Author: solarenergy

ESB Networks announces milestone of 1GW of energy storage for the Irish network. Image: Statkraft ESB Networks has announced that the Irish electricity grid now has 1 GW of energy storage available from various battery energy storage systems (BESS). This figure includes 731.5MW of battery storage projects and 292MW from the Turlough Hill pumped storage power station – which celebrates its 50th anniversary this year. Large-scale battery energy storage projects and Turlough Hill pumped hydro stations are working together to provide flexibility and support more renewable energy sources in Ireland’s electricity system. Energy storage facilities are connected across the grid…

The Dutch government has set aside €100 million ($106.7 million) in subsidies for the deployment of battery storage in addition to PV projects. The funds are part of a €416 million subsidy program announced last year to reduce congestion on the electricity grid. April 18, 2024 Marija MaischAuthorities in the Netherlands have awarded €100 million in subsidies for the deployment of battery storage in solar projects next year, as the country continues to struggle with a lack of energy flexibility and grid constraints.Departing Minister of Climate and Energy Policy Rob Jetten announced the subsidy package as part of the national…

The solar accelerator will support PPAs for schools, businesses and other organizations. Image: Eden Sustainable. Solar energy developer and construction company Eden Sustainable has secured £75 million from Thrive Renewables for a solar accelerator facility fund. The agreement will see Eden accelerate the rollout of private solar purchase agreements (PPAs) for schools, businesses and other organizations across the UK. National Grid recently allocated £2.3 million to support the Solar for Schools initiative. The companies said the facility has been provided with 15 schools through PPAs, which are estimated to save 8,000 tonnes of CO2 emissions and a total of £3…

The partnership means that British Gas can install solar and battery technology for eligible customers in Scotland, England and Wales for the first time. Image: Centrica. British Gas has partnered with Forster Group to expand its solar reach into Scotland, helping the company meet growing customer demand for solar panel and battery storage technology. Susan Wells, director of low carbon homes at British Gas, said: “We are committed to providing the right products and solutions to help people reduce carbon emissions in their homes and save money on their bills in a way that works for them through British Gas…

The IPA pointed out that the project’s improved energy efficiency will reduce energy costs to taxpayers by more than £1 million per year. Image: Ministry of Justice. Mitie Care & Custody has been awarded the ten-year contract to operate HMP Millsike, Britain’s ‘first all-electric’ green prison, which will be powered by solar energy. It will be the first prison in Britain to run entirely on electricity. In addition to solar panels, heat pump technology will be implemented. This means it will use around a quarter of the energy required to heat traditional Victorian prisons. Improved, ultra-efficient LED lighting systems will…

Mercom Capital Group says total corporate solar financing, global venture capital financing, public market financing and PV system mergers and acquisitions all fell year over year in the first quarter of 2024. The sector is still struggling with high interest rates, says Wood Mackenzie. disproportionately affects renewable energy projects. April 19, 2024 Patrick JowettThe global solar industry is experiencing “peak uncertainty and a challenging investment environment,” says Raj Prabhu, CEO of Mercom Capital Group, in the consultancy firm’s new advisory report. report on financing and mergers and acquisitions (M&A) in the first quarter of 2024.Mercom said total corporate financing in…

A new report from Wood Mackenzie examines how the global shift to higher interest rates to combat inflation is putting pressure on the energy transition. April 23, 2024 Ryan KennedyBy pv magazine USAAfter a period of historically low interest rates from 2009 to 2022, central banks sharply raised interest rates to combat inflation. Rising capital costs have “profound implications” for the energy and natural resources industries. Wood Mackenzie said in a recently published report.The transition to a net-zero economy could require $75 trillion in investment globally by 2050, the research firm said. The higher capital costs pose a challenge to…

The 14th meeting of the International Renewable Energy Agency (IRENA) last week in Abu Dhabi underscored the central role of geopolitics and security in today’s global energy landscape. The meeting also called for greater action to achieve the COP28 target of tripling the deployment of renewable energy sources by 2030. April 23, 2024 Emiliano BelliniThe opening of IRENA’s 14th meeting by President Francesco La Camera highlighted the urgency of implementing specific strategies to help the world meet the 2030 target set at last year’s COP28 conference in Dubai. The goal is to triple global solar capacity by the end of…

Chinese module manufacturer JinkoSolar has posted 2023 sales of approximately $16.4 billion and net profit of $1.06 billion, with PV module shipments reaching 78.52 GW. Module production capacity reached 110 GW at the end of December. April 24, 2024 Vincent ShawChinese solar panel manufacturer JinkoSolar has unveiled its 2023 financial report, showing remarkable growth in both revenue and net profit. It said it posted revenue of CNY118.682 billion ($16.38 billion), up 43.55% from the previous year. Net profit attributable to shareholders of listed companies reached CNY7.440 billion ($1.06 billion), up 153.20% year-on-year.It attributed the revenue increase to a significant increase…

Credit: Amazon On April 16, nearly 200 solar and storage companies sent a letter to congressional leaders calling for legislation to improve permitting, project siting, transmission, and access to public lands for solar and solar + storage projects. Market forecasts indicate that a range of policy and economic outcomes will determine the scale of solar deployment over the next decade, including regulatory factors and the pace of transmission capacity expansion. Companies across the solar and storage value chain are calling on lawmakers to propose licensing and siting reforms that could support the sector’s growth trajectory. “There are hundreds of billions…