Cheaper modules brought solar plants into the energy mainstream. Longer operating lives are making them better investments. Big solar plants are getting cheaper to run and expectations for their useful operational lives keep getting longer, according to a new survey of U.S. solar industry professionals. By the end of 2019, a cumulative total of 76 […]
WoodMac: Global Solar Market Set to Resume Growth in 2021 as Coronavirus Impact Fades
After a pause in 2020, the global solar market looks set to chart new heights each year in the 2021-2025 period. The global solar market is expected to stay nearly flat between 2019 and 2020 as a result of the coronavirus pandemic and its economic impacts, according to Wood Mackenzie. But a significant increase in demand is now […]
Huawei, Sungrow and SMA Were the Top Solar Inverter Players in 2019
A rise in solar PV inverter retrofits contributed to the market’s 18 percent growth last year. Huawei, Sungrow and SMA remained the solar inverter market leaders for the fifth year running, based on a new Wood Mackenzie report on the inverter market in 2019. These top three vendors have now held the same positions from […]
Coronavirus Impact Cuts 23GW From WoodMac’s 2020 Global Solar Outlook
Early-stage utility-scale projects face unprecedented headwinds, but the global market could be set for a swift rebound. Wood Mackenzie slashed more than 20 gigawatts off its forecast for global solar deployments in 2020, as the impact of the coronavirus pandemic comes into sharper focus. Construction is slowing, tenders are postponed, and for earlier-stage projects, there […]
3 GW of solar and wind energy projects face delays on COVID-19 lockdown
The timing of the lockdown is unfortunate as the first quarter is typically one of the busiest periods for wind project installations. New Delhi: India could face over 21.6 per cent or 3 Digawatts (GW) of solar photovoltaic (PV) and wind installations being delayed as a result of the country’s lockdown, according to Wood Mackenzie. […]
Global energy storage market to grow over 5-fold to $100 bn by 2025: WoodMac
The energy storage market is anything but predictable. As it continues to mature, more credible pipelines are developing. China, Australia, and the US all have grand ambitions to deploy gigawatts’ worth of energy storage each year out to 2025 New Delhi: The global energy storage market is set to grow 13-fold to 230 GW by […]
WoodMac: Distributed Storage Outlook Shrinks for 2020 Due to Coronavirus
Industry concerns have shifted from supply chain risk to executing projects and bringing in new business. Residential and commercial energy storage installations are taking a hit as the U.S. tackles the coronavirus pandemic. The behind-the-meter storage segment will install 31 percent less capacity in 2020 than previously forecast, according to a new analysis by research […]
Off-grid energy investment at $2.1 billion in the last decade: Wood Mackenzie
Wood Mackenzie estimates 420 million people now use standalone off-grid solar and another 47 million people rely on mini-grids for access to electricity. While investments in energy access have rapidly accelerated since 2016, total volumes still fall short of the total estimated financing needed to reach universal electricity access globally by 2030. Kolkata: Close to […]
WoodMac: Emerging Solar Markets to Come of Age in 2020s
As more countries join the “gigawatt club” this decade, new markets will bring new kinds of challenges for solar. Emerging solar markets will come of age in the 2020 as countries from Saudi Arabia to Pakistan to Malaysia join the “gigawatt club.” Outside of the OECD, there are now auctions planned in 44 countries, and […]
Three-Quarters of New US Generating Capacity in 2020 Will Be Renewable, EIA Says
2020 will be a record year for U.S. renewables construction as 6 gigawatts of coal capacity goes offline, according to new government figures. The U.S. Energy Information Administration has confirmed what it and industry watchers predicted a year ago — that wind and solar power will expand on their already-large share of new U.S. generation […]