The International Energy Agency (IEA) Photovoltaic Power Systems Programme (PVPS) says in its latest report that 2023 was a record-breaking but tumultuous year for solar development. It says the manufacturing industry faces pressure from supply-demand imbalances, with overcapacity causing prices to collapse.

The International Energy Agency’s (IEA) latest report, which maps out the future evolution of clean energy manufacturing, says the combined global market for PV, wind turbines, electric cars, batteries, electrolyzers, and heat pumps will rise from $700 billion in 2023 to more than $2 trillion by 2035.

The South Korean battery maker expects strong demand momentum in the energy storage space (ESS) and plans to release a new high capacity lithium iron phosphate product with an energy density improved by 20%, alongside other products. To advance its local supply capabilities, the company plans to start ESS battery production in the US next year, and is considering converting European electric vehicle (EV) production lines to ESS.

The International Renewable Energy Agency’s (IRENA) latest report says that women’s roles in decentralized renewable energy are critical to achieving universal electricity access in underserved communities.

The Nepal Electricity Authority (NEA) has received proposals from 134 companies for a total of 3.6 GW. It says that 259 projects from 127 developers passed the technical bid evaluation and will be considered when financial proposals are opened on Oct. 22.

Using atomic layer deposition, a research team from the City University of Hong Kong has created an an oxygen-deficient tin oxide layer to replace the more common fullerene electron transport layer in perovskite solar cells. The result is a 25%-efficient device that is able to retain around 95% of its efficiency after 2,000 h.

Total corporate funding in the solar industry reached $22.3 billion in the first nine months of 2024, down 23% year on year. Mercom Capital Group says global uncertainties are affecting investor confidence, but an increase in debt financing and resilience in newly announced large-scale project funding are bright spots for the sector.

The International Renewable Energy Agency (IRENA) says the result represents a 12% year-on-year decline. The figure has fallen 90% since the start of 2010.

UK-based energy think tank Ember says it expects 593 GW of solar to be added throughout the world this year – 29% more than in 2023. It says 292 GW were installed by the end of July.

A research team from South Korea’s Ulsan National Institute of Science & Technology (UNIST) has designed a wire-free transparent solar cell and module with all electrical contacts placed on the rear side. A 16 cm² module achieved a power conversion efficiency of 14.7% and successfully charged a smartphone using natural sunlight.