Complete dependence on fossil fuel, which is a very volatile segment, can leave a country vulnerable to price fluctuations and geopolitical disputes. This is turn has a huge impact on the country’s economy as well. A prime example of which, can be seen with the current Ukraine- Russia crisis’s impact on the European countries rise in gas prices and subsequent economic turbulence.

Soltec has developed a floating PV tracker with pumps in the central tank for mobility and ballast, enabling operation in wind gusts above 100 km/h.

Renewable capacity addition is expected to remain at around 15-17 GW annually, owing to significant reduction in the module prices over the past 12 months and availability of liquidity.

India has already seen several success stories where innovative financing has empowered MSMEs in the renewable energy sector. For instance, the Indian Renewable Energy Development Agency (IREDA) has launched schemes specifically designed for MSMEs. These schemes offer concessional loans and financial assistance, making it easier for MSMEs to undertake renewable energy projects.

An additional 120 GW of C&I RE capacity is required to be set up by 2030 for India to attain its solar and wind target of 420 GW by 2030. This translates to US$89 billion worth of investments flowing into the sector between 2024 and 2030.

Lower polysilicon and wafer prices are providing some relief to solar cell and module producers, although the entire supply chain is grappling with excess capacity and intense price competition. 

FutureVoltaics says it has developed pre-assembled, reflector-based vertical rooftop PV systems. The systems feature 175 W heterojunction bifacial solar modules and special reflectors on both sides.

Hydrogen hubs, which are organised areas where production and utilisation facilities are closely linked, can make green hydrogen projects more viable. This cluster-based approach addresses the technical, logistical, and commercial challenges of long-distance hydrogen transport, enhances project viability, and allows for economies of scale and concentrated infrastructure.

Innovative financing mechanisms, such as credit guarantees and first-loss coverage, are essential to funding MSMEs’ adoption of renewable energy.

The U.S. International Trade Commission unanimously voted that solar cell manufacturing in Cambodia, Malaysia, Thailand, and Vietnam, supported by local incentives, is harming U.S. industry. This decision paves the way for the Commerce Department to finalize its determinations on countervailing duties by July 18 and anti-dumping duties by October 1.