Magazine Archive 12-01 – 2024-2025 | Best in class

  This time in 2023, all in the solar industry were worried about significant oversupply of PV modules and the threat this posed all along the supply chain. Looking back over the year that’s now drawing to a close, it’s safe to say those worries were justified. In 2024, worldwide manufacturing capacity for PV modules […]

The Invesco Solar exchange-traded fund (ETF) was down month on month in October 2024 as investors grappled with the uncertainty of the US presidential election. A potential rollback of tax credits for clean technology businesses and the threat of new tariffs both played a role, says Jesse Pichel, of Roth Capital Partners.

Amid record-low prices for solar modules, the focus of cost reduction for utility-scale solar projects is shifting to non-module balance-of-system (BoS) expenses. A transition from 1.5 kV voltage to 2 kV in solar projects is expected to gain traction through 2030.

Smaller solar manufacturers have been shuttering production lines, but not at a pace fast enough to return profit margins to healthy territory. InfoLink’s Amy Fang considers what lies ahead for PV companies in the near term.

Prices across the solar supply chain remained in bearish territory into the fourth quarter of 2024. Trade and regulatory developments have continued to preoccupy the industry and dampen trading activity.

In five key trends, pv magazine looks back over a year that saw PV module prices fall lower than many thought possible, while demand was restrained by grid congestion, among other challenges. Energy storage has had a strong year and geopolitics is seeing solar and battery manufacturing enter new regions as competition drives technical innovation.

The fossil fuel rich Middle East and North Africa (MENA) region faces mounting pressure to diversify its energy mix. While solar is cheap, it faces significant sociopolitical and economic challenges.

The new government of Jordan has been described by analysts as progressive on clean energy. Public support for solar has already been widespread, with tariffs for home systems encouraging people to adopt low-cost energy.

Saudi Arabia will have a challenging job on its hands to ensure long-term profitability and reliable performance from its energy system if its achieves its 130 GW target for solar generation capacity by 2030. A data-driven approach to desert dust could make a difference.

While the Inflation Reduction Act (IRA) is reshoring solar manufacturing in the United States, raising import tariffs may slow momentum. The actions of the incoming Trump administration are tough to forecast at this point.