Shifting solar sands as IRENA, U.S. ITC plans take shape

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

The promotion of renewable energies took on a potentially new meaning when the International Renewable Energy Agency (IRENA) was officially initiated, with 75 nations signing the new Agency’s statute on January 26, 2009. Major countries already committed to solar energy signed at the conference, held in Bonn, Germany. Pro-renewable countries such as Spain, Italy, Denmark and Germany were notable for joining from the industrialised world, though the United States was not a signee at the conference.

A key goal for IRENA is to support the growth of renewable energy at the regional level but also on a global basis. Until now, there had been no international organisation that offered industrialised and developing countries support specifically focused on encouraging and developing renewable energies.

Importantly, IRENA is aimed at providing access to successful policies as well as state-of-the-art technologies and their possible transfer, both separately and in integrated approaches.

First Solar, one of the fastest-growing solar module manufacturers, has applauded the establishment of IRENA as a U.S.-based effort that is international in sales and manufacturing. First Solar urged the United States to join and actively support the initiative.

“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”

Ahearn also said in a statement that he expected IRENA to become a serious force in identifying and promoting best practices, which will encourage renewed investments in renewable energies from governments through to the public.

President Obama of the United States has repeatedly described his vision of the country becoming the largest adopter of renewable energy. The U.S. joining IRENA would send a message to all industrialised nations that renewable energy would be a priority for economic and environmental reasons.

Yesterday, the U.S. Senate proposed improved revisions to the stimulus package that tackled problems with obtaining lines of credit for renewable projects. Should these proposals be included in the ITC, Barclays Capital financial analyst Vishal Shah estimates that solar PV demand in the U.S. through 2011 could be as large as 5.5GW to 7.5GW.

“Even if the commercial solar PV opportunity turns out to be 50% below our estimate, the US solar market could still grow between 3.5GW and 5.5GW through 2011,” noted Shah in a report to clients.

9 December 2021
The Smart Energy Council is hosting Australia’s second Virtual Smart Energy Conference and Exhibition on Thursday, 9 December 2021. This event will show that the industry powers on despite COVID-19 and we are standing together undeterred in spirit. Bringing our global community together using the latest technology.
13 January 2022
Intersolar North America and Energy Storage North America “Come Together” for the first time in Long Beach, CA—connecting installers, developers, utilities, technology providers, policy makers, and key stakeholders from around the world to advance the clean energy future. With best-in-class conference programming, integrated exhibits and pavilions, and the live Solar Games installer competition, #isnaesna21 will showcase the industry trends, innovative solutions, and emerging talent transforming the solar, energy storage, and e-mobility markets. Register today to redeem our exclusive offer for PV Tech readers—free expo hall or 20% off full conference pass.
1 February 2022
As Solar Finance & Investment enters its ninth year, we sit on the cusp of a new power market with solar at its heart. The 2022 edition of the event will build on our years of expertise and relationships to bring investors and lenders together with top developers. Connect with leaders in the field and use exclusive insights to drive investment and development decisions for the future. Meet new and existing project partners at the largest gathering of European solar investors and lenders.
23 February 2022
Held annually since 2016, the Energy Storage Summit Europe is the place to be for senior stakeholders in the European storage industry. Designed to accelerate deployment of storage, we examine evolving chemistries, business models, project design, revenue stacks and use cases for storage. The 2022 edition will include exclusive content around longer duration solutions, energy strategies for wide-scale deployment of EVs and "EnTech", the event which sits at the intersection of digitisation, decentralisation and decarbonation of the power system. Come to meet TSOs, DSOs, Utilities, Developers, Investors and Lenders and leave with new contacts, partners and a wealth of information.
7 March 2022
Take your chance to join the most powerful platform in the MENA region. Middle East Energy (MEE), Intersolar, and ees, the leading energy exhibitions are joining hands to co-deliver an outstanding renewables and energy storage event at Middle East Energy 2021. Renewables and energy storage at MEE is the largest gathering of solar and renewable energy industry professionals in the Middle East & Africa, offering the most effective trade focused platform to international manufacturers and distributors looking to meet regional buyers.
23 March 2022
When it comes to storage, the US market exceeded a gigawatt of advanced energy storage installations (weighted towards lithium ion) at 1.46 GW, more than the previous six years in total! An exponential growth rate could see the market hit 7.5 GW p.a. by 2025. The summit will provide a wealth of content around this vital piece in the US power puzzle, with sessions dedicated to explore how companies are making money from batteries, the latest chemistries and their applications as they apply to different use-cases. We ask how investors can match ESG criteria to batteries and we will bring case studies of successful deployment and project execution onto the stage to examine how you can ensure your own projects are successful.

Read Next

PV Tech Premium
December 6, 2021
PV Tech Premium breaks down the key schemes and incentives that exist for companies that want to invest in India's growing solar market
December 6, 2021
Solar deployment in India is faltering as high module prices impact project construction, according to new analysis from Bridge to India.
December 6, 2021
The new edition of PV Tech Power, volume 29, is now available to download, including our comprehensive cover story on solar’s critical next decade.
Sponsored
December 6, 2021
UK-based solar PV inspection and data analytics company Above details how its ‘Follow PV’ project, launched alongside the University of Essex, is enhancing the research and development of autonomous drone technology in utility-scale solar.
December 6, 2021
Daqo New Energy has begun pilot production at its new 35,000MT Phase 4B polysilicon production facility, which has been completed ahead of schedule.
December 6, 2021
China’s National Energy Administration has kickstarted the second batch of large-scale wind and solar PV projects under the country’s multi-hundred-gigawatt desert renewables scheme.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal