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Solar panel prices may reach $0.10/Watt by end of 2024? Come and check the Weekly Hot News for this week.

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If you are interested in the photovoltaic industry, you can follow the News section of our website. We will regularly collect global current affairs news in the industry and share it with you.

Hot 1: New Study Claims: Photovoltaic Power Generation is More Effective than Afforestation in Tackling Climate Change

The darkening of land surfaces causes global warming, and to address this, scientists in Israel have calculated the time required for photovoltaic stations and afforestation projects to offset this warming effect. The results suggest that in arid regions, the carbon reduction efficiency of photovoltaic fields may be more than 50 times greater than that of tree planting.

Concerning the impact of photovoltaic facilities on surface temperatures, scholars conducted research in a photovoltaic power station located in an ultra-arid area adjacent to kibbutz Ketura in the Arava Valley of Israel. Covering 75,600 square meters and with an installed capacity of 4.9 MW, the scholars compared the results obtained with background measurements from the same area.

According to their measurements, the sensible heat of the photovoltaic station was 359 W per square meter. In comparison, the background measurement of the area surrounding the station was 199 W per square meter, with albedos of 0.2 and 0.37, respectively. Calculations indicate that each square meter of the photovoltaic station reduces carbon emissions by 14.9 kg per year.

Regarding the impact of afforestation on heat levels, scientists conducted measurements in the Yatir forest at the northern edge of the Negev desert in Israel. Spanning 2800 hectares, the forest is primarily composed of Jerusalem pine trees. Scientists compared data collected from this forest with that from the desert background.

In this case, the measurements showed that the sensible heat in the afforestation area was 522 W per square meter, compared to 225 W per square meter in the background area. The albedo of the forested land was 0.12, while that of the desert was 0.27. According to calculations, the carbon sequestration rate per square meter in this forest, due to photosynthesis, is 0.15 kg per year.

“The research results indicate that in arid regions, the carbon reduction efficiency of photovoltaic stations is more than 50 times that of tree planting,” the researchers said. They also noted that in arid regions, photovoltaic stations require approximately 1.4 to 3.6 years to reach a break-even point, while tree planting would need 94 to 175 years to achieve the same.

https://mp.weixin.qq.com/s/Rtv9-JbMecISVZQttXTRrA

Hot 2: Solar Panel Prices May Reach $0.10/Watt by End of 2024

Tim Buckley, director of the Australian think tank Climate Energy Finance (CEF), says that by the end of 2024 or 2025, solar panel prices could approach a critical point of $0.10 per watt.

Buckley told Photovoltaic Magazine, “Three years ago, Dr. Martin Green predicted that the price of photovoltaic electricity would reach $0.10 per watt by 2030, but this timeline will be significantly advanced.” He added that his estimate is based on an expected annual increase in photovoltaic capacity to 600 GW to 1 TW by the end of this decade. “I am very optimistic about the global solar installation capacity growth trend in the coming years. Russia’s invasion of Ukraine reminds us of the need to ensure supply chain and energy security, especially for countries reliant on imported energy.”

Buckley also pointed out that Chinese President Xi Jinping and U.S. President Joe Biden may sign a new climate agreement, formally calling for a doubling of global renewable energy capacity by 2030.

“In today’s context of soaring capital investment costs, the opportunity to invest in deflationary solar energy will be a huge boon to the world, easing the cost of living pressures and improving energy security,” he said.

Buckley noted that due to the global photovoltaic industry’s announcement of a significant increase in capacity, price pressures will rise. However, he questioned the latest forecast by the International Energy Agency (IEA) in the “World Energy Outlook 2023,” which states that global solar cumulative installed capacity could reach 2 TW by 2025.

He added, “The IEA believes that China’s new plants will only operate 35% of the time, which I think is a ludicrous assumption. This additional capacity has been grid-connected for a full year, and I expect the IEA’s annual global solar installation figures are underestimated by more than 50%.”

Buckley estimates that solar panel prices will drop by 40% this year.

https://mp.weixin.qq.com/s/wtnCf_25hdJGjAMOsz9Ahg

Hot 3: Completion of the “World’s Largest Photovoltaic Power Station”

Recently, the world’s largest single solar power station project, the Al Dhafra PV2 Solar Power Station, contracted by China Machinery Engineering Corporation, has been fully completed.

Located in Abu Dhabi, the Al Dhafra PV2 Solar Power Station project in the United Arab Emirates is one of the world’s largest single photovoltaic power stations. It is also a milestone engineering project under China’s “Belt and Road” initiative in the field of green energy.

Covering an area of 20 square kilometers with an installed capacity of 2.1 gigawatts, the project utilizes world-leading photovoltaic power generation technology. It is equipped with nearly 4 million photovoltaic panels, 300,000 pile foundations, 30,000 sets of tracking brackets, over 2,000 cleaning robots, 8,000 string inverters, 180 box-type transformers, and more than 15,000 kilometers of cables. The performance and power generation efficiency of the power station are world-class. As of mid-November 2023, the project has cumulatively contributed 3.6 billion kilowatt-hours of clean electricity to the UAE.

Once operational, the power station will supply electricity to 200,000 households, helping Abu Dhabi reduce carbon emissions by 2.4 million tons annually. This will increase the proportion of clean energy in the UAE’s total energy structure to over 13%, contributing to the sustainable development of the UAE’s national energy economy.

https://mp.weixin.qq.com/s/jUOJmBWWnPysBGacrV7Neg

Hot 4: Serbia’s Domi Eko Company’s 150 MW TOPCon Solar Panel Factory Begins Trial Operation

Domi Eko solar, Serbia’s first solar panel manufacturer, has commenced operations at its 150 MW TOPCon module manufacturing factory. The equipment supplier for Domi Eko solar, Ecoprogetti, headquartered in Italy, revealed this development.

Located in Velika Plana, central Serbia, the factory is equipped with a semi-automated production line. Reportedly, this production line can assemble and test up to 25 panels per hour.

Domi Eko Solar produces TOPCon modules at this facility, with output powers ranging from 430W to 550W. These TOPCon modules include 120 or 144 half-cut M10 TOPCon cells.

Further details about the module technology and the factory were not disclosed. Currently, Serbia supports solar development through an auction mechanism. A draft plan by the government mentions that the country aims to achieve an installed photovoltaic capacity of 8.3 GW by 2024. According to data from the International Renewable Energy Agency (IRENA), Serbia’s photovoltaic installed capacity was 137 MW at the end of 2022.

https://mp.weixin.qq.com/s/LwftetiQMTMMZoZEUWGfOA

Hot 5: Australia’s Investment Plan Targets 32 GW Renewable Energy Goal

Australian Energy Minister Chris Bowen has announced that the federal government’s capacity investment plan will significantly expand, aiming to achieve a renewable energy generation and storage capacity of 32 GW to support the country’s clean energy transition.

The Australian Federal Government announced major reforms to the Capacity Investment Scheme (CIS) to accelerate the development of renewable energy generation and storage capacity, increasing the share of renewable energy in the national energy mix to 82% by 2030.

The CIS was signed in December 2022 by the Australian Federal, State, and Territory governments, with the initial goal of fostering investment in 6 GW of “dispatchable” clean power projects. Now, this target is being increased to 9 GW of storage capacity and 23 GW of variable renewable energy generation, bringing the total national capacity to 32 GW.

In a statement, Bowen said: “This investment will increase the available power in the grid. As the grid evolves, this will provide Australians with a long-term reliable, affordable, and low-emission energy system.”

https://mp.weixin.qq.com/s/YgWgACN8FXur-tSf68TdsA

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Debby Cao

Hey, I’m Debby Cao, the founder of SolarCtrl.com.
An environmentalist and also an expert of solar energy industry.
In the past 14 years, our solar products are used in over 60 countries and areas. We are passionate about promoting sustainable energy practices and reducing the carbon footprint all over the world.

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