Markets & Finance

A new report from the Lawrence Berkeley National Laboratory found that new solar and wind capacity drove US$249 billion of economic benefits.

Maxeon Solar Technologies posted net losses of US$14.87 million in its Q1 2024 financial results. It also announced that its future utility-scale solar business will be “focused exclusively on the US”.

The US government has proposed new regulations regarding tax credits for the owners of renewable energy and energy storage facilities eligible for support under the Inflation Reduction Act (IRA).

Juan Monge, principal analyst at Wood Mackenzie, says the EPBD timeline is plausible, although “the devil is in the detail”. 

Responsibility for awarding permits for new renewable projects in Michigan will remain with the state’s Public Service Commission.

Google has signed virtual power purchase agreements (PPAs) with two Japanese companies to build 60MW of new solar capacity in Japan.

The European Council has adopted the EU’s Net-Zero Industry Act as the EU looks to bolster its clean energy manufacturing industries.

Singapore-headquartered solar manufacturer Maxeon has failed to sue fellow manufacturer Aiko Solar over alleged solar technology patent infringement.

Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.

Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.