India’s coal-power plant developers are reconsidering several projects after the plunge in the cost of solar panel improved the economic viability of renewable energy projects. After a series of federal auctions solar has become the cheapest source of electricity in India and the coal industry is suddenly struggling to make projects economically viable.
According to a report published by the International Renewable Energy Agency solar employment is growing nearly 20 times faster than the average for the US economy. While all three of the major solar companies in the US lost a great deal of money last year and two are under investigation by the SEC the industry itself is growing more economically viable.
Fresh price reductions from China have battered Europe’s solar industry, pushing the German company SolarWorld into insolvency and erasing quarterly profits at SMA Solar. This is the latest in a series of blows that have struck the German company which was once the largest solar panel maker in Europe. Last week’s announcement caused Solarworld stock to plunge and left the companies 3,000 employees in a state of uncertainty as to their future.
In recent years the residential solar industry has been one of the hottest industries in the United States with the market leader SolarCity growing by 50% yearly. Growth has been driven by falling solar costs as well as tax credits such as the California Solar Initiative, and the Investment Tax Credit.
German based energy supply company, E.ON is looking to move into the U.K. and enter the energy storage and solar energy markets. The company unveiled their available solar and storage system technologies to U.K. customers this week. E.ON Solar and Storage will be installing solar and energy storage systems for both existing E.ON customers and… Keep reading →
Minnesota now boasts the country’s first attempt to collectively source power from community solar gardens with municipal governments. The results were “modestly successful.” The difference between this program and others of a similar vein in other parts of the country comes down to cost savings. None have set out to invest in community solar with… Keep reading →
California is no stranger to subsidizing renewable energy – and now, there is a newer and bigger subsidy that has just been approved, this time attempting to invigorate the energy storage market. California’s Self-Generation Incentive Program (SGIP) has been a major success in the past years. The subsidy that was geared towards incentivizing the growth… Keep reading →
In past years, the costs associated with residential PV solar systems have been left up to the imagination of the companies installing the systems. The parameters of this industry’s guessing game are about to change according to a recent report from the US National Renewable Energy Laboratory (NREL). The NREL has decided to team up… Keep reading →
Two explosive growth markets are renewable energy (RE) and the Internet of Things (IoT) technologies and both play a crucial role in creating value. The emphasis on how software and analytics can drive energy savings along with renewable energy and energy conservation measures (ECM) will be examined. Companies, like Arkados, exist that operate in the solar (through its recently announced acquisition of SolBright Renewable Energy), LED lighting, and IoT markets.
There are many reasons why the solar energy industry has been in the news so often lately. Within the last decade, costs have taken a nose-dive, while volume and usage have steadily climbed. Within the next 30 years, the International Energy Agency predicts that solar energy could count for up to 16% of the globe’s entire energy. As it stands, it generates 1%. However, analysts have been critical of this optimistic growth potential, citing that it would only be possible if governments change their policies concerning solar energy.
