Annual investment in solar and wind generation in the Asia Pacific region could double to US$1.3 trillion by 2030 compared to the previous decade, with policy targets and cost declines boosting growth, according to research firm Wood Mackenzie.
The US installed more than 5GWdc of solar capacity in Q1 2021, taking its cumulative capacity past the 100GW barrier, but supply chain constraints could pose a major barrier to further growth.
Israeli developer Solegreen has invested US$104 million in solar installer Kuubix to help it pursue an "aggressive" expansion strategy across its core markets in the US.
This year is set to be a record-breaker for renewables auctions in Europe, as countries across the continent look to increase clean energy deployment to reach 2030 emissions reductions targets.
New solar capacity installations in the US are expected to rise 43% this year as the industry recovers from the worst impacts of the COVID-19 pandemic, according to a new study by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
China’s newly announced ambition to reach carbon neutrality by 2060 and peak carbon emissions before 2030 looks set to spur on investment in solar and battery storage technology, as the country diversifies its power mix away from coal.
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives.
Inverter failures and the prevalence of auction-based mechanisms for large-scale solar projects are placing pressure on solar operations and maintenance (O&M) prices, a new report from Wood Mackenzie has found.
SEIA, WoodMac point at robust utility-scale segment as they predict 33% year-on-year jump in PV additions, with residential still expected to take major hit from pandemic in 2020 and 2021.
