Aided by falling production costs and policies encouraging a shift to green energy, renewables’ share of the global energy mix could soar from 5% in 2018 to almost 60% by 2050, BP has said in its latest energy outlook.
Major merchant solar cell producer Aiko Solar may have increased first half year revenue 30% compared to the prior year period, but COVID-19 and solar cell average price declines, triggered by weak demand, sent net profits falling by 68% year-on-year.
A round-up of the latest news from the US, where SEIA endorses a tax exemption for solar projects in California, an ex-CAISO chair calls for additional storage and 174 Power Global energises a 180MW facility in Texas.
Hit by grid connection challenges, large-scale renewable energy projects committed in Australia in the second quarter of 2020 were at their lowest level since 2017, according to new data from the Clean Energy Council.
The solar sector’s Q2 results season showed that, for the most part, the pandemic’s impact on deployment in the US was restricted to early in the quarter, helping many companies post better-than-expected performance in Q2. But as Liam Stoker suggests, COVID-19’s tail could be longer than anticipated.