Solar PV Demand to Reach 31Gigawatts this Year
According to the new NPD Solarbuzz Marketbuzz 2013, Solar photovoltaic demand will rise by two gigawatts , from 29 GW to 31 GW during 2013. For the first time, China will overtake Germany to become the leading PV consumer, while the top 10 PV territories will still account for 83% of global PV demand. 2013 will represent another transition year, as the PV industry adapts to softness across legacy European markets. The Chinese end-market will broadly compensate for the downturn in demand from Germany, which previously led PV demand.
S. African Deal with Congo may Boost $80 Billion Hydro Plant
South Africa recently completed a deal to buy 2,500 megawatts of power from the first phase of the Inga power project, which is based on the Congo River. The pact is anticipated to enable Congo to secure the initial $10 billion in financing required. South Africa is trying to augment its electricity supply to help growth in the continent’s largest economy. The country was among suitors that included BHP Billiton Ltd., the world’s biggest mining company, who attempted but failed to develop a new plant on the Congo River.
Nuclear Fades in US as Wind Trounce Prices
As wind turbines added a record 13,124 megawatts to the nation’s power grid, additional financial pressure is placed on traditional generators such as Dominion Resources Inc. and Exelon Corp. in their operating regions. That’s because wind energy undercut power prices already driven to 10-year-lows by an ampleness of natural gas. The wind power boom has benefited consumers in regions where wind development is fastest, contributing to a 40 percent wholesale power-price plunge since 2008. Yet , the surplus is creating problems for nuclear power and coal generators that sell their output into short-term markets.
Japan Suggests Cutting Solar Tariff as Prices of Equipment Fall
Japan’s solar manufacturers would get 10 percent less for the power they feed to utilities under a recommendation a government panel made after taking into account the descent of the cost of panels. The cost of solar equipment has dropped so much that officials say incentives can be cut without squeezing development plans amid a push to diversify sources of energy after the nuclear meltdown in Fukushima. Even at the reduced rates, Japan’s support for solar is about three times the incentives offered in Germany and China. Japan’s introduction of a 42 yen solar tariff in July enticed panel makers. to begin building solar stations and encouraged new entrants to develop solar factories.