Wind energy and concentrated solar power have reduced their costs significantly, but it is photovoltaic that has reduced their costs dramatically thanks to China. Annual investments of more than 7 billion would see Latin America’s photovoltaic capacity increase from the current 7 gigawatts (GW) to more than 280 GW by mid-century, although Asia, North America and Europe continue to have the greatest capacity. The photovoltaic solar capacity will exceed 8,000 GW by 2050.
The Asian Development Bank (ADB) is hosting at its Manila headquarters the second in a series of partnership forums for a new professional network founded by the World Bank to promote more female practitioners in South Asia’s energy and power sector. The Women in Power Sector Professional Network in South Asia (WePOWER) aims to support participation of women in energy projects and institutions, as well as promote more women in science, technology, engineering, and mathematics (STEM) education.
Vietnam’s second-round solar feed-in tariff (FiT) could be cut short in favour of an auction model after the prime minister Nguyen Xuan Phuc issued an order highlighting shortcomings in the way the Ministry of Industry and Trade (MOIT) has handled the roll-out of solar power. The shock move, which still needs to be released in the form of regulations by the Ministry of Industry and Trade (MOIT) to come into fruition, would remove FiTs for future solar projects unless they have already signed a power purchase agreement (PPA) and can become operational in 2020, according to the document seen by PV Tech.
Bob Dudley, BP’s group chief executive, said in the company’s Statistical Review of World Energy Report 2019 that although renewable energy is growing far more rapidly than any other form of power, it still supplies only a third of the required increase in power generation – about the same amount as coal. Of that renewable energy, it’s often sources such as solar power that generate the most headlines. But the truth is that hydroelectricity is the world’s largest form of renewable power, contributing to 15.9 per cent of global electricity – more than the combined contribution of all other forms of renewable energy.
The government must provide more incentives and loans to encourage households to adopt solar energy generation, according to experts. Decharut Sukkumnoed, lecturer on economics at Kasetsart University's Faculty of Agricultural and Resource Economics, said the growth in solar-powered households would be much greater if the state offered better financial incentives - including higher prices for households that sell electricity back to the power grid, and loans for installation of panels at home.
If solar arrays can withstand conditions in a country that is hit by an average of 20 typhoons per year, the technology can survive less treacherous conditions in other countries, said Dr Thomas Reindl, deputy chief executive of the Solar Energy Research Institute of Singapore...“The Philippines’ competitive advantage would be to come up with a solution that would work with strong winds and is, at the same time, cost-effective,” he said.
The Ministry of Industry and Trade (MoIT) said in its latest report on the implementation of power projects in the revised Power Development Plan VII (PDP7), that 47 of the 62 approved plants are behind schedule to various degrees, going from a few months to as long as five years. Delays in many electricity projects threaten the south of Vietnam with power shortages from as soon as next year.
Southeast Asian nations are stepping up plans to invest in and deploy solar power as the cost has dropped below that for gas-fired power plants, according to analysts and government officials. The region, where power demand is expected to double by 2040, is striving to expand the share of renewable sources as developing nations seek affordable electricity while battling climate change.