According to JMK Research, India added about 12.2GW of new solar capacity in the first half of the year, which means that the new renewable energy capacity added in the first half of 2024 has exceeded the total new installed capacity in 2023.   The new solar capacity, combined with 1.9 GW of new wind power capacity, means India added more than 14 GW of new renewable energy capacity in the first half of this year. New solar capacity accounted for 44% of new renewable energy capacity and is the largest single contributor to the 195 GW of renewable energy capacity currently in operation in India.   Most of this growth came from large-scale ground-mounted power station projects, with India adding about 9.6 GW of large-scale ground-mounted power station capacity in the first half of this year. MK Research said that the temporary exemption of the approved list of components and manufacturers (ALMM), a means of encouraging developers to purchase and install more Indian-made solar products, enabled developers to import components from overseas in the first three months of this year. Looking at the single quarter, India added about 7.5GW of large-scale ground-mounted power station installed capacity in the first quarter of this year, with 5.3GW installed in March alone.   The sharp increase in new large-scale ground-mounted power stations contrasts with a 10% quarter-on-quarter drop in rooftop solar capacity in the first quarter of this year. But this situation may change in the coming months, as the Indian government's latest budget includes an investment of $8.9 billion in the deployment of new rooftop solar projects, and JMK Research also expects the industry to rebound.   The analyst pointed out that India aims to add more than 2GW of new rooftop solar capacity in the second half of this year, up from 1.8GW in the first half, but the country's reliance on large-scale ground-mounted power station projects is worth noting.   From the first half of 2023 to the first half of 2024, India's new solar capacity increased by 78.9%. During the same period, the country's wind power capacity increased by 2.3%, and if India is to achieve its clean energy goals, including installing 500GW of non-fossil fuel capacity by the end of this decade, then these trends must continue.

Israel's Ministry of Energy and Infrastructure has released a blueprint for achieving net-zero emissions in the energy sector by 2050, and it relies heavily on solar.   The plan foresees three scenarios for achieving this goal, depending on the development of underlying technologies and policies. In the first, solar energy becomes increasingly cheaper and more efficient. In the second, hydrogen technology matures. In the third, the country allows nuclear power plants to operate.   "According to our model, electricity demand is expected to grow to around 19.2 million tons of oil equivalent (toe) per year (about 220TWh) in 2050, more than three times the current electricity demand," the ministry said in a statement. "Due to the electrification of transportation and industry, electricity demand will grow faster and faster in the coming years. Total energy demand will also increase by 1.5 times by 2050."   Under the solar plan, which the document calls the "Yellow Vision," 64% of Israel's energy needs could be met by photovoltaic power plants by 2050. Under this vision, Israel's solar capacity would reach 108GW, with 70GW of four-hour energy storage capacity. The levelized cost of electricity (LCOE) would be $91.5/MWh.   “This scenario deploys a higher share of solar and assumes that technological developments in solar and storage will reduce the price of solar and increase its efficiency,” the ministry explained. “In addition, this scenario assumes the existence of a technological solution to integrate PV power into the grid and further promote other solutions, such as floating PV (FPV) and agrivoltaics.”   The second scenario, which the ministry calls the “blue solution,” assumes that carbon capture and storage (CCS) and natural gas-based hydrogen production account for 30% of energy, while PV accounts for 45% and imports account for 25%. In this case, power generation could be based on 56% PV, 38% hydrogen and 6% imports. This scenario could include 75GW of solar power plants, 34GW of four-hour storage and a levelized cost of electricity of $105.6/MWh. “This scenario would require significant infrastructure investment and would only be feasible if hydrogen production becomes more efficient and economical.”   The last, the “red scenario,” is premised on the introduction of nuclear power into Israel’s grid. In this scenario, solar could account for 55%, nuclear 19% and imports 26% out of all energy categories. Solar would account for 57% out of all energy sources, with hydrogen and nuclear each accounting for 19%. This scenario could require 80GW of solar power plants and 50GW of four-hour energy storage. In this scenario, the levelized cost of electricity is expected to be $96.50/MWh.   "The vision is based on the assumption that Israel has two large nuclear power plants and several small nuclear power plants in 2050," the ministry said. "The vision relies on the technological development of modular nuclear reactors, international policy guidelines and a deep public discourse space on the implementation of such technologies."   Israel is committed internationally to reducing greenhouse gas emissions by 85% by 2050. In addition, the ministry stressed that local councils need to promote a net zero emissions law. The blueprint will go through public hearings before the government adopts it.

Recently, according to foreign media reports, New Mexico Governor Michelle Lujan Grisham and Ebon Solar jointly announced that they will invest approximately US$942 million in New Mexico's solar energy industry. Ebon Solar plans to build an approximately 834,000 square foot solar cell manufacturing plant in the Mesa del Sol Industrial Development Zone in Albuquerque, New Mexico, creating more than 900 new jobs.   It is reported that Ebon Solar LLC (Ebon Solar) is a solar cell manufacturing company located in Delaware, USA, dedicated to innovation in the field of solar manufacturing.   It is worth mentioning that this is not the first solar photovoltaic investment plan attracted by the city of Albuquerque.   On August 10, 2023, Maxeon, a subsidiary of TCL Zhonghuan, announced that it had decided to choose Albuquerque, New Mexico, as its first photovoltaic manufacturing expansion site in the United States.   Maxeon plans to invest US$1 billion to build a world-class 3GW solar cell and module factory in Albuquerque, which will be used to design and produce the latest generation of TOPCon cells and the company's proprietary shingled photovoltaic cell modules to meet the rapidly growing demand for photovoltaic modules in the United States. According to Maxeon's original plan, the new plant is expected to start construction in the first quarter of 2024 and will start production in 2025. However, according to foreign media reports, the project has been postponed to the second half of this year. 

Recently, the Management Committee of Jiangsu Suqian Economic Development Zone issued an announcement, approving the environmental impact report of the solar cell encapsulation film project with an annual output of 100 million square meters (10GW).   It is reported that the project builder is Suqian Taijing New Materials Technology Co., Ltd., located in Suqian Economic and Technological Development Zone. The Suqian Economic Development Zone Management Committee stated in the announcement that according to the evaluation conclusion of the "Report Form", from an environmental protection perspective, the project is feasible to be built at the proposed location according to the construction content listed in the "Report Form"   Public information shows that Taijing New Materials' 10GW solar cell encapsulation film project plans to invest 600 million yuan and lease the idle factory building of Jiangsu Aocai Intelligent Technology Co., Ltd., with a total construction area of ​​24,000 square meters.   The project is divided into two phases. The first phase of the project will invest 350 million yuan to purchase 7 new high-speed EPE and POE production lines. The second phase of the project will invest 250 million yuan to purchase 5 new high-speed EPE and POE production lines. After completion, it will achieve an annual output of 100 million square meters (10GW) of solar cell encapsulation film.  

ArcelorMittal Brazil has announced that it has signed contracts to develop two solar projects with a total capacity of 465 megawatts (MW). The projects are in line with the company's goal to reduce carbon emissions from future electricity demand. The first contract is with Casa dos Ventos, Brazil's leading renewable energy project developer and producer, to build a 200MW power plant in the northeastern state of Bahia. ArcelorMittal will own a 55% stake in the joint venture, with the remainder held by Casa dos Ventos. The plant is expected to be operational by the end of next year. Last year, ArcelorMittal signed an agreement with Casa dos Ventos to develop a wind project. The second contract is with Atlas Renewable Energy, the second largest independent renewable energy developer in Latin America. The agreement will develop a 265 MW solar project in the eastern Brazilian state of Minas Gerais, initially in a 50:50 joint venture, with ArcelorMittal acquiring 100% of the shares in the solar park. The project is expected to be put into operation by the end of 2025. Both projects are subject to approval by Brazil's antitrust authorities.

German PV module and energy storage solutions company AXITEC has launched a 300MW module manufacturing plant in Tiruvallur, Tamil Nadu, India.   The plant is designed to produce both DCR and non-DCR PV modules using N-type TopCon technology. AXITEC said the plant is strategically located on the outskirts of Tiruvallur, which will help with efficient production and better control over the supply chain to ensure timely delivery of products. The plant is already operational and the company plans to double its production capacity in the near term. The expansion is part of AXITEC's ongoing efforts to meet growing market demand and enhance its ability to quickly deliver high-quality solar solutions.   The plant is also seeking to have its products included in the approved list of PV module models and manufacturers to meet national standards for government-supported projects. Tanmoy Duari, CEO of AXITEC Energy India, said: "The inauguration of the new plant in Tiruvallur marks a key step for AXITEC in driving solar solutions in India and beyond. This plant reflects our commitment to quality, innovation and sustainability. By leveraging cutting-edge N-type TopCon technology, we are not only improving the efficiency and performance of PV modules, but also contributing to the local economy by creating jobs."   According to the 2024 State of Solar PV Manufacturing in India report released by Mercom India Research, India will add 20.8GW of PV module and 3.2GW of PV cell capacity in 2023.   As of December 2023, the cumulative PV module capacity reached 64.5GW and the PV cell capacity reached 5.8GW. The new capacity in 2023 is mainly driven by domestic demand and export opportunities.     In January this year, the US company First Solar inaugurated its fully vertically integrated solar production plant in Tamil Nadu, with a nominal annual capacity of 3.3GW.

Recently, Jiangsu Riyu Photovoltaic New Materials Co., Ltd. completed a round B financing of over 100 million yuan. This round of financing was led by Bohua Capital and Huatai United Securities served as a financial advisor. The funds from this round of financing will continue to be used to attract top talents in the industry, increase R&D investment and business expansion, and increase the market share of N-type silver paste. Guo Peng, Chairman of Riyu Shares, said: Thank you investors for your trust in Riyu Photovoltaic. This financing will provide strong support for the company's future development. 2024 is the year of adjustment for the photovoltaic industry, but Riyu Shares will firmly grasp the opportunities brought by the industry adjustment, meet challenges head-on, help the industry achieve cost reduction and efficiency improvement, expand the market share of N-type silver paste, enhance the company's industry status, provide customers with better silver paste products, and contribute to improving the level of local new quality productivity. , Work hard to give back to society and investors. Zhao Ye, Executive Director of Bohua Capital, said: Bohua Capital adheres to the concept of long-term investment, actively responds to the country's strategic requirements of serving the real economy and being patient capital, and is firmly optimistic about China's photovoltaic industry. It always believes that short-term adjustments will not change the long-term positive trend of the industry. As the core auxiliary material of photovoltaic cells, silver paste is directly related to the cost and efficiency of photovoltaic products. The continuous iteration of its products is of great significance to the cost reduction and efficiency improvement of the industry. Riyu Co., Ltd. is an emerging force in the domestic N-type silver paste industry. It focuses on product research and development, has strong technical strength, and has rapid shipment growth. It is expected to grow into a new leading company. Bohua Capital looks forward to growing with the company and contributing to the development of China's photovoltaic industry and the improvement of new quality productivity. Riyu Co., Ltd. is a leading domestic N-type silver paste manufacturer. Its products cover various technical routes such as PERC, TOPCon, BC, and HJT. Among them, HPBC silver paste and TOPCon LECO silver paste products have excellent performance and are at the leading level in the industry. The company's customers have covered mainstream domestic photovoltaic cell manufacturers. In the first half of 2024 when the photovoltaic industry entered an adjustment period, the company's shipments still achieved a year-on-year growth of 166%.

Japanese industrial electrical and automation technology company Toshiba Mitsubishi Industrial Systems Corporation (TMIC) has announced that it will expand production capacity in the United States to build a 9GW photovoltaic inverter factory.   Its US subsidiary, TMIC Corporation Americas, will build a photovoltaic inverter factory in Texas. The company expects the factory to start construction in October 2024, and has the potential to further expand the initial 9GW annual production capacity based on market demand.   In addition, the company will move its US headquarters from Roanoke, Virginia to Houston, Texas in March 2025. TM IC entered the US market in 2010. “This strategic expansion underscores TMIC’s commitment to the renewable energy industry, advancing clean energy technologies, maintaining strong customer relationships, and competing on a global basis while proudly manufacturing in the USA,” said Manmeet Bhatia, president and CEO of TM IC Americas.   Although the company did not mention the role of the Inflation Reduction Act (IRA) in opening this new factory in its press release, solar inverters are one of the solar equipment included in the Inflation Reduction Act (IRA).   Previously, German inverter supplier SMA Solar highlighted the importance of the IRA and how it provides an “incredible long-term growth opportunity.”

Recently, Swiss solar panel manufacturer Meyer Burger announced the suspension of its 2GW solar cell manufacturing project in Colorado, USA. Meyer Burger announced the plan in July 2023 and said that the Colorado battery factory will exclusively supply cells for the company's solar module factory in Arizona. Meyer Burger management said: "Since it is no longer economically viable to build a factory in Colorado Springs, the project will be stopped. In view of the revision of the strategy, the planned cooperation with the US technology group will not be implemented at present." Its module production plant in Goodyear, Arizona, is currently in the stage of capacity ramp-up, with a current nominal annual production capacity of 1.4GW, and the original planned 700MW expansion plan has also been suspended. As part of the upcoming restructuring plan, Meyer Burger may continue to advance its expansion process in the future. Meyer Burger's solar cell production site in Bitterfeld-Wolfen, Thalheim, Germany will continue to operate at full capacity and continue to be its mainstay in supplying cells to U.S. module factories. Its module production plant in Freiberg, Germany has been temporarily closed due to a lack of financial support for local manufacturers. Meyer Burger also said that debt financing previously sought by monetizing 45 times the tax credit will be done on a smaller scale. Management expects its financing needs to be significantly reduced, and the remaining financing gap after the capital increase in April 2024 will also be narrowed. Meyer Burger has begun to develop a comprehensive restructuring and cost-cutting plan. Previously, the company announced that it would postpone the release of its financial results for the first half of 2024 to September 16, 2024, as the company was working to secure additional financing and strategic technology partners. Recently, the company said it would further postpone the release of its financial results to September 30, 2024, or even later.

The Victorian state government of Australia detailed a new decarbonization plan on August 21, aiming to introduce about 7.6GW of rooftop PV by 2035, in addition to 3GW of large-scale PV power station projects.   The report, Cheaper, Cleaner, Renewable: Our Plan for Victoria’s Electricity Future, outlines the actions the Victorian Government is taking to ensure it meets its renewable energy targets, including a target of 65 per cent renewable energy in the electricity mix by 2030 and 95 per cent by 2035. Currently, about 38 per cent of Victoria’s electricity comes from renewable generation. PV features prominently in Victoria’s decarbonisation plans. In fact, Victoria is targeting about 7.6GW of new rooftop PV capacity by 2035.   Victoria’s rooftop PV market continues to grow, thanks to the state’s push for homes and businesses. The most noteworthy is the "Solar Homes" program. The program provides a rebate program to encourage rooftop photovoltaic projects. The Victorian government revealed on August 15 that since the launch of the program, it has helped install 2GW of photovoltaic systems. The projects delivered by this program account for 13% of Victoria's total renewable energy, and its solar panels have accumulated a total power generation of 6.5GWh. About 330,000 photovoltaic panels, hot water and solar battery systems have been installed through the rebate program. The target for large-scale ground photovoltaics is 3GW; the target for energy storage is 6.3GW In addition to rooftop photovoltaics, Victoria is also focusing on the opportunities brought by large-scale renewable energy power. The report also breaks down this goal into different technologies. Victoria's renewable energy target is to reach an installed capacity of 12.7GW, including 9.7GW of onshore wind power and 3GW of large-scale photovoltaic power stations.   The report also mentions energy storage technology, and Victoria is ambitiously expanding the scale of variable energy generation. In order to maintain grid stability and provide flexible services, the state government aims to have at least 6.3GW of energy storage throughout Victoria.   Large-scale transmission projects will provide a welcome boost to decarbonization It should also be noted that Victoria will benefit from three large-scale transmission and interconnection projects being developed in the National Electricity Market. The first to be launched is the Western Renewables Link project, which is expected to be connected to the grid in 2027. The Western Renewables Link project is a proposed new overhead high-voltage transmission line, 190 kilometers long. The line will transmit renewable energy from Bulgana in western Victoria to Sydenham in northwest Melbourne. Two years later, in 2029, the government expects the 1.7GW Victorian Transmission Network (VNI West) to be commissioned, which will provide additional transmission capacity between Victoria and neighboring New South Wales. The proposed 500kV double-circuit transmission line will connect the two high-voltage grids. The final interconnector is the 750MW Marinus Link line connecting Victoria and Tasmania, with the first stage expected to be commissioned in 2030. When fully operational, the link will have a capacity of 1.5GW, allowing green hydroelectricity to be exported to the mainland grid when needed, reducing the risk of blackouts. Similarly, Tasmania will see an increase in photovoltaic power transmitted from the mainland. Victorian Energy and Resources Minister Lily D'Ambrosio said the comprehensive plan would ensure communities and industry were at the center of the energy transition.   "We will provide an affordable, reliable and secure electricity system for all Victorians. We mean business. We are vigorously advancing renewable energy construction and creating and maintaining the right conditions for renewable energy investment," D'Ambrosio added.

According to foreign media reports, on August 29, local time in the United States, the U.S. Bankruptcy Court approved Complete Solaria to acquire SunPower's assets for US$45 million (about RMB 319 million), including its distributed solar business, non-installation dealer sales business, and the Blue Raven division acquired by SunPower for US$165 million in 2021. This means that if there is no higher bid in the auction held in the next few weeks, Complete Solaria will acquire the above assets. Previously, SunPower declared bankruptcy in August this year due to falling demand and rising inflation.   According to court documents, the Delaware Bankruptcy Court set a deadline of September 10 for additional bids, and if necessary, an auction will be held on September 16. The court also set a deadline of September 20 for objections to the sale. In addition, Maxeon, which was spun off from SunPower in 2020, reportedly expressed opposition to the "stalking horse bidding" rule on the grounds that it owns SunPower's trademark rights outside the United States. However, the objection was rejected.

Customers from Malaysia show the installed results，Total capacity 1MW, T-shaped color steel tile roof