According to provisional data from BloombergNEF (BNEF), global solar PV installations reached 109GW in 2018 as the cost of installing a megawatt of photovoltaic capacity fell 12%, which spurred markets outside China to increase installations.
A series of issues that initially centered on the US Section 201 case, the US v China trade, China’s 531 New Deal and India’s trade tariffs, combined to slice around US$3 billion from the total global corporate funding into the solar sector in 2018, according to Mercom Capital Group.
The developing post-subsidy solar market in Europe has taken another step forward with the news that UK-based investor Octopus has extended five power purchase agreements in Italy with renewable energy trader EGO Group.
US-headquartered high-efficiency PV module producer SunPower Corp has concluded the sale of its US residential lease portfolio with a subsidiary of Hannon Armstrong as the company sells assets to improve its balance sheet.
Finlay Colville, head of market research at Solar Media, details precisely how the UK’s post-subsidy solar pipeline has soared to just shy of 3GW, while simultaneously forecasting something of a revival for UK solar in 2019 with 500MW to be developed.
‘Silicon Module Super League’ (SMSL) member Canadian Solar has lowered its full-year 2018 revenue guidance for a second time, citing a closer focus on profitability through PV power plant project selection and manufacturing cost and capacity expansion controls.
Solar PV is “charging ahead” across the world as it outpaces other renewables, but far more significant action is required if a climate crisis is to be averted, the International Energy Agency (IEA) has warned.