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Solar Energy

Steady market confidence as prices drop across categories

December 4, 2024 ryansheehanrts

The PV Purchasing Managers’ Index (PMI) remains a cornerstone for understanding market sentiment and demand trends in the European solar industry. This metric, derived from the purchasing intentions of over 20,000 registered users on the sun.store platform, serves as a valuable barometer of the industry’s health and future direction. With consistent participation from a diverse network of buyers—spanning installers, distributors, and many others—the PV PMI captures the nuanced shifts in purchasing behavior across the continent.

Sustained demand in a challenging market

In November, the PMI held steady at 68, maintaining the same level as in October. While this stability suggests resilience in demand, it also reflects a market that is cautiously navigating seasonal transitions and broader economic uncertainties. Buyers appear to be adjusting their strategies as the year-end approaches, with 51% planning to increase their purchases, a slight uptick from 50% last month. Meanwhile, 35% intend to maintain their current buying levels, and only 14% anticipate reducing their orders.

sun.store

The Purchase Managers‘ Index in November 2024 was stable.

This balance indicates that the European solar market continues to demonstrate robust confidence, even in the face of declining prices. The steady PMI underscores the ongoing commitment of buyers to secure high-quality components, leveraging favorable pricing trends to optimize their procurement strategies. As seasonal factors influence installation timelines and stock replenishment, the consistent PMI provides a reassuring signal that demand for solar solutions remains strong as the industry gears up for the coming year.

Filip Kierzkowski, Head of Partnerships & Trading, shared his perspective: “This steady PMI demonstrates the resilience of the European solar market, even as we enter the traditionally slower months. It’s encouraging to see consistent interest in high-quality components, despite external challenges.”

Development of PV panel prices since January 2024.

Key price trends for November: panels

Monofacial modules:

N-type: Prices fell by 7% to €0.091/Wp from €0.098/Wp in October. This decline reflects ongoing efforts by sellers to clear inventories ahead of year-end.

P-type: A more modest 2% drop brought prices to €0.088/Wp, down from €0.090/Wp, indicating relative stability in this category.

Bifacial modules:

N-type: Prices saw a significant 10% decline, reaching €0.093/Wp from €0.103/Wp, driven by intensified competition and surplus stock.

P-type: Insufficient sample size to establish trends for this category.

Full black modules:

Prices dropped by 9%, landing at €0.090/Wp, down from €0.099/Wp in October. The continued price decline highlights sustained oversupply and heightened competition among suppliers

Inverter pricing: mixed movements

Hybrid inverters showing both increases and decreases depending on capacity, while on-grid inverters generally experienced declines across the board.

Hybrid Inverters:

<15kW: Prices rose by 7% to €127.18/kW, up from €119.25/kW in October. This uptick reflects increased demand for advanced residential solutions, particularly premium brands like Huawei.

15+ kW: Prices fell by 7% to €84.32/kW, down from €90.69/kW. Larger systems faced slower demand due to a shift in buyer focus toward smaller, more flexible installations.

On-grid Inverters:

<15kW: Prices dropped by 8%, reaching €62.45/kW compared to €67.85/kW in October. This decline is attributed to weaker residential demand as seasonal factors take hold.

15+ kW: Prices dipped by 3% to €26.24/kW, down from €27.11/kW, signaling stabilized demand in larger-scale projects.

Also see: Europe must strengthen its production base for solar inverters

PV inverter prices showed a mixed picture.

Krzysztof Rejek, Head of Business Development at sun.store, offered insights into the trends: “The downward pricing trend persisted in November, with all segments hitting new lows—some module offers even nearing €0.05/Wp. Distributors continue their stock liquidation strategies, driven by end-of-year warehouse clearance efforts.“

Also see: Disappointing solar energy market leads to global shifts

„Looking ahead to December, we anticipate a slight uptick in prices due to China’s limited production capacity and a reduction in export tax rebates for modules. However, the availability of discounted stock from distressed distributors is likely to keep the overall average prices at competitive levels“, Krzysztof Rejek stresses.

Brand preferences: Jinko and Solis dominate

Jinko Solar continued to lead across all panel categories—maintaining its position as the top choice among sun.store users.
For inverters, Solis remained the preferred brand for systems under 15kW, while Huawei held its dominance in the 15+ kW category, reflecting their strong reputation for reliability and performance in larger installations.

In summary

The November pv.index paints a clear picture of a market marked by steady demand and competitive pricing. Panel prices continue to trend downward, while inverter categories present a mixed bag of price changes influenced by evolving buyer preferences and year-end dynamics.

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About – pv.index & The PV Purchasing Managers’ Index (PV PMI)

pv.index traces current trading prices for solar components on a monthly basis. Data is recorded on sun.store, a leading online PV trading platform with 7.8 GW+ of components on offer and more than 20,000 registered users. Trading prices are weighted by the power of components involved in the transactions to arrive at a reliable estimate for the whole market.

The PV Purchasing Managers’ Index (PV PMI) is a measure indicating the overall sentiment towards the demand in the PV industry. PV PMI shows whether demand is expected to expand (above 50), remain stable, or contract (below 50), as perceived by purchasing managers.

The PV PMI was calculated as: PMI = (P1 * 1) + (P2 * 0.5) + (P3 * 0), where: P1 = percentage of answers reporting an improvement, P2 = percentage of answers reporting no change, P3 = percentage of answers reporting a deterioration. Survey is based on a sample of 800+ sun.store buyers. (hcn)

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Solar Energy

Norwegian Glint Solar closes $8 million Series A funding round

December 3, 2024 ryansheehanrts

Founded in 2020 by Harald Olderheim, Even Kvelland and John Modin, the Norwegian startup Glint Solar aims to accelerate the adoption of solar power through its SaaS platform, which enables solar developers to evaluate and pre-design sites in a matter of minutes.

The company promises that with the platform solar solar developers could triple their project pipeline and evaluate project sites 10 times faster than traditional methods. It blends adaptable layout designs and yield estimates with country-specific GIS data and topographic analysis. The user-friendly collaboration hub would give teams full oversight and control over essential project data, the company claims. 3D-rendered project layouts created in seconds would allow users to slash land negotiation times and powerfully communicate projects to stakeholders.

Rapid growth since its $3 million Seed round in 2022

Gustav Alberius, Chief Strategy Officer at Turn Energy, a customer of Glint Solar, said: “The Glint Solar software has significantly boosted our development processes by having a centralised platform where we can evaluate buildability, permit conditions and yield as early as in the origination process. It has effectively allowed us to triple our project pipeline and reduce development costs. We’re very excited to follow Glint Solar’s continued innovations in the solar software space.”

Also see: Efficient obstruction detection for solar project planning using AI

Glint Solar has experienced rapid growth since its $3 million Seed round in 2022, with its customer base more than tripling in the last 12 months. The software is used by small to large solar developers and energy companies in more than 35 countries globally, including Recurrent Energy, Statkraft and E.ON.

Also interesting: Inion Software sees major growth in renewable energy projects in 2024

This latest investment will be used to expand both into new markets and the overall product offering, serving both existing and new solar developers. To support this, the company will grow its sales and product development teams, aiming to more than double its current headcount of 30 over the next 12 months. The product will grow into a wider platform to solve key challenges for developers, including a battery energy storage systems (BESS) feature to help project developers identify where to develop energy storage units.

Speed up the global solar adoption

Harald Olderheim, CEO and Co-founder of Glint Solar, said: “To counteract the effects of climate change, renewable energy needs to be adopted at a faster pace. The UN IPCC report says that 70-85% of the world’s electricity must come from renewable sources by 2050 to avoid the worst impacts of a warming planet. Luckily, utility-scale solar is quickly becoming the most cost-efficient form of energy one can build – in Texas, for example, it has overtaken coal as the most important energy source. The remaining factor is to also make solar energy development time efficient. Software is at the heart of the solution and this investment allows us to continue to push the boundaries of making complex, fragmented data and insights easily accessible, directly impacting the speed of global solar adoption.” (hcn)

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Solar Energy

Solar system in Austria protects berries and allows citizen participation

December 3, 2024 ryansheehanrts

It is a project that farmer Johann Deix planned carefully. He started producing raspberries and blackberries in 2018. However, the berries don’t like it hot or wet. At the same time, he learned from a study by Wageningen University in the Netherlands that the fruit can tolerate up to 40 per cent shade without complaint.

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The Dutch scientists also found that the fruit grows more slowly when there is more shade. This is an advantage for the farmer. He can extend his harvest by allowing some of the berries to grow in the sun and others in the shade.

Harvest season extended

These arguments persuaded Johann Deix to cover part of his plantation with semi-transparent solar modules with 35 per cent shading. The other parts have remained under the previous foil tunnels. This allows him to extend the harvest season and enjoy other benefits of the agri-PV system.

The solar modules protect the berries from heavy rain, hail and overheating. The system also requires less work than the foil tunnels, which have to be replaced regularly. ‘It also gets really hot in the 1,800 metres of foil tunnel in summer,’ explains Johann Deix. This is not good for the raspberries, nor for the farmer and his employees.

Solar power for self-consumption

The solar system also supplies a lot of electricity, which the farmer can consume directly on site. This is because the farmer needs around 120,000 kilowatt hours of electricity every year to cool the harvested berries. The new solar system with its 499 kilowatts of power will supply around four and a half times as much electricity.

Dual use of land: Download our Special Edition on agri-PV

The farmer shares the rest of the electricity with his neighbours. Matthias Zawichowski, manager of the climate and energy model region (KEM) Elsbeere Wienerwald, supported Johann Deix with the project development and is organising a local renewable energy community around the plant.

New financing idea

The farmer also took an unusual approach to financing. He gave anyone who wanted to the opportunity to participate. The citizen participation runs via so-called ‘solar building blocks’. This means that for a one-off payment of 360 euros, supporters receive a total of 36 bottles of raspberry Prosecco and six kilograms of raspberries over three years. ‘As well as a clear conscience,’ emphasises Matthias Zawichowski. The system is also subsidised via a market premium in accordance with the Austrian Renewable Energy Expansion Act.

Also interesting: Let the show begin! Sonnenkraft installs PV on listed theatre in Austria

Solar openings at Energy Decentral

You will also find solutions like this at this year’s Energy Decentral. Photovoltaics will take centre stage at the trade fair dedicated to the decentralised supply of renewable energy to farms. As part of the solar offensive spotlight, farmers and suppliers of solar systems and storage units will come into direct contact with each other. Find out more about the solar offensive here. (su/mfo)

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Solar Energy

Disappointing solar energy market leads to global shifts

December 3, 2024 ryansheehanrts

“Actually, things are going badly all over the world,” says Gerard Scheper. “Only in the US, Australia and China things are still going quite well.”

With consumer demand still very low, market recovery seems a long way off. A phenomenon that plays out worldwide with a few exceptions. “Very little is still happening in the private market and the pipeline for 2025 is still virtually empty for many companies,” says Scheper.

Low margins – storage market a cycle path

“On top of that, the margins on the products sold are also low. When the market emerged, there were still gross margins of 25 percent with low sales. After sales went up, that margin dropped towards 15 percent. Now companies are on margins of 10 to 15 percent and nothing is being sold. Although the sale of home batteries can compensate somewhat, they are still not the volumes in which solar panels were sold until recently.”

Also see: “A company cannot be on hold for a year”

The business market is a completely different story. “That works out quite well. The market is at about 80 percent of what it was until recently. Here, too, more and more projects with energy storage of up to 100 kilowatt hours are being built. Especially for farmers and SMEs, who already have solar panels on their roofs, an investment in battery storage is extremely lucrative. Until recently, the solar market was a really busy, big highway. The energy storage market is just a cycle path,” says Scheper.

New players are entering the market

“Energy storage is much more complicated in terms of certification, bank guarantees, grid connection and software. Connecting the software to the grid is also more complicated because it can differ per country what this looks like. In the Netherlands, for example, this is very different from Belgium and Germany. On top of that, you don’t always have to deal with the most flexible parties. That also makes it interesting, because it is not at all certain that the brands that are now big in the battery market will soon dominate the market. Whole new players are entering the market.”

For the free WOS storage report, register here: https://theworldofsolar.com /free-market-outlook-report

The fact that the solar energy market is not moving fast is a global phenomenon. After energy prices have dropped back to their old level, the increased demand for solar panels does not appear to be permanent. “Only in the US, Australia and China things are still going quite well. In the US, solar panel producers can get three times more for their panels than in Europe. As a result, they still earn more in the US – despite the import tariffs – than in Europe,” says Scheper.

Changes in the Chinese domestic market

“This is leading to Chinese solar panel manufacturers moving their European teams en masse to these areas. Chinese manufacturers who previously focused only on foreign markets are now also focusing on their own domestic market. Some of them have had a domestic office and a sales team for one or two years, they do have a chance. Or they enter into a partnership with another party that has been active there for a while.”

Also see: Central & Eastern Europe: Utility-scale storage market set to increase fivefold by 2030

But according to Scheper, something else is changing in the Chinese market. “Producers of polysilicon and wafers are taking matters into their own hands and are now also producing and selling solar panels. They have a stable overcapacity of 50 percent and think they can earn more if they also make the end product themselves. In this way, they do not have to scale down their production of polysilicon and wafers.”

Reduced tax benefit on Chinese module exports

Finally, it is the top Tier 1 manufacturers who have put their stock on sale for some areas at even lower prices. “In this way, they want to create liquidity and then they just leave that area. Dutch companies in the solar energy sector will therefore have to ask for clarity from their Chinese suppliers: How important is Europe to you and what will that be like in the next quarter?”

Also see: General price decline continues amid steady demand in the European solar market

Last Friday it was announced that the Chinese government has intervened and reduced a tax benefit on the export of solar panels by 4%. This means that all panels shipped from China after 1-12 will become 4% more expensive. The rumors are that the Chinese government may also reverse the remaining 9% tax benefit and that could mean that the price will be driven up by 13% in a short time. (GS/hcn)

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Solar Energy

What happened in Baku: Why the deals at COP29 are the best possible outcome

November 29, 2024 ryansheehanrts

And in no small part thanks to Azerbaijan’s chairmanship. Which in itself is peculiar as Azerbaijan was hauled over hot coals in the run up to the event, for allegedly not being able to fulfill its role of “honest broker” (being a “petrostate”).

And yet, the deal that Azerbaijan brokered includes a tripling of the finance deal for developing countries (last negotiated at COP21 in Paris), from $100 billion to $300 billion for climate change loss and damage mitigation. The funding is part of a financial package adding up to $1.3 trillion in “blended finance” by 2035. As COP29 President Mukhtar Babayev says in the article for the Guardian describing the final days of the negotiations, that financial deal would have been more generous, had Western countries backed the $500 billion proposed by China.

New deal on carbon market trading

There is more. In addition to the money paid into the Loss and Damage Fund, COP29 also sealed a new deal on carbon market trading, pursuant to Article 6 of the Paris Agreement. As UNFCCC states “after nearly a decade of work, countries have agreed on… making country-to-country trading and a carbon crediting mechanism fully operational.” And adds, “This is good news for developing countries, who will benefit from new flows of finance, and it is particularly good news for least developed countries, who will get the capacity-building support they need to get a foothold in the market.”

Also see: Multilateral development banks to reinforce climate finance

The COP29 Presidency also launched an initiative on peace, relief and recovery (Baku Call) which will tackle the nexus between climate change and armed conflict, focusing on water scarcity, food insecurity, land degradation and human displacement. While UNFCCC hailed progress on transparency stating that, “Transparent climate reporting made big strides forward in Baku… with Parties expressing their appreciation for the timely completion of the Enhanced Transparency Framework (ETF) reporting tools.”

On adaptation there were a number of outcomes. The COP29 decision relating to the least developed countries (LDCs) establishes a support programme for the implementation of National Adaptation Plans. And in addition to a High-Level Dialogue on National Adaptation Plans, the Baku Workplan elevated the voices of Indigenous Peoples and local communities in climate action.

Widening participation in climate action

There were also gender and climate change initiatives, recognising that women are hit disproportionately hard by the climate crisis. These initiatives extended the Lima Work Programme on Gender and Climate Change for another 10 years. Finally, a number of initiatives were aimed at widening participation in climate action. These are Action for Climate Empowerment (ACE), the Youth-led Climate Forum and increased visibility for High-Level Climate Champions.

So, was COP29 a success? According to UNFCCC figures there were 55,000 people in attendance, making it the second largest COP, after Dubai in 2023. So certainly in that sense it hasn’t failed. But, the real question is whether has delivered on its promise to provide effective means of combating climate change.

Also see: IRENA is calling for ambitious NDC updates

To answer this question let us try a counterfactual approach. Let’s assume that the Parties rejected the offer of $300 billion and no progress was made on carbon trading. Would have that enabled a better deal in Belem at COP30? I think not. Actually, had the Parties rejected the deal in Baku, there would have been nothing on the table in Belem.

Counterweight to climate deniers

In January 2025 climate change denier Donald Trump will enter the White House. Trump has already appointed the fracking magnate Chris Wright as energy secretary. According to media reports, Wright has dismissed the idea of a global energy transition, asserting that “there is no climate crisis”. Such developments are emboldening climate change deniers such as President Milei of Argentina, who denounced climate change as a “socialist lie” (Argentian delegation withdrew from COP29).

Also see: Trump’s re-election brings significant challenges for climate protection

In addition, in February Germany goes to the polls. Significantly, the early elections were triggered by Chancellor Scholz’ proposals to close a €10 billion gap in the 2025 budget, by cutting, amongst other items, climate protection measures. Close to Germany, debt-to-GDP ratios in France and Italy remain perilously high, putting any decision on climate funding in jeopardy.

To sum up, the deal in Baku was the best possible deal in the circumstances. This might not be the most popular point of view, but certainly reason has prevailed. Azerbaijan as the COP29 Presidency has done a good job of marshalling the deal through. Had the deal not happened this year, there would have been very little chance of any deal next year. Anyone who thinks that climate change is indeed the greatest societal challenge of our times, should welcome the outcome of COP29 as broadly positive. (GS/hcn)

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Solar Energy

SolarPower Europe – Europe must strengthen its production base for solar inverters

November 27, 2024 ryansheehanrts

After their quarterly meeting, the SolarPower Europe Board of Directors’ quarterly meeting – which was exceptionally held at the SMA headquarters in Kassel, Germany – released the following statement.

“Inverter manufacturing has historically been Europe’s strongest link in the solar supply chain. As recently as 2023, the continent hosted more than 80 GW of inverter manufacturing, primarily focused (86%) in string inverters which are particularly well suited for rooftop PV systems in residential and small-scale commercial applications.

Also see: “A company cannot be on hold for a year”

We acknowledge the important role for the path of the energy transition by inverter-based energy supply and the crucial role for the system stability and sovereignty.

However, the industry now faces difficulties due to global manufacturing overcapacity and a slowdown in the rooftop PV segment in several important European markets.

Call for a Important Project of Common European Interest

Inverters are the brains of the energy system, connecting solar output to grids, batteries and other clean energy technologies, which become only more important as Europe electrifies and digitalises its energy systems. Europe can simply not afford to lose this critical industry and must act now.

Also see: European inverter industry under pressure – IPCEI initiative

As a structural solution, we call on European policymakers in Brussels and Member States to consider a dedicated Important Project of Common European Interest (IPCEI) on smart and secure electrification, to better leverage public funding and guarantee EU’s leadership in the critical communication components of the future energy systems, like solar inverters.

Enforcing highest standards and financial support mechanisms

But more immediate measures are needed as well. We ask European policymakers to develop an action plan for the EU inverter industry, exploring all options on the table, including; enforcing the highest standards on cyber- and energy security, and providing direct financial support mechanisms to enhance its competitiveness on a global scale, while ensuring a level playing field.

Also see: European solar manufacturing should be a priority

The electrification and digitalisation wave are an opportunity for Europe’s inverters to seize the innovation edge, wield next-generation grid-forming ability, and establish a competitive global market share.

Right now, Europe can take up this opportunity to entrench its world-leading spot in inverters that go the extra mile – supporting the grid and securing cyber-preparedness. However, with inaction, Europe risks not only the inverter industry – and tens of thousands of jobs – but the secure electrified transition itself.” (hcn)

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Solar Energy

First renewable hydrogen auction on the Iberian market started

November 25, 2024 ryansheehanrts

The process started middle of November with the publication of the documentation on the public MIBGAS website for those interested in participating in this open auction.

The auction is aimed at all companies interested in acquiring renewable hydrogen, both nationally and internationally, without restrictions on the type of application for the hydrogen. Different lots will be offered depending on the volume of supply and the duration of the contract, starting from a base price for each lot.

The first phase is the pre-qualification phase. The next phase will be the qualification stage, and subsequently, there will be another phase solely for the qualified companies to submit their bids. This final phase will be competitive. As a result, the companies that present the best offers and are selected, along with DH2 Energy, will negotiate the final agreements bilaterally, which may lead to the corresponding contracts.

49 MW PV plant with 35 MW electrolysis capacity

Participants will be able to submit bids to purchase the renewable hydrogen generated by DH2’s Hysencia plant. The plant is in Aragón and construction is expected to begin in mid-2025, with operations anticipated to commence in the first half of 2027.

Also see: DH2 Energy receives environmental permit for green hydrogen plant

The Hysencia plant, with an electrolysis capacity of 35 MW, 49 MW of photovoltaic power and 10 MW of grid connection is a pioneering initiative that was a winner in the first European auction, funded by the Innovation Fund under the umbrella of the EU Hydrogen Bank. Hysencia, which obtained integrated environmental approval this year, is one of the first commercial green hydrogen projects on the Iberian Peninsula. The renewable hydrogen produced by Hysencia will help decarbonise the industrial and mobility sectors.

Stimulate an emerging market

The chairman of MIBGAS, Raúl Yunta, is hopeful that projects like these will stimulate an emerging market essential for the decarbonisation process and energy transition. “At MIBGAS we are convinced of the potential that green hydrogen has, and projects like Hysencia are crucial to start laying the foundations for a renewable hydrogen market. We are delighted to help drive decarbonisation by developing the green hydrogen market”.

Also see: Partnership for large-scale electrolysis in Europe

For his part, the managing director of DH2 Energy, Marcos López-Brea Baquero, stated: “For the first time, the operator behind the Iberian market is launching an auction for renewable hydrogen, and it does so with the production from DH2 Energy’s Hysencia plant, which will serve as a benchmark in the sector. This auction marks a milestone for the development of renewable hydrogen, and we are confident that it will help stimulate demand and advance the establishment of a stable market for renewable hydrogen”. (hcn)

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Solar Energy

Eastern Europe – Moldova pushes investment in renewables – first tender launched

November 21, 2024 ryansheehanrts

The country, which covers an area of 33,843 square kilometers, is about the same size as Belgium and has a population of less than three million. It used to be heavily dependent on Russian energy imports, especially gas and electricity from the pro-Russian separatist region of Transnistria.

In order to make itself less dependent on Russia, the country is focusing on making its energy supply as renewable as possible and promoting the efficient use of energy, emphasized Carolina Novak, Secretary of State in the Moldovan Ministry of Energy recently at CISOLAR 2024 in Bucharest. The government is trying to encourage appropriate investments through targeted incentives.

The first renewable auction for PV and wind was recently launched. Successful investors receive fixed price guarantees for the electricity generated for a period of 15 years. The tendering phase runs until March 31, 2025.

First tender for 60 MW PV and 105 MW wind

The first tranche includes 60 MW of photovoltaics and 105 MW of wind power. The capacity limit for solar parks is 1 MW and for wind parks 4 MW. The ceiling prices for wind power is 77.88 €/MWh and for solar 86.7 €/MWh. The guaranteed fixed price will be determined through the auction procedure, but cannot exceed the ceiling price. Operational power plants can participate in tender, if the equipment is not older than 36 months from the commissioning date of the power plant. Also, large producers of renewable energy that win the auction will receive prioritized grid connection permits. The National Agency for Energy Regulation (ANRE) is the competent authority for the tenders.

Also see: Central and Eastern Europe increasingly in the solar gigawatt class

“Through this auction, we aim to offer local and international companies the opportunity to invest in the Republic of Moldova,” said Minister of Energy Victor Parlicov. Private investment of €190 million is expected, along with an increase of almost 8% in the share of renewables in the national electricity mix, one year after the plants that have been awarded contracts go into operation. At the end of 2023, renewables accounted for 10.5% of national electricity consumption. In 2030, renewables are expected to contribute 30% to the national electricity mix and 27% to final energy consumption.

Solar potential of over 4.5 GW – promotion of energy efficiency

According to the International Renewable Agency (IRENA), Moldova had 87 MW of cumulative installed solar capacity by the end of 2023, up from 60 MW in 2022. Moldova has significant renewable energy potential, with estimates of 20,868 MW for wind energy, 4,648 MW for solar energy, 840 MW for hydro energy, and 850 MW for biomass.

Also interesting: Commercial Risk Guarantee Fund can secure doubling of 10 GW RES in Ukraine

Moldova aims to reduce its greenhouse gas emissions by 68.6 percent (compared to 1990 levels) by 2030 according to the National Energy and Climate Plan (NECP). To achieve this, the government is focusing not only on investment incentives for renewable energies but also on energy efficiency. Primary energy consumption is to be limited to under 3,000 kilotons of oil equivalent (ktoe) and final energy consumption to under 2,800 ktoe.

Ministry of Energy of the Republic of Moldova

The State Secretary of the Ministry of Energy, Carolina Novac, talking at the scientific conference “Energy, Efficiency, Ecology and Education”, organized by the Association of Installation Engineers of the Republic of Moldova (AIIRM) in October 2024.

Secretary of State Novac, also stresses on the importance of the Energy Efficiency Fund in the residential sector, which foresees that in the next three years, about 507 thousand square meters of housing, of which about 75% residential buildings and 25% individual houses, will undergo renovations that will bring energy savings of up to 40%.

Also interesting: Montenegro on the road to more solar PV

“It is very important for us as a country, not having fossil energy sources, to reduce energy consumption as much as possible, and residential consumption accounts for 49 percent of the total energy consumed in Moldova. Energy efficiency measures are aimed at reducing our dependence on these resources that we import, we are committed to launching some programs and to give a boost to the national economy, to attract as many people as possible in this sector,” State Secrectry of the Moldovan Ministry of Energy, Novac says.

Whole package of measures for the energy transition

Further measures to establish a climate-neutral and secure energy supply in Moldova include incentives for battery storage, pumped storage, biogas and energy generation from waste to stabilize the grid and for dark, cloudy days, the promotion of energy sharing and energy communities, and grid expansion and digitization.

Also see: Central & Eastern Europe – Utility-scale storage market set to increase fivefold by 2030

The country is counting on closer integration with the EU, which was recently enshrined in the constitution by popular vote. Moldova also intends to join the International Solar Energy Alliance (ISA), which brings together 98 countries committed to expanding solar energy projects. (hcn)

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Solar Energy

ReBuild Ukraine – Commercial Risk Guarantee Fund can secure doubling of 10 GW RES in Ukraine

November 19, 2024 ryansheehanrts

After the large-scale war started by Russia since 2022 against Ukraine, more than a thousand attacks at energy infrastructure led to the total loss of available capacity of over 9 GW, half of which was restored; more than 18 GW of generation capacities are occupied.

Ukraine needs substantial quantities of new generating capacities, and thus it requires significant investments. Due to the cost competitiveness, safety, and speed of the construction, renewable energy is a solution. This was the topic described at the panel Renewable energy as an integral part of Ukraine’s energy system security and economic strength during the conference ReBuild Ukraine, on November 13-14, in Warsaw, moderated by Oleksandra Gumeniuk from European Energy.

The latest investments in RES in the conditions of war

Olga Yeriomina, Associate Director, Senior Banker, Energy Europe, EBRD, informed the audience about the latest deals in the energy sector, among others aimed at loan and equity financing RES during the war. Since the start of the war, the Bank has invested around €5 billion in Ukraine, with circa €2 billion directed towards the energy projects. In the course of 2024, EBRD lended €60 million for its first private biofuels investment in wartime Ukraine and formed a renewable energy joint venture with the GOLDBECK SOLAR Group for Ukraine that targets development of up to 500 MWp of solar PV projects. The Bank has also mobilized new de-risking and risk-sharing tools from the European Union and other development organizations for over €600 million and more new announcements to come.

We are open for new investments in the renewable energy sector in Ukraine; the regulatory framework is improving, and reforms are aligned with the EU requirements progressing; however, there is still a problem of project bankability, specifically the offtake agreements, uncertainty of the revenue streams, and electricity market volatility, stressed out Olga Yeriomina.

The concept of the Commercial Risk Guarantee Fund

Following the point of the bankability challenges, Oleksandr Melnyk, Board Member, European-Ukrainian Energy Agency (EUEA) and Partner at GOLAW, presented the Commercial Risks Guarantee Fund concept, which was initiated by the EUEA and the Ukrainian Wind Energy Association.

To be established by the international financial organizations Commercial Risks Guarantee Fund will secure private RES companies from fluctuations on the electricity market by guaranteeing a minimum price for electricity, explained Oleksandr Melnyk. „We support the concept of Fund, as it can be a key driver for future investment viability, aiming to increase the resilience of the Ukrainian energy system and accelerate the deployment of renewable energy projects in Ukraine“, added a EBRD representative.

Successful cases of the private sector

OKKO Group’s €20 million investment in Battery Energy Storage Systems and the acquisition of a 150 MW wind project in Volyn underscore private sector engagement.
KNESS, a leader in BESS development, shared its success in winning TSO Ukrenergo’s ancillary service auctions for 79 MW and emphasized the transformative potential of BESS as a key instrument for developing new business models beyond ancillary service, contributing to the creation of Ukraine’s new energy system.

Also see: Partnership for more solar and battery storage in the Ukraine

While sectoral associations like the Solar Energy Association of Ukraine contribute to the development of RES instruments as the active consumer model, solar power plants for self-consumption, and corporate PPAs, renewable initiatives are bolstered by international cooperation, like Deloitte’s Future of Ukraine Program, which emphasizes partnerships and knowledge sharing.

NedZero, the wind energy association of the Netherlands, emphasizes partnership and knowledge sharing. With this in mind, the organization will sign a memorandum of understanding with the Ukrainian Wind Energy Association later this month during the Offshore Energy Exhibition and Conference in Amsterdam. NedZero is also aiming at setting up a consortium of Dutch companies with the purpose of implementing concrete wind energy projects in Ukraine, pointed out Bert van der Lingen, Vice Chairman, NedZero.

Also see: Backup solar power for Ukrainian hospitals

During two days of the whole Energy Conference at ReBuild Ukraine, prominent speakers from the Government of Lithuania reiterated the necessity of energy independence, supporting Ukraine’s aim for resilience. The UK, Poland, and Norway government representatives stressed renewables as essential for security, and the European Commission detailed ongoing efforts to de-risk investments through structured dialogues with financial sectors.

27% RES target by 2030

DFC’s political risk insurance, IFC support, as well as the Energy Community’s Energy Support Fund are making an incredible contribution to the energy sector recovery and development, which is crucial taking into account the clearly established 27% RES target by 2030 to double the current 10 GW of capacity within five years in Ukraine under the National Energy and Climate Plan.

In closing, panelists reaffirmed that renewable energy is not only crucial for a sustainable future but also integral to Ukraine’s national security and resilience. Immediate support and innovative investments are essential for rebuilding Ukraine’s energy landscape with advanced, clean technologies. (hcn)

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Solar Energy

Czechia: Investors want to take legal action against planned retroactive cuts to subsidies for PV plants

November 14, 2024 ryansheehanrts

In October, Czech Finance Minister Zbyněk Stanjura presented the state budget for the coming year and thus earned criticism because the budget proposal contains billions in gaps. The finance minister wants to close these gaps by, among other things, drastically cutting operating subsidies for thousands of renewable energy plants.

Concrete proposals for the corresponding amendments to the Energy Act were presented by Stanjura and Minister of Industry and Trade Lukáš Vlček. The subsidies for renewable energies are to be cut by almost 23 billion CZK (about 898 million EUR) compared to the previous year. The changes would affect all subsidized energy sources that went online by 2012.

“For weeks, we have been pointing out to politicians and officials that further cuts to existing feed-in tariffs would threaten thousands of operators, including international investors, as well as small and medium-sized enterprises and households,” comments Jan Krčmář, managing director of the Czech Solar Association.

Fatal signal for investments

”The Czech Republic is already lagging far behind countries such as Germany and Austria, but also Poland and Romania, in terms of the expansion of new renewable energies. Further destabilization of the sector and of domestic and foreign investors would significantly hinder the urgently needed expansion of new projects,” explains Krčmář.

Also see: Central & Eastern Europe: Utility-scale storage market set to increase fivefold by 2030

”Retroactive cuts to funding that has already been approved endanger existing energy generation plants, and they also send the fatal signal that legal guarantees can be changed at the snap of a finger. Who would take the risk of investing in the Czech Republic when they can invest in more stable countries like Poland or Romania today?”

See also: Czech takes steps for more solar

The Czech parliament is expected to vote on the government’s plans in November. “We hope that the MPs will take into account the substantive arguments we have put forward and not put the Czech Republic on a path that will lead it far away from the planned climate targets,” explains Krčmář.

Measures violate Czech and European law

Investors from neighboring Germany, Austria and Switzerland have already reacted to the government’s draft and threatened to initiate international arbitration proceedings for breach of the Czech Republic’s obligations. It would not be the first court case of this magnitude. Earlier this year, the Czech Republic lost an arbitration case regarding the solar tax and was ordered to pay damages.

Also see: “Excluding PV from Czech renewables auctions an expensive mistake”

This decision will serve as a guide for foreign investors in future disputes. The planned cuts would affect all PV systems built before 2012 and would result in significant revenue losses for thousands of small energy producers, including households, cities, schools and farmers. (hcn)

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