SPower has said it will add 700 MW of clean energy to its portfolio in 2016. To meet this goal, it has contracted JinkoSolar to supply 1 GW of solar panels and hired Rosendin Renewable Energy Group to provide EPC services for its 2016 portfolio.

IHS, Inc. has confirmed a wafer supply shortage. This will lead to utilization rates of up to 88% in 2016, and increasing levels of outsourced production. Long-term contracts, often with pre-payment clauses applied, will affect some module manufacturers’ balance sheets. Prices for multicrystalline wafers are expected to continue their increase, while monocrystalline’s market share is set to grow.

India’s cumulative solar capacity has surpassed 5 GW, with 1.385 GW installed this financial year. Around 18 GW in tenders are expected to be out by March 31. In related news, World Bank Group member, IFC has pledged its support to help fund the 750 MW Rewa ultra-mega solar power project in Madhya Pradesh.

Queensland has seen the first Tesla Powerwall home battery switched on in Australia under Energex’s battery storage trial, launched today by State Premier, Annastacia Palaszczuk.

In a busy week for Shunfeng International Clean Energy Limited, the Chinese company has issued a 2015 profit warning, where it expects consolidated profit to fall 90% YoY. It also now officially owns a 63% stake in Suniva; and has seen a 33 MW Australian solar project shortlisted for the next stage of competitive bidding.

SMA Solar Technology AG has launched what it says is the first AC-coupled inverter system for high-voltage batteries. It is hoping to tap into a storage application market worth up to EUR1.2 billion. The Sunny Boy Storage will be available from March in first Germany, and then other, key markets.

A new report from IRENA has calculated that a 36% renewable energy share in the global energy mix by 2030 would boost GDP by up to US$1.3 trillion. Over 14 million new jobs would also be created, of which solar would account for 7.2 million.

BNEF calculates that 57 GW of solar PV was installed last year, marking an increase of around 30% on 2014. Latest figures also show that, despite factors which could have impeded growth, clean energy financing reached US$329.3 billion in 2015. Chinese and U.S. markets led the charge, alongside a host of new markets; European activity, however, decreased.

Renewables will continue to dominate Germany’s power sector in 2016. Decarbonisation is said to be stagnating, however, thus, jeopardizing the country’s climate protection goals. And, while household power prices fell last year, they are expected to increase to 2014 levels again. Encouragingly, solar sees strong public support. Agora Energiewende looks to the new year, having assessed 2015, which saw a year of records, both for renewables and coal.

An extraordinary shareholders meeting has today seen the merger of Enel Green Power S.p.A. (EGP) with its parent company, Enel S.p.A. approved.