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GlobalData expects solar PV capacity in China will continue to grow during the forecast period at a CAGR of 18.5%

Market research: Global installed solar PV capacity will exceed 756 GW by 2025


Cumulative global installed solar photovoltaic (PV) capacity is set to continue its growth from 271.4 Gigawatts (GW) in 2016 to 756.1 GW by 2025, registering a compound annual growth rate (CAGR) of 13.1%, according to research and consulting firm GlobalData (London, UK). The company’s latest report states that although growth will decline compared to the 2006–2015 period, which saw an exceptional CAGR of 50.1%, it will remain considerable over the next decade, most notably in China. Read more...

SunPower's X-Series PV panel was tested by NREL under standard test or reporting conditions

SunPower anounces new PV world record; Solar panel achieves 24.1 percent efficiency


SunPower Corp. (San Jose, CA, U.S.) has again set a new solar photovoltaic (PV) panel efficiency record, as validated by the U.S. Department of Energy's National Renewable Energy Laboratory (NREL). After achieving 22.8 percent efficiency for its X-Series solar PV panel earlier this year, SunPower has reached 24.1 percent efficiency – surpassing the previous world record for the highest efficiency of a PV panel using silicon cells. Read more...

Mohammed bin Rashid Al Maktoum Solar Park

Masdar to implement 800 MW 3rd phase of the Mohammed bin Rashid Al Maktoum Solar Park


Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, on June 26th, 2016 witnessed the signing of a Memorandum of Understanding (MoU) between UAE Minister of State and Chairman of Masdar, Abu Dhabi Future Energy Company, Dr. Sultan Ahmed Al Jaber, and Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), Saeed Mohammed Al Tayer, on the implementation of the 800-megawatt (MW) third phase of the Mohammed bin Rashid Al Maktoum Solar Park. The 800 MW third phase will be constructed based on the Independent Power Producer (IPP) model. The selected bidder for the project is a Masdar-led consortium including the Spanish companies FRV (Fotowatio Renewable Ventures) and Gransolar Group. Read more...

The report estimates that global solar PV capacity could reach between 1,760 and 2,500 GW by 2030

IRENA report: Solar PV could meet up to 13% of global power needs by 2030


The share of global electricity generated by solar photovoltaics (PV) could increase from 2 percent today to as much as 13 per cent by 2030, according to a new report from the International Renewable Energy Agency (IRENA). Released on June 22nd, 2016 at Intersolar Europe “Letting in the Light: How Solar Photovoltaics Will Revolutionize the Electricity System” finds the solar industry is poised for massive expansion, driven primarily by cost reductions. Read more...

China, Japan and the U.S. again lead the world's solar PV market in 2015, according to the report

2016: Global solar boom, European PV demand slowing


SolarPower Europe on June 21st, 2016 released its flagship market report the ”Global Market Outlook for Solar Power 2016–2020” showing that a total of 229 GW of solar power was installed in the world end of 2015, an over 45-fold market increase in only 10 years. After the 50 GW annual level of newly added solar photovoltaic (PV) capacity was reached in 2015, the global solar market is well on its way to crack the 60 GW mark in 2016 – the most likely scenario forecasts around 62 GW of newly commissioned solar power this year. Read more...

Hanwha Q CELLS is the first PV company to present a 19.5% solar module efficiency based on multi-crystalline cells

HANWHA Q CELLS announces new world record in multi-crystalline solar PV module efficiency


Hanwha Q CELLS Co., Ltd. (Seoul, Korea, and Thalheim, Germany) has achieved a world-record-breaking multi-crystalline solar photovoltaic (PV) module efficiency. The independent Fraunhofer ISE CalLab confirmed the record PV module efficiency rating of 19.5% in relation to the aperture area and a power output of 301 watts. Read more...

GTM Research annual U.S. energy storage deployment Forecast, 2012–2021E (MW)

Obama Administration announces federal and private sector funding for renewables and energy storage


On June 16th, 2016 the White House hosted a Summit on scaling renewable energy and storage with smart markets. The Administration announced new executive actions and 33 state and private sector commitments that will accelerate the grid integration of renewable energy and storage. Together, these announcements are expected to result in at least 1.3 gigawatts (GW) of additional storage procurement or deployment in the next five years. Read more...

Global solar PV inverter shipments by product type, 2015–2020E

GTM Research: Global solar PV inverter shipments to reach 90 GW by 2020


According to GTM Research’s (Boston, Massachusetts, U.S.) latest report, “The Global PV Inverter and MLPE Landscape 2016”, global shipments of solar photovoltaic (PV) inverters will reach 90 gigawatts (AC) by 2020. This represents an average annual growth rate of 11 percent between 2016 and 2020. Of the 59.7 gigawatts shipped in 2015, 66 percent were in the Asia-Pacific region, led by China and Japan. Read more...

PV research in Germany. ZSW researcher with world-record solar cell

22.6 percent efficiency: ZSW sets new world record for thin-film CIGS solar PV cells


The Centre for Solar Energy and Hydrogen Research Baden-Wurttemberg (ZSW, Stuttgart, Germany) has nudged up the performance bar for thin-film solar cells yet another notch. The ZSW scientists achieved 22.6 percent efficiency with their latest advance, topping the performance of a Japanese-made cell by 0.3 percentage points and bringing the world record back home to ZSW for the fifth time. Read more...

Solar PV module prices drop 20 per cent with every doubling of cumulative installed capacity, finds the report

IRENA report: Average costs for solar PV could fall 59% by 2025


The average costs for electricity generated by solar and wind technologies could decrease by between 26 and 59 per cent by 2025, according to a report released on June 15th, 2016 by the International Renewable Energy Agency (IRENA, Abu Dhabi, U.A.E.). The report estimates that by 2025, average electricity costs could decrease 59 per cent for solar photovoltaics (PV), 35 per cent for offshore wind, and 26 per cent for onshore wind compared to 2015. Read more...

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