This prognosis builds on strong figures from the start of 2019, which according to the International Energy Association (IEA<\/a>) showed the amount of solar PV capacity installed worldwide exceeding half a terawatt (500 GW) for the first time[3]<\/a>.<\/p>\n Demonstrating solar\u2019s rapid growth, the IEA calculated that countries needed to register a PV growth of at least 1.3 GW to earn a place in the top 10 expanding markets \u2013 a new high-water mark. \u00a0Meanwhile, the number of countries with at least 1 GW of installed solar capacity hit a record high of 32. APAC soars among global pacesetters<\/strong><\/p>\n Half of the top 10 countries for solar growth in 2019 lie within the Asia-Pacific (APAC) region, solidifying its place at the heart of the PV market.\u00a0 Anchal Agarwal, analyst at GlobalData, noted that APAC countries together share 58.1% of global solar PV capacity and 70.8% of new installations \u2013 a trend set to continue into the future.<\/p>\n \u201cAPAC is expected to remain the largest market during the forecast period 2019 to 2030 due to an increase in capacity installations,\u201d<\/em> she says.\u00a0 \u201cThis will be led by countries such as China, India and Japan.\u201d<\/em>[4]<\/a><\/p>\n Indeed, China continues to remain at the forefront of the solar surge, reaching 204 GW of installed solar power in 2019, a rise of 30 GW on the previous year.[5]<\/a>\u00a0 Pre-pandemic, China was targeting anywhere between 210 GW and 270 GW of PV capacity by the end of 2020 \u2013 and that is just the start of its grand vision.\u00a0 \u201cDuring 2019 to 2030, the country is set to have the largest capacity additions each year with more than 25 GW planned to be added annually,\u201d<\/em> explains Agarwal.\u00a0 \u201cAbout a third of global capacity addition in this period is set to be from China installations.\u201d<\/em> [6]<\/a><\/p>\n Flying the flag for clean energy investments in the Middle East, 2019 saw a new multi-billion solar scheme financed in Dubai, UAE.<\/p>\n The US$ 4.2 billion 950 MW Mohammed bin Rashid Al Maktoum IV project is a deal regarded by BNEF as \u201ca strong signal of the appetite for solar electricity on the part of both Middle Eastern countries and international financiers.\u201d<\/em> [7]<\/a>\u00a0 Mohammed bin Rashid Al Maktoum IV will feature the world\u2019s tallest 260-metre solar tower, and also the largest global thermal storage capacity, at 15 hours.[8]<\/a><\/p>\n Showing the sector\u2019s resilience in the face of the pandemic, in April this year the deal was \u00a0signed a 25-year deal for the project\u2019s 900 MW fifth phase.<\/p>\n In South America, the Brazilian Photovoltaic Solar Energy Association (ABSOLAR<\/a>) had anticipated private investments in solar industry exceeding R$ 19.7 billion (US$ 4.275 billion) this year, creating more than 120,000 new jobs[9]<\/a>.\u00a0 At least 4 GW of new capacity was set to be installed throughout Brazil in 2020, either via large-scale power plants or distributed roof\/ground-mounted systems. \u201cThis will practically double the current installed capacity in the country, currently at 4.4 GW,\u201d<\/em> reported the Global Solar Council<\/a>.<\/p>\n In light of coronavirus, however, some reappraisal might be necessary,\u00a0 With over 20,000 deaths at time of writing, the Brazilian government\u00a0 has reportedly postponed its national energy generation and clean energy auctions (together comprising some 51 GW) until further notice.[10]<\/a> \u00a0Industry watchers will be following developments here closely.<\/p>\n In America, the Solar Energy Industries Association (SEIA<\/a>) describes the market as \u201cbooming\u201d<\/em>, estimating almost 13 GW of new PV capacity in 2019 split between home, non-residential and utility-scale PV installations[11]<\/a>. \u00a0It credits the extension of the USA\u2019s Investment Tax Credit (ITC) with the industry\u2019s steady growth, noting that some 242,000 Americans now work in solar power, generating approximately US$ 17 billion for the country\u2019s economy.<\/p>\n Across the Atlantic, there is similar excitement about solar energy reaching new milestones in Europe. \u00a0SolarPower Europe\u2019s first EU Market Outlook report shows 16.7 GW of new PV installations in 2019 \u2013 a 104% increase over 2018\u2019s 8.2 GW [12]<\/a>. \u00a0More new solar capacity was installed than any other power generation technology. [13]<\/a><\/p>\n Spain leads the charge, adding 4.7 GW, followed by Germany (4 GW), the Netherlands (2.5 GW) and France (1.1 GW).\u00a0 By the year end, EU states accounted for 131.0 GW of solar power, 14% higher than the previous year\u2019s 115.2 GW. \u00a0Michael Schmela, Executive Advisor and Head of Market Intelligence at SolarPower Europe, speaking before the pandemic, said: \u00a0\u201cIn terms of medium-term projections, we expect continued growth for the EU-bloc with a 26% increase in 2020 bringing demand to 21 GW, and installations on track to reach 21.9 GW in 2021<\/em>.\u201d<\/p>\n Certainly, appetite for solar power<\/a> across Europe showed little sign of waning, pre-virus. \u00a0In July, Portugal\u2019s huge 1,150 MW auction of solar energy licenses set a new world record, with one of the 24 licenses selling for \u20ac14.76 per megawatt hour[14]<\/a>. \u00a0And in October, France celebrated the inauguration of the continent\u2019s most powerful floating solar PV plant, the Omega1 project in Piolenc. \u00a0The 17 MW installation should save the equivalent of 1,096 tons of CO\u2082 emissions annually.[15]<\/a><\/p>\n Despite the challenges, there is evidence to suggest that many solar projects currently in development around the world will avoid falling victim to pandemic panic.\u00a0 In April this year, the N\u00fa\u00f1ez de Balboa solar plant in Spain, described as the largest of its kind in Europe, defied the virus by entering operation on schedule. \u00a0The 500 MW plant, set to supply clean energy for approximately 250,000 people a year, is operated by Spanish utility company Iberdrola, which still plans a further 2,000 MW of new solar projects across Spain between now and 2022.<\/p>\n Elsewhere in Europe, governments are stretching auction and tender deadlines to help developers adjust to new extended timeframes. \u00a0Authorities would rather see projects delayed than abandoned, it seems. \u00a0In France, for instance, solar tenders have been delayed by an average of two months.\u00a0 Likewise, Ireland extended the cut-off for its Renewable Electricity Support Scheme (RESS) from the beginning to the end of April.\u00a0 Portugal, meanwhile, is keeping a watching brief on the virus and has temporarily put on hold its planned solar auctions totaling 700 MW. \u00a0The licensing auction might now take place in June \u2013 if the outbreak starts to slow by then.<\/p>\n As 2019 got under way, solar PV\u2019s share of global electricity generation crossed the 2% threshold for the first time.[16]<\/a> \u00a0Yet, under the IEA\u2019s Sustainable Development Scenario, by 2040 solar power should be meeting almost one-fifth<\/em> of the world\u2019s energy requirements.[17]<\/a><\/p>\n Such a trajectory means massive growth within the industry, and this in turn requires technological improvements across the board.<\/p>\n In its 2019 Tracking Power report on solar energy, the IEA identified several innovations still needed to unleash solar power\u2019s full potential[18]<\/a>:<\/p>\n Much of this technology remains \u2018in the pipeline\u2019 \u2013 but wise investments now could help increase energy access globally, particularly in developing countries.<\/p>\n One problem so far hindering the adoption of renewable energy has been consistency of supply. \u00a0What to do when the wind isn\u2019t blowing or, in this case, the sun isn\u2019t shining?<\/p>\n Crucially, the solar industry is primed for a battery-based revolution in the coming years and decades.<\/p>\n BNEF foresees global energy storage installations swelling from 9 GW (2018) to 1,095 GW by 2040 \u2013 a 122-fold increase requiring US$ 622 billion of investment, spurred by a sharp decline in the cost of lithium-ion batteries.[19]<\/a><\/p>\n Most of this new capacity will be utility-scale and will enable \u2018energy shifting\u2019 \u2013 in other words, coordinating the release of energy to the grid from times of excess generation to times of peak use. \u00a0<\/p>\n While South Korea leads the energy storage market as of 2019, by 2040 China and America are tipped to dominate.<\/p>\n Abdul Latif Jameel Energy<\/a> is one of the key players driving global battery innovation via renewable energy specialists Fotowatio Renewable Ventures (FRV<\/a>), which is pioneering the use of utility-scale energy storage systems through its innovation and tech focused division, FRV-X.<\/p>\n Progress is rapid.\u00a0 In 2019 FRV announced its first utility-scale battery project, at Holes Bay UK, in collaboration with British developer Harmony Energy<\/a>[20]<\/a>.<\/p>\n The scheme comprises a lithium-ion battery array of 15 MWh capacity, connected to the Southern Electric Power<\/a> distribution network. \u00a0Commissioning is expected by mid-2020.<\/p>\n \u201cEnergy storage plays a central and critical role to fully realize the power of renewable energy,\u201d<\/em> says Felipe Hern\u00e1ndez<\/a>, Managing Director FRV-X. \u00a0\u201cFRV acknowledges the value of this technology as a key element to achieve a decarbonized society.\u201d<\/em><\/p>\n Peter Kavanagh, CEO of Harmony Energy, said: \u201cIt\u2019s a critical time for battery energy storage in the UK and we are pleased to be at the forefront of development.\u00a0 We have over 500 MW of battery energy storage assets construction-ready and with the backing of FRV, we have also pre-qualified 300 MW of new battery energy storage systems into the UK\u2019s capacity market.\u201d<\/em><\/p>\n FRV\u2019s pioneering project in Chile<\/a>, meanwhile, further demonstrates the progress being made in the realms of battery storage.\u00a0 Its revolutionary 540 GW\/h hybrid wind-solar plant currently in development will use batteries to provide renewable power round-the-clock for 224,000 homes[21]<\/sup><\/a>. \u00a0<\/p>\n \u201cThis hybrid combination of solar and wind allows us to provide renewable energy 24\/7,\u201d <\/em>says Manuel Pavon<\/a>, FRV Managing Director for South America.\u00a0 \u201cDuring the day we provide solar power, and during the night, wind power. \u00a0The market is growing.<\/em><\/p>\n \u00a0<\/em>We expect it will continue increasing up to 1.5 gigawatts per year for the following five years. \u00a0So, it is a very interesting market for us.\u201d<\/em>[22]<\/a><\/p>\n In a region \u2013 Latin America \u2013 with a 70% green energy target by 2030, FRV\u2019s 540 GW\/h hybrid project represents a true game-changer, and a clue to the future of energy production worldwide[23]<\/a>.<\/p>\n \u201cCompanies and investors are more committed to a cleaner future than ever before, but governments still have the capacity to accelerate \u2013 or impede \u2013 that process,\u201d<\/em> noted BNEF in its sustainable energy projections for 2020[24]<\/a> \u2013 and that was before COVID-19 landed to further cloud the waters.\u00a0<\/p>\n It cited the forthcoming US presidential election in November 2020, as one example of a political variable holding \u2018major implications\u2019 for the speed of decarbonization globally.\u00a0 The USA is one of the world\u2019s leading energy generators and consumers, yet current president (and re-election candidate) Donald Trump has so far proved to be more of an advocate of traditional fossil fuels than renewables.<\/p>\n Similarly, the IEA warns that recent corporate tax reforms in the USA have increased uncertainty over the value of new solar projects, causing delays in commissioning as developers seek clarity on the price of PV modules after new tariffs[25]<\/a>.<\/p>\n Developing countries are equally vulnerable to the whims of policy, especially in the renewables sector.<\/p>\n China\u2019s slight 2018 solar slowdown (44 GW of new installations compared to 53 GW in 2017) was, according to the IEA, triggered by the government phasing out feed-in tariffs and introducing deployment quotas to control costs and tackle integration challenges[26]<\/a>.\u00a0 However, this is acknowledged as a short-term pain, long-term gain scenario, with those new policies expected to make the technology more cost-competitive in future.<\/p>\n Yet, even as evidence mounts of solar power\u2019s susceptibility to policy ebbs and flows, the industry maintains enormous momentum on a global scale.\u00a0 The global crisis unleashed by COVID-19 has thrust the issue of clean energy into the spotlight once more.<\/p>\n Unsurprisingly in these unprecedented times, reactionary voices are calling for energy security to take top priority. \u00a0Fossil fuels have been the mainstay of our energy generation for as long as anyone alive can remember. \u00a0As the economic and societal fightback begins against coronavirus, they argue it is these conservative choices that must be prioritized for the benefit of people right here, right now.<\/p>\n In other words, it becomes harder to worry about the future when the present is so harrowing.<\/p>\n And yet, global warming \u2013 until now just a symptom of living in an economically-vibrant world \u2013 must absorb some of the blame for the situation in which we now find ourselves.<\/p>\n Many scientists believe that by heating the environment at such a dramatic rate, humans have provided viruses with chances to evolve at rates unseen in history.[27]<\/a> \u00a0Climate change also shrinks animal populations, hindering the genetic diversity necessary to limit diseases.\u00a0 Depleted natural habitats, meanwhile, force animals into closer proximity with humans, increasing the risk of zoonotic transmission.<\/p>\n Far from taking our foot off the accelerator, now is surely the time to prioritize strategies that can limit climate change and help protect us all. \u00a0Renewable energies such as solar power are fundamental to this fight.<\/p>\n No country, culture or industry will prove immune from the impacts of the pandemic \u2013 and solar power is no different. \u00a0While the situation remains very much in flux, the IEA is already warning that the bountiful 2020 predicted for solar power might be, at least partially, derailed.<\/p>\n The IEA predicts three potential hindrances:<\/p>\n \u201cHow the situation affects renewables will depend on two key areas: the duration of confinement and social-distancing measures in different countries, and the scope and timing of economic stimulus packages in response to the economic downturn,\u201d says the IEA in its report on the pandemic.[28]<\/a><\/p>\n<\/blockquote>\n China, the first epicenter of the epidemic, manufactures some 70% of the world\u2019s solar panels.\u00a0 Although supply was interrupted by the lockdown, production is accelerating once more at time of writing as restrictions gradually ease.<\/p>\n To help safeguard the solar industry, the IEA is making three recommendations to governments worldwide:<\/p>\n On a hopeful note, the IEA concludes that while small solar projects might prove prone to delays, large projects with grander budgets are likely to have relative immunity.\u00a0 This is because \u201cdevelopers with strong cash positions may be able to handle these construction delays or additional costs they incur in the short and medium term.\u201d<\/em><\/p>\n So, while the pandemic\u2019s effects will differ on a project-by-project basis, it seems likely that many of the schemes predicted to have the biggest impact on solar power\u2019s energy share will still proceed, albeit with slightly adjusted timelines.<\/p>\n In addition to its groundbreaking 540 GW\/h hybrid plant in Chile, Abdul Latif Jameel Energy continues to strive to realize solar\u2019s vast potential for both society and the planet by expanding its portfolio of green energy projects around the world.<\/p>\n In August 2019, FRV\u2019s 67.8 MW Goonumbla Solar Farm in New South Wales, Australia.\u00a0 The plant connects to the national grid and produces approximately 195,000 MWh of clean energy per year, enough to supply more than 45,000 Australian households and save around 140,000 tons of CO2<\/sub> annually. \u00a0Despite coronavirus, the Goonumbla Solar Farm came online and started delivering its first power in May this year.<\/p>\n![\"Evolution](\"https:\/\/www.alj.com\/app\/uploads\/2020\/06\/Solar-prospects-1.jpg.png\")
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<\/p>\nTechnology helps solar blaze new trails<\/h2>\n
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Policy support still pivotal<\/h2>\n
Right interventions will help industry navigate pandemic<\/h2>\n
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FRV seizing hot opportunities<\/h2>\n
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