in the pipeline or at bidding phase, according to JMK Research.
The G7 have agreed not to fund any overseas fossil fuel projects by the end of this year at a meeting in Berlin, Germany in which they also doubled down on their commitments to a faster energy transition in light of Russia’s invasion of Ukraine.
The European Union’s REPowerEU strategy could be thwarted by higher material and module costs as a “perfect storm” looms over the sector following the pandemic, according to analysts Wood Mackenzie.
India’s solar sector is in a tricky place at the moment, with module price inflation, manufacturing incentives and geopolitical events causing disruption to the industry, pushing up average tariffs and lowering returns on solar investments. PV Tech Premium picks apart what is going on behind the scenes.
Module price increases, higher raw material costs and logistical challenges will pull down the return on equity (ROE) for 25GW of India solar projects, with 5GW of those at high risk given when they submitted their bids.
