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Canadian Solar’s Q1 Profits Dip 85% on Lower Module Demand and Prices

SMA Solar Net Income Plunges 44.8% YoY in Q1 2024 on Increased Costs


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					</table><p><a href="https://www.mercomindia.com/solar-auctions-surge-721-tenders-increase-q2-2023" target="_blank" rel="noopener"><strong>Solar tenders floated by various agencies in India rose 5% quarter-over-quarter (QoQ) to over 14 GW in the second quarter of 2023, according to Mercom India Research.</strong></a> Tender announcements were up 59% year-over-year (YoY). The quarter saw a 722% QoQ increase in solar auctions, with almost 7 GW of solar projects auctioned. The capacity auctioned increased by 63% compared to the same period last year.</p>
<p><a href="https://www.mercomindia.com/andhra-pradesh-amendments-rpo-compliance-regulations" target="_blank" rel="noopener"><strong>The purchase of renewable energy by captive open access consumers from distribution companies in Andhra Pradesh will be counted toward the fulfillment of their renewable power purchase</strong></a> obligation, according to draft regulations issued by the Andhra Pradesh Electricity Regulatory Commission. The regulator issued draft amendments to the Renewable Power Purchase Obligation Compliance by Purchase of Renewable Energy/ Renewable Energy Certificates Regulations, 2022.</p>
<p><a href="https://www.mercomindia.com/draft-roadmap-india-green-hydrogen-ecosystem" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy has unveiled a draft roadmap outlining the research and development priorities for manufacturing and storing green hydrogen.</strong></a> The roadmap aims to promote efficient, safe, and cost-effective hydrogen storage, paving the way for its widespread adoption as a clean energy source. The key objectives include developing advanced storage methods, ensuring the durability and reliability of storage systems, and addressing safety concerns.</p>
<p><a href="https://www.mercomindia.com/first-solar-1-billion-revolving-credit-facility" target="_blank" rel="noopener"><strong>U.S.-based solar modules manufacturer First Solar has secured a five-year revolving credit and guarantee facility worth $1 billion. The facility includes up to $250 million for issuing letters of credit.</strong></a> The revolving credit facility is expected to provide the company with the necessary financial leeway and flexibility while balancing its ability to grow in response to the demand for its technology.</p>
<p><a href="https://www.mercomindia.com/germanys-191-mw-rooftop-auction-oversubscribed" target="_blank" rel="noopener"><strong>Germany’s auction for the installation of 191 MW of rooftop solar projects has been oversubscribed by 79%, according to the data released by the federal network agency Bundesnetzagentur.</strong></a> The auction received a total of 155 bids with a volume of 342 MW. A total of 79 bids with a volume of 193 MW were accepted. The bids quoted in the auction ranged from €0.088 (~$0.096)/kWh to €0.108 (~$0.0117)/kWh and were below the ceiling tariff of €0.113 (~$0.123)/kWh. The volume-weighted average bid value was €0.102 (~$0.111)/kWh.</p>
<p><a href="https://www.mercomindia.com/un-body-urges-clean-energy-for-developing-countries" target="_blank" rel="noopener"><strong>The United Nations Conference on Trade and Development (UNCTAD) has issued an appeal for immediate assistance to developing nations, enabling them to attract substantially more investment</strong></a> for their transition towards clean energy. The recently published “World Investment Report 2023” by UNCTAD reveals that the majority of international investment in renewable energy, which has nearly tripled since the adoption of the Paris Agreement in 2015, has been focused on developed countries.</p>
<p><a href="https://www.mercomindia.com/floating-solar-viable-option-southeast-asia" target="_blank" rel="noopener"><strong>Floating solar could play a crucial role in the Association of Southeast Asian Nations’ regional target of 35% renewable energy in the installed power capacity by 2025, according to a report</strong></a> published by National Renewable Energy Laboratory. The report identified 7,301 water bodies —88 reservoirs and 7,213 natural water bodies — as potentially suitable for floating solar deployment in Southeast Asia. Overall, the floating solar potential ranges from 134–278 GW on reservoirs and 343–768 GW on natural water bodies.</p>
<p><a href="https://www.mercomindia.com/renewables-84-power-generated-brazil-1h-2023" target="_blank" rel="noopener"><strong>Renewable sources accounted for 83.64% of the 193.9 GW of power generated in Brazil between January and June this year, according to data released by the country’s National Electric Energy Agency</strong></a>. Brazil’s installed electricity generation capacity increased by 5.1 GW during the first half of 2023. With the growth in the deployment of clean energy sources, 83.55% of Brazil’s power matrix was renewables-based by the end of the year’s first half.</p>
<p><a href="https://www.mercomindia.com/researchers-achieve-over-30-efficiency-perovskite-solar-cells" target="_blank" rel="noopener"><strong>Researchers from King Abdullah University of Science and Technology, in a significant discovery, have claimed to surpass the efficiency milestone of 30% for tandem silicon-perovskite solar cells.</strong></a> Tandem solar cells consist of a top cell that absorbs high-energy photons and a bottom cell that captures low-energy photons. These cells are stacked together, with the top and bottom cells interconnected, allowing for efficient energy conversion. Monolithic integration of perovskite and silicon solar cells into a tandem device holds great promise for high-performance and cost-effective photovoltaics.</p>
<p><a href="https://www.mercomindia.com/us-to-invest-45-domestic-solar-manufacturing" target="_blank" rel="noopener"><strong>The U.S. Department of Energy has announced a $45 million investment, including $18 million from the Bipartisan Infrastructure Law, to bolster the pilot manufacturing of solar components</strong></a> that will contribute to the domestic manufacturing sector.  The initiative aims to support the government&#8217;s solar deployment goals without relying heavily on imported products while fostering the development of new dual-use solar technologies.</p>
<p><a href="https://www.mercomindia.com/scientists-use-new-lithium-to-boost-battery-stability" target="_blank" rel="noopener"><strong>In a new study, scientists at the Tokyo Institute of Technology used two lithium-based solid electrolyte chemical compositions to ensure stable ionic movement in millimeter-thick battery electrodes.</strong></a> Solid electrolytes are much stabler compared to liquid electrolytes. Argyrodite-type (Li6PS5CI) and Tetragonal Li 10 GeP 2 S 12, abbreviated as LGPS, are the two compositions used by Ryoji Kanno of the institute to increase the complexity of the superionic crystals.</p>


Daily News Wrap-Up: Solar Auctions Surge by a Record 721% QoQ

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