7 July 2017 2017 09:45 AM GMT

Solar Power Exceeds Wind Installations; Can Surpass 80GW In 2017, 1TW In 2021

SolarPower Europe has launched the ‘Global Market Outlook for Solar Power 2017-2021.‘ The report confirms that 2016 was another record year for solar, with global annual solar additions growing by 50% with 76.6 GW installed. There is now a total worldwide solar power generation capacity of 306.5 GW.

Christian Westermeier, President of SolarPower Europe, stated: “Never before have we seen more solar power being installed in a single year than in 2016. For the first time, solar left behind its renewable energy peer, wind, in terms of annual installations. This proves the versatility and increasing cost-effectiveness of solar power.”

James Watson, CEO of SolarPower Europe commented: “When looking at solar, the cost reductions experienced and predicted outstrip all other power generation technologies. Today, utility-scale solar is already cheaper than new gas, coal and nuclear power plants.

” SolarPower Europe foresees that solar will continue its growth in 2017. “Despite the gigantic leap that resulted in the more than 50% growth year on year of annual solar installations in 2016, there is a good chance that the market could even pass the 80 GW mark in 2017,” said Watson.

The quickly decreasing cost of solar continues to improve its competitiveness and is a major driver for solar’s global success story. All solar tenders awarded since 2016 are lower than the price guarantee the UK government signed for the Hinkley Point C nuclear power plant last year. A new world-record low 25-year solar power supply contract was awarded in Abu Dhabi in 2016 for 24.4 USD/MWh (2.4 US cents/kWh). This is reflected in this year’s report being more optimistic on solar growth than previous editions.

“If policy makers get things right by addressing the needs for a smooth energy transition, such as through establishing the right trade policy, electricity market design and renewable energy frameworks, solar demand could increase much faster, and touch nearly 1 TW of total generation capacity in 2021,” said Michael Schmela, Executive Advisor at SolarPower Europe and lead author of the Global Market Outlook.

SolarPower Europe is a member-led association representing organisations active along the whole value chain. Our aim is to shape the regulatory environment and enhance business opportunities for solar power in Europe. The Global Market Outlook is the flagship publication of SolarPower Europe. Produced in-house by SolarPower Europe’s market intelligence team and with the support of its members, the report provides forecasts on solar market developments and trends for the coming 5 years. This year, SolarPower Europe has started a cooperation with the Global Solar Council and Intersolar Europe for this report.

September 17th 2018
MHI Vestas Signs Firm Order for Largest MW Project in Company History

MHI Vestas Offshore Wind will supply 90 of its flagship V164-9.5 MW turbines for the 860 MW Triton Knoll Offshore Wind Farm project; its largest MW project to date. MHI Vestas celebrated the financial close of the deal with innogy, at the site, confirming the project as the largest (MW) in the history of the turbine company. Affirming its strengthening position in the UK offshore wind market, the Danish-Japanese joint venture will supply 90 of the world’s most powerful commercially available turbine, the V164-9.5 MW, and has agreed on a comprehensive 5-year O&M agreement.

September 16th 2018
Ingeteam Develops New Optimal Offshore Power Conversion Architecture

Ingeteam, an independent global supplier of electrical conversion and turbine control equipment, has announced that a recent in-house R&D study allowed them to work out the optimal electrical power conversion designs for offshore wind turbines up to 15 MW. The research, taking into account the complex set of parameters at play in LCoE, enabled it to develop a Medium Voltage Power Converter reaching up to the 15 MW power range. Ingeteam claims that its new design is the ideal solution for scaling up offshore turbine platforms and will present its converter and the associated research at the Global Wind Summit in Hamburg next month.

September 10th 2018
Ørsted Announces Plans For Offshore Wind Farm To Power 1 Million UK Homes

Ørsted, the largest energy company in Denmark has recently unveiled its plans for a sustainable energy solution to power more than 1 million homes in the UK when completed. The company is one of many leading organisations speaking and presenting at the 17th annual Benelux Infrastructure Forum on 21–22 November in Amsterdam. This year’s 2-day conference is the biggest yet, hosting an international gathering of industry leaders from law firms, banks, investment asset and fund managers, energy companies, insurance companies, European Commission, and engineering consultancies.

August 27th 2018
Distributed Generation: A Lynchpin For The Small And Medium Scale Renewables

The global distributed generation market is expected to witness a CAGR of 15.5% and is projected to reach nearly US$ 500 billion by 2024. Factors such as high cost of utility tariffs, interruption of power supply, and losses incurred during transmission of electricity over long distances have shifted the interest towards distributed generation. Furthermore, financial incentives given by governments for construction of renewable distributed generation facilities is likely to give even greater impetus to the market. Here in its knowledge series, Clean Energy World focuses on Distributed Generation and signposts to available training for professionals.

August 18th 2018
IET’s Renewable Power Generation Conference Comes To Copenhagen

The Institution of Engineering and Technology’s popular Renewable Power Generation conference will be making its first visit to Denmark this year. The conference, now in its 7th iteration, will be hosted by the Center for Electric Power and Energy at DTU, which also manages the world-class experiment platform for research and development of renewables integration – PowerLabDK. Over 180 new research papers will be presented at the conference. Attendees will be able to find out the latest ideas and thinking around wind power plant modelling and control; wave and tidal energy; renewable energy forecasting; power conversion and grid interaction; Hybrid systems combining multiple energy sources; the impact of distributed generation and use of HVDC.

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