India cancels plans for coal power stations as solar prices hit record low

May 26, 2017 by  
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India has canceled plans to construct nearly 14 gigawatts of coal-fired power stations in the country as prices for solar electricity “free fall” to levels once considered impossible, The Independent reports. Experts expect a profound shift in global energy markets as the cost of solar has dropped by 25 percent in some regions. Tim Buckley, the director of energy finance studies at the IEEFA, explains that 13.7GW of coal power projects have been canceled just this month. He added that the dip in solar prices is so low, it will never be repeated. A few factors have contributed to the decline in solar prices. Reportedly, the price of photovoltaic panels — which account for a major percentage of solar power plant’s costs — have dropped by a staggering 30 percent in the past year. This has helped lower prices. Additionally, the Narendra Modi government is working hard to “assure private renewables developers by backing a payment security mechanism,” according to Scroll . For instance, the Solar Energy Corporation of India , the country’s largest solar power purchases, was included in an agreement last year between the Central government, the Reserve Bank of India and the state government. This safeguards it against payment defaults — which is important, as power distribution compares are reportedly notorious for delayed payment to renewable energy producers. Overaggressive bidding is also resulting in a decline in prices, according to The Independent. An auction for a 500-megawatt solar facility, for example, resulted in a tariff of just 2.44 rupees compared to a wholesale price charged by a major coal power utility of 3.2 rupees. That’s a 31 percent difference. Related: Chile’s solar price hits record global low – at half the price of coal “For the first time solar is cheaper than coal in India and the implications this has for transforming global energy markets is profound,” said Buckley. “Measures taken by the Indian Government to improve energy efficiency coupled with ambitious renewable energy targets and the plummeting cost of solar has had an impact on existing as well as proposed coal -fired power plants, rendering an increasing number as financially unviable.” What India is witnessing, says the analyst, is a further indication of the “rise of stranded assets across the Indian power generation sector.” He added, “The caliber of the global financial institutions who are bidding into India’s solar power infrastructure tenders is a strong endorsement of India’s leadership in this energy transformation and will have significant ripple effects into other transforming markets, as is already seen in the UAE, South Africa, Australia, Chile, and Mexico.” In 2017, India’s solar-generation capacity is expected to reach 8.8 gigawatts – a 76 percent increase from 2016. According to renewable energy consultancy Bridge To India, that will make the country the third-largest solar market in the world. Via The Independent Images via Pixabay

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India cancels plans for coal power stations as solar prices hit record low

Once the World’s Largest Solar Panel Manufacturer, Suntech Goes into Bankruptcy in China

March 22, 2013 by  
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Formerly the world’s largest manufacturer of solar panels , Suntech was pushed into bankruptcy yesterday after defaulting on $541 million in bond payments. The company was a powerful force in China’s renewable energy market; generating 2.4 gigawatts worth of solar modules in 2011 alone, Suntech employs around 10,000 people. But the company has faced a rapid decline as solar panel production in China increased tenfold over the past five years, causing prices to drop by as much as 75 percent. And that’s a small piece of a global problem in the industry—while year-on-year solar demand continues to grow , production capacity has far outstripped that demand, putting Suntech in the company of Solyndra , German Solar Millennium , and a number of other solar manufacturers in Europe and the US have been forced to cut back production, file for bankruptcy protection or shut down altogether. Read the rest of Once the World’s Largest Solar Panel Manufacturer, Suntech Goes into Bankruptcy in China Permalink | Add to del.icio.us | digg Post tags: chinese solar , energy subsidies , german solar , renewable energy , solar bankruptcy , solar industry , Solar market , solar millenium , solar panel , Solar Power , solar tariffs , solyndra , suntech

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Once the World’s Largest Solar Panel Manufacturer, Suntech Goes into Bankruptcy in China

Australian Solar Power Production Expected to Reach 10 GW by 2017

March 14, 2013 by  
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Australia is surging ahead on photovoltaic installations and is projected to hit a whopping 10,000 MW of solar power capacity in a few years. A new report by market analysts Sunwiz and Solar Business Services forecasts that the Australian photovoltaic market, which is currently at 2.5 GW, will likely grow to between 6 GW and 10 GW by as early as 2017. The report suggests that the owner-occupied, single-family residential market will soon be saturated with photovoltaic installations, so the solar industry will have to target more challenging sectors like the multi-family residential and commercial sectors. Read the rest of Australian Solar Power Production Expected to Reach 10 GW by 2017 Permalink | Add to del.icio.us | digg Post tags: 10gw solar production , australia solar power , australia’s commercial solar market , australia’s multifamily residential solar market , australia’s renewable energy target , australia’s residential solar market , australia’s solar market free from incentives , growth of australia’s solar industry , photovoltaic installations in australia

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Australian Solar Power Production Expected to Reach 10 GW by 2017

How India’s creating the next big solar market

April 29, 2012 by  
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India’s ambitious national solar policies have dramatically cut solar prices and boosted installed capacity. Here's what we can learn about unleashing the potential of clean energy.

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How India’s creating the next big solar market

Solar Manufacturer Solyndra Files for Bankruptcy

August 31, 2011 by  
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Solar startup Solyndra has just shut down, announcing their intention to file for Chapter 11 bankruptcy and immediately let go of most of their 1000 employees. The news comes as a considerable shock, particularly considering how, just two years ago , Solyndra was the talk of the solar world. Not only did the company successfully secure a $535 million loan guarantee from the government, but they opened a massive $700 million dollar plant in Fremont, California. Solyndra blames the failure on the unpredictable market and oversupply that kept solar prices low, but the financial realities of the company, and its unusual solar electric tube technology adopted in the industry, are sure come under scrutiny. The news is also sure to refresh the political discourse surrounding green jobs. Read the rest of Solar Manufacturer Solyndra Files for Bankruptcy Permalink | Add to del.icio.us | digg Post tags: government solar support , green jobs , Political fallout form solydra , solar company fails , solar electricity manufacturer , solar loan , Solar market , Solydra bankrupcy , Solydra chapter 11 , solyndra , solyndra bankruptcy , solyndra chapter 11 , Solyndra fails , Solyndra solar

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Solar Manufacturer Solyndra Files for Bankruptcy

Ford, SunPower Want to Plug Homes, Electric Cars into Solar Energy

August 10, 2011 by  
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  Ford Motor Co. and home solar panel company SunPower have formed a partnership to grow the solar market alongside electric vehicles.

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Ford, SunPower Want to Plug Homes, Electric Cars into Solar Energy

China Will Push Smart Meter Installs 1B by 2020

August 10, 2011 by  
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China’s aggressive efforts to modernize its electric grid has dramatically increased Pike’s latest smart meter forecast.

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China Will Push Smart Meter Installs 1B by 2020

Australians Will Be Able to Earn $10,000 a Year Supplying Grid From Rooftop Solar

January 6, 2010 by  
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The New South Wales government has just introduced a Solar Bonus Scheme that could have residents earning as much as $10,000 a year to send clean electricity to the grid from solar panels on their own roofs. The incentive is a Feed-in Tariff like the one that was so popular in Germany that they ran out of solar panels last year, and that shook up the global solar market when Spain introduced theirs a few years ago, because they paid enough so that average homeowners could earn money from adding solar panels on their roofs.

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Australians Will Be Able to Earn $10,000 a Year Supplying Grid From Rooftop Solar

CIA (Yes, the Spies) to Coordinate with Climate Scientists

January 6, 2010 by  
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Well, they have done it before, but were stopped by the Bush administration in 2001. The Central Intelligence Agency (CIA) has its own satellites and state-of-the-art sensors that it is going to start sharing with climate scientists again, in order to unlock some climate change and environmental mysteries

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CIA (Yes, the Spies) to Coordinate with Climate Scientists

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