Swiss solar power company Etrion Corporation has begun construction on its first two projects in Japan totaling 34 MW and jointly owned with Hitachi High-Technologies Corporation, a subsidiary of Hitachi, Ltd.
The projects include the 24.7 MW Shizukuishi Solar Project, which is under construction on 51 hectares of leased land in Japan's Iwate Prefecture. Construction began in October and the solar project is expected to be operational by the end of 2016. The facility will connect through the Tohoku Electric Power utility, which has a 20-year power purchase agreement (PPA) with the project. Tohoku Electric will receive JPY 40 ($0.37) per kilowatt hour (kWh) produced. Shizukuishi is expected to generate some 25.6 gigawatt hours (GWh) of solar electricity a year.
Etrion and Hitachi High-Tech are also began construction this month on the 9.3 MW Mito PV project on 27 hectares of leased land in Ibaraki Prefecture. The plant is scheduled to be operational by the end of 2015. The facility will connect through the Tokyo Electric Power Company (TEPCO). The project is expected to sign a 20-year PPA with TEPCO by the end of 2014 at the same feed-in rate as the Shizukuishi project. The Mito plant is expected to generate about 10.3 GWh of electricity annually.
The companies are financing 80% of both projects through project debt from Sumitomo Mitsui Trust Bank with an 18-year tenor. The first drawdown of the project loan for Shizukuishi was recently completed. The remaining 20% equity share for the projects is being funded by Etrion and Hitachi High-Tech based on their respective ownership interests in each project of approximately 87% and 13%.
The projects are both being built by Hitachi High-Tech using Hitachi's engineering, procurement and construction (EPC) capabilities. Hitachi High-Tech will also provide the technology, including fixed-tilt solar inverters manufacturer by Canadian Solar and inverters made by Hitachi. Hitachi High-Tech will likewise provide operations and maintenance (O&M) services through a long-term fixed-price agreement for each project.
"We have now demonstrated our unique execution capability in the Japanese solar market – from greenfield development through project finance and construction – and we look forward to accelerating our growth in the months ahead," said Etrion CEO Marco A. Northland.
The chief exec added that Etrion and Hitachi were committed to delivering "shovel-ready or under-construction projects in Japan totaling 100 MW by 2015 and 300 MW by 2017."
Wednesday 15 October 2014
Polysilicon capacity expansions to pick up speed in 2015
GTM Research has released a new report which finds that rebounding prices and end-market growth are encouraging expansions of polysilicon production capacities and resumption of production at previously shuttered facilities.
Polysilicon 2015-2018: Supply, Demand, Cost and Pricing predicts that 70,000 metric tons of annual polysilicon production capacity will come online in 2015, and another 61,000 metric tons in 2016.
This will bring global polysilicon capacity to 437,000 metric tons, enough to support 85 GW of crystalline silicon PV module production. GTM Research estimates that at least 60 GW of PV demand will be needed to maintain supply/demand balance in 2016, and if demand is not great enough this could cause prices to crash.
However, through the end of 2015 GTM Research expects prices to remain stable at US$18-24 per kilogram. The global polysilicon market came out of its last period of oversupply in the second half of 2013, following a period of “severe” overcapacity from 2011 through 2013 which crashed prices and led to heavy losses at many companies.
Another finding of the report is that fluidized bed reactor (FBR) technology will make up a larger portion of polysilicon production. GTM Research predicts that FBR capacity will nearly double from 26,000 metric tons in 2014 to 46,000 metric tons in 2015, and increase again for the next two years.
“We have a really positive view on FBR,” GTM Research Lead Upstream Analyst Shyam Mehta told PV Magazine. “It has an ultimately lower cash cost floor than Siemens process.”
However, despite this growth GTM Research expects FBR to represent only 15% of global polysilicon capacity in 2018. Mehta cites the highly proprietary nature of various FBR technologies as a factor. “In 2018, the only plants that we see scaling up and operating in FBR and those that have been already announced.”
Polysilicon 2015-2018: Supply, Demand, Cost and Pricing predicts that 70,000 metric tons of annual polysilicon production capacity will come online in 2015, and another 61,000 metric tons in 2016.
This will bring global polysilicon capacity to 437,000 metric tons, enough to support 85 GW of crystalline silicon PV module production. GTM Research estimates that at least 60 GW of PV demand will be needed to maintain supply/demand balance in 2016, and if demand is not great enough this could cause prices to crash.
However, through the end of 2015 GTM Research expects prices to remain stable at US$18-24 per kilogram. The global polysilicon market came out of its last period of oversupply in the second half of 2013, following a period of “severe” overcapacity from 2011 through 2013 which crashed prices and led to heavy losses at many companies.
Another finding of the report is that fluidized bed reactor (FBR) technology will make up a larger portion of polysilicon production. GTM Research predicts that FBR capacity will nearly double from 26,000 metric tons in 2014 to 46,000 metric tons in 2015, and increase again for the next two years.
“We have a really positive view on FBR,” GTM Research Lead Upstream Analyst Shyam Mehta told PV Magazine. “It has an ultimately lower cash cost floor than Siemens process.”
However, despite this growth GTM Research expects FBR to represent only 15% of global polysilicon capacity in 2018. Mehta cites the highly proprietary nature of various FBR technologies as a factor. “In 2018, the only plants that we see scaling up and operating in FBR and those that have been already announced.”
Monday 13 October 2014
Solar microinverter market could break $1 billion by 2018
The market for global photovoltaic (PV) solar microinverters and power optimizers is forecast to more than triple in the coming years, to more than $1 billion in 2018, with established and new regions increase their adoption, according to IHS Technology.
The United States is the largest region for microinverter shipments, and residential systems are the largest market for microinverters in U.S.
Microinverters are devices that convert direct current (DC) electricity from a single solar module into alternating current (AC) used by all electrical devices.
Although they are more costly, microinverters can in some cases harvest up to 25% more electricity than conventional string or central inverter devices, which convert power from multiple solar panels.
Worldwide market revenue for PV solar microinverters and power optimizers—collectively known as module-level power electronics (MLPE)—will rise at a compound annual growth rate of 27% to $1.1 billion in 2018, up from $329 million in 2013, according to IHS data.
"Demand for MLPE has been driven by key markets such as the United States, the United Kingdom and Australia,” said Cormac Gilligan, senior analyst for solar inverters at IHS. “The market has grown to more than $300 million in size, despite continued price pressure due to new entrants into the business and decreasing PV system prices.
He said demand for microinverters and power optimizers is expected to be driven by continued acceptance in mature European PV markets, such as Germany and France. Some of the major Asian markets, such as Japan and China, will also generate significant opportunity.
With microinverter suppliers expected to soon gain Japan Electrical Safety & Environment Technology Laboratories (JET) certification in Japan, microinverters will likely be shipping soon into this huge residential market.
In the next few years more microinverters are expected to go into commercial installations in the United States, which will keep the U.S. as the largest market for microinverters through 2018.
The United States is the largest region for microinverter shipments, and residential systems are the largest market for microinverters in U.S.
Microinverters are devices that convert direct current (DC) electricity from a single solar module into alternating current (AC) used by all electrical devices.
Although they are more costly, microinverters can in some cases harvest up to 25% more electricity than conventional string or central inverter devices, which convert power from multiple solar panels.
Worldwide market revenue for PV solar microinverters and power optimizers—collectively known as module-level power electronics (MLPE)—will rise at a compound annual growth rate of 27% to $1.1 billion in 2018, up from $329 million in 2013, according to IHS data.
"Demand for MLPE has been driven by key markets such as the United States, the United Kingdom and Australia,” said Cormac Gilligan, senior analyst for solar inverters at IHS. “The market has grown to more than $300 million in size, despite continued price pressure due to new entrants into the business and decreasing PV system prices.
He said demand for microinverters and power optimizers is expected to be driven by continued acceptance in mature European PV markets, such as Germany and France. Some of the major Asian markets, such as Japan and China, will also generate significant opportunity.
With microinverter suppliers expected to soon gain Japan Electrical Safety & Environment Technology Laboratories (JET) certification in Japan, microinverters will likely be shipping soon into this huge residential market.
In the next few years more microinverters are expected to go into commercial installations in the United States, which will keep the U.S. as the largest market for microinverters through 2018.
Solar Energy Storage System For Homes and Businesses Unveiled
An 8.6 kWh lithium-ion solar energy storage system for residential and commercial use has been launched by JuiceBox Energy. It is designed to work with grid-tied or off-grid solar systems. It features a system controller so the battery can be used as back-up power to a grid, thus enabling peak shifting and demand charge reduction. Notice these capabilities go beyond mere storage.
juiceboxIn other words, battery technology can be smart and interactive in addition to storing electricity. The system has a battery based inverter, and management system for charging and discharging. Diagnostics are part of the design, too, to monitor the system for potential faults. JuiceBox will be available in the fourth quarter of 2014, with greater volume production beginning in 2015.
“Energy storage is the critical technology that allows unrestrained solar growth enabling a clean energy future and a more resilient grid,” explained Neil Maguire, CEO of JuiceBox. JuiceBox is taking advance orders, but it isn’t clear yet what the price is.
It was reported in 2013 that solar power storage systems do qualify for the Federal Residential Energy Tax Credit. This kind of incentive is important because solar energy generally appears to be regarded as primarily about solar panels, but storage could become more common.
One thing that is nearly taken for granted with these new technologies is that they will be used for data collection that then can be constantly analyzed to improve those systems, “Another important innovation on the technology side will be “turning solar inverter into what we call ‘smart’ inverters. California is once again taking a lead in pushing grid-interactive functions into the inverters that connect solar PV systems to the grid. We want to get those features out into the field in every inverter possible, as soon as possible,” said Carlson.
Big data refers to the trend that is currently emerging and changing industry, but one could say there is also little data. Homeowners and business owners can measure and analyze their own data streams. It seems only reasonable to wonder if there aren’t greater opportunities for innovation embedded in these future data. It won’t be long before solar power storage systems are in the hands of people who will be sharing information on blogs and in online communities.
Surely this user information will add value somewhere and somehow to the solar energy sector, and for homeowners to optimize their energy efficiency. There has been too much focus on the cost of solar energy, and not enough on the fact that in the long run, such an investment can save money. Intelligent solar energy systems should help consumer awareness expand.
juiceboxIn other words, battery technology can be smart and interactive in addition to storing electricity. The system has a battery based inverter, and management system for charging and discharging. Diagnostics are part of the design, too, to monitor the system for potential faults. JuiceBox will be available in the fourth quarter of 2014, with greater volume production beginning in 2015.
“Energy storage is the critical technology that allows unrestrained solar growth enabling a clean energy future and a more resilient grid,” explained Neil Maguire, CEO of JuiceBox. JuiceBox is taking advance orders, but it isn’t clear yet what the price is.
It was reported in 2013 that solar power storage systems do qualify for the Federal Residential Energy Tax Credit. This kind of incentive is important because solar energy generally appears to be regarded as primarily about solar panels, but storage could become more common.
One thing that is nearly taken for granted with these new technologies is that they will be used for data collection that then can be constantly analyzed to improve those systems, “Another important innovation on the technology side will be “turning solar inverter into what we call ‘smart’ inverters. California is once again taking a lead in pushing grid-interactive functions into the inverters that connect solar PV systems to the grid. We want to get those features out into the field in every inverter possible, as soon as possible,” said Carlson.
Big data refers to the trend that is currently emerging and changing industry, but one could say there is also little data. Homeowners and business owners can measure and analyze their own data streams. It seems only reasonable to wonder if there aren’t greater opportunities for innovation embedded in these future data. It won’t be long before solar power storage systems are in the hands of people who will be sharing information on blogs and in online communities.
Surely this user information will add value somewhere and somehow to the solar energy sector, and for homeowners to optimize their energy efficiency. There has been too much focus on the cost of solar energy, and not enough on the fact that in the long run, such an investment can save money. Intelligent solar energy systems should help consumer awareness expand.
Sunday 12 October 2014
BPVA launches UK schools solar rooftop initiative
The British Photovoltaic Association (BPVA) has teamed up with U.K. solar project developer Rated Solar Installer to launch the Powering Knowledge campaign – an initiative designed to bring rooftop solar power to the 22,000 schools across the U.K.
The annual energy bill for schools in the U.K. is £500 million ($804 million) – a figure that the BPVA believes can be vastly reduced with the help of solar PV. The Powering Knowledge campaign aims to provide free solar PV systems that can then be funded via a range of options, including power purchase agreements (PPAs), crowdfunding finance, community share schemes and solar leases.
With considerable amounts of thus-far untapped rooftop space available, the BPVA and Rated Solar Installer will work with the Department for Education (DfE) and the Department for Energy and Climate Change (DECC) to help schools fulfill their solar potential.
According to BPVA chairman Reza Shaybani, the campaign has already attracted a number of schools interested in signing up for the scheme. “This is the largest campaign of its kind in the U.K., and we have so far managed to raise £400 million in a relatively short period of time,” Shaybani told pv magazine.
Installations atop school roofs are scheduled to begin later this year, possibly after the Powering Knowledge Conference, which is penciled in for late 2014 or early 2015. The conference will explain the program in more detail and will be an opportunity for the U.K.’s education sector to network with the PV industry in the “hope of raising greater solar awareness in schools”, said Shaybani.
Government support
DECC, alongside the DfE, will work closely with BPVA and Rated Solar Installer on the campaign, added Shaybani. "DECC has been very supportive. This all started when former minister for Energy and Climate Change Greg Barker launched the Power to Pupil program back in February," said Shaybani. "Putting PV on schools is a fantastic initiative and a great cause, so we approached them with our idea, and they went with it."
The Powering Knowledge program offers a PPA at £0.05 pence per kW hour ($0.07/kWh), one of the best rates for solar power available in the U.K., and an attractive proposition for cash-strapped schools.
Speaking at the launch of the program, Amber Rudd, the current minister for Energy and Climate Change, remarked: "Solar can not only help schools to take control of their energy bills, but is also a wonderful way of engaging pupils, teachers and parents around helping the environment too."
Shaybani confirmed that the BPVA will take an active role in engaging with schools that sign up for the campaign, and will soon publish their Smork in Suntown booklet – jointly developed with SMA Technologies – that teaches children all about solar power, its potential, and how it works.
"The benefits of the Powering Knowledge campaign are tremendous for each school individually, as everyone wins: pupils, schools, local residents, and even local and central government that no longer have to face ever-increasing electricity prices," added Shaybani.
Launched solely with the PPA financing agreement, the scheme will soon be eligible for funding via the Parental Bond crowdfunding platform. The model enables parents with children enrolled at school to purchase bonds – similar to the recent 60 million bond scheme launched by Belectric – upon which a good rate of return is guaranteed. The bonds are also transferrable and can be passed on to pupils at the schools.
"Additionally, BPVA is also creating a community club whereby we give every school that joins the program £100 every year for 20 years," revealed Shaybani. "Schools can use this money any way they see fit – for investing in better IT equipment, gym refurbishment, or educational trips."
The annual energy bill for schools in the U.K. is £500 million ($804 million) – a figure that the BPVA believes can be vastly reduced with the help of solar PV. The Powering Knowledge campaign aims to provide free solar PV systems that can then be funded via a range of options, including power purchase agreements (PPAs), crowdfunding finance, community share schemes and solar leases.
With considerable amounts of thus-far untapped rooftop space available, the BPVA and Rated Solar Installer will work with the Department for Education (DfE) and the Department for Energy and Climate Change (DECC) to help schools fulfill their solar potential.
According to BPVA chairman Reza Shaybani, the campaign has already attracted a number of schools interested in signing up for the scheme. “This is the largest campaign of its kind in the U.K., and we have so far managed to raise £400 million in a relatively short period of time,” Shaybani told pv magazine.
Installations atop school roofs are scheduled to begin later this year, possibly after the Powering Knowledge Conference, which is penciled in for late 2014 or early 2015. The conference will explain the program in more detail and will be an opportunity for the U.K.’s education sector to network with the PV industry in the “hope of raising greater solar awareness in schools”, said Shaybani.
Government support
DECC, alongside the DfE, will work closely with BPVA and Rated Solar Installer on the campaign, added Shaybani. "DECC has been very supportive. This all started when former minister for Energy and Climate Change Greg Barker launched the Power to Pupil program back in February," said Shaybani. "Putting PV on schools is a fantastic initiative and a great cause, so we approached them with our idea, and they went with it."
The Powering Knowledge program offers a PPA at £0.05 pence per kW hour ($0.07/kWh), one of the best rates for solar power available in the U.K., and an attractive proposition for cash-strapped schools.
Speaking at the launch of the program, Amber Rudd, the current minister for Energy and Climate Change, remarked: "Solar can not only help schools to take control of their energy bills, but is also a wonderful way of engaging pupils, teachers and parents around helping the environment too."
Shaybani confirmed that the BPVA will take an active role in engaging with schools that sign up for the campaign, and will soon publish their Smork in Suntown booklet – jointly developed with SMA Technologies – that teaches children all about solar power, its potential, and how it works.
"The benefits of the Powering Knowledge campaign are tremendous for each school individually, as everyone wins: pupils, schools, local residents, and even local and central government that no longer have to face ever-increasing electricity prices," added Shaybani.
Launched solely with the PPA financing agreement, the scheme will soon be eligible for funding via the Parental Bond crowdfunding platform. The model enables parents with children enrolled at school to purchase bonds – similar to the recent 60 million bond scheme launched by Belectric – upon which a good rate of return is guaranteed. The bonds are also transferrable and can be passed on to pupils at the schools.
"Additionally, BPVA is also creating a community club whereby we give every school that joins the program £100 every year for 20 years," revealed Shaybani. "Schools can use this money any way they see fit – for investing in better IT equipment, gym refurbishment, or educational trips."
Saturday 11 October 2014
Tuesday 26 August 2014
Trina Solar's Q2 shipments soar 69%
Trina Solar's second quarter financial results, published today, reveal that the Chinese PV giant shipped 943.3 MW of solar modules in Q2 – a soaring 69.1% increase on the first quarter of the year, when 558 MW of modules were shipped.
This solid Q2 performance was in line with company projections and helped drive net revenue to $519.4 million, a quarter-on-quarter increase of 16.8%. However, with the cost of revenues increasing by 24.3% in Q2, gross profit fell slightly (12.3%) to $80.2 million, delivering a gross margin of 15.4%. In the first quarter of the year, the margin was above 20%.
Trina Solar chairman and CEO Jifan Gao said that the company's strong brand and well-developed global sales network allowed Trina to capitalize on commercial opportunities in multiple markets, with the U.S. singled out for particular praise.
"Notably, we continue to see robust demand for our product from our many valued long-term customers in the U.S., thanks to Trina Solar's established market position and superior product offerings," said Gao. The CEO also revealed that domestic demand in China bounced back after a "relatively weak first quarter", before stressing that the company was also pleased with its fledgling downstream business.
"We are excited by the potential we see in our downstream business and will continue to invest in building a mature pipeline of projects," said Gao. That pipeline includes the construction of a 90 MW power plant in China's Xinjiang Province, as well as a 49.9 MW solar project in the U.K.
"We believe that the U.K. is a good target country for investment due to its well-established market and mature investment environment," added Gao.
More DG and hope for U.S. consolidation
Trina Solar's report revealed that the company will continue to place a greater share of importance on its distributed generation (DG) projects in China, pointing to the fact that a rather hefty pipeline of DG PV projects is set to come online in the country throughout the remainder of the year, including a 13 MW carport installation in Hunan Province and a 7.4 MW rooftop PV project undertaken in Changzhou, Jiangsu Province.
In light of the recent U.S. anti-dumping and countervailing duty preliminary rulings, Gao reiterated that the company is more committed than ever to the U.S. market.
"We believe that Trina Solar will continue to play an important role and maintain our leading market position in the U.S. thanks to our solid and long-standing reputation for high quality products and services." Trina's plans are boosted by the knowledge that it was hit with one of the lowest anti-dumping tariffs of all the leading Chinese solar PV manufacturers.
Operating costs and looking ahead
Across the second quarter of 2014, operating costs increased by 21.2% quarter-by-quarter, rising to $64.5 million. However, that figure represents a year-on-year decrease of 14%, which helped Trina turn a 2013 Q2 operating loss of $23.9 million into a $15.7 million operating income gain this year.
At the end of Q2, the company had $562.7 million in cash and cash equivalents, and expects to enjoy a strong end to the year. As of June 30, Trina boasted in-house ingot and wafer production capacity of 2 GW and 1.6 GW respectively.
PV cell manufacturing capacity stood at 2.7 GW, with module manufacturing capacity 3.6 GW. By the end of the year, Trina expects module capacity to rise to 3.8 GW, cell capacity to reach 3 GW, and wafers and ingot manufacturing capacity to reach 1.7 GW and 2.2 GW respectively.
Guidance for Q3 forecasts solar module shipments in the range of 1,060 MW to 1,120 MW, placing Trina on course to hit its 2014 guidance of 3.6 GW to 3.8 GW modules shipped.
This solid Q2 performance was in line with company projections and helped drive net revenue to $519.4 million, a quarter-on-quarter increase of 16.8%. However, with the cost of revenues increasing by 24.3% in Q2, gross profit fell slightly (12.3%) to $80.2 million, delivering a gross margin of 15.4%. In the first quarter of the year, the margin was above 20%.
Trina Solar chairman and CEO Jifan Gao said that the company's strong brand and well-developed global sales network allowed Trina to capitalize on commercial opportunities in multiple markets, with the U.S. singled out for particular praise.
"Notably, we continue to see robust demand for our product from our many valued long-term customers in the U.S., thanks to Trina Solar's established market position and superior product offerings," said Gao. The CEO also revealed that domestic demand in China bounced back after a "relatively weak first quarter", before stressing that the company was also pleased with its fledgling downstream business.
"We are excited by the potential we see in our downstream business and will continue to invest in building a mature pipeline of projects," said Gao. That pipeline includes the construction of a 90 MW power plant in China's Xinjiang Province, as well as a 49.9 MW solar project in the U.K.
"We believe that the U.K. is a good target country for investment due to its well-established market and mature investment environment," added Gao.
More DG and hope for U.S. consolidation
Trina Solar's report revealed that the company will continue to place a greater share of importance on its distributed generation (DG) projects in China, pointing to the fact that a rather hefty pipeline of DG PV projects is set to come online in the country throughout the remainder of the year, including a 13 MW carport installation in Hunan Province and a 7.4 MW rooftop PV project undertaken in Changzhou, Jiangsu Province.
In light of the recent U.S. anti-dumping and countervailing duty preliminary rulings, Gao reiterated that the company is more committed than ever to the U.S. market.
"We believe that Trina Solar will continue to play an important role and maintain our leading market position in the U.S. thanks to our solid and long-standing reputation for high quality products and services." Trina's plans are boosted by the knowledge that it was hit with one of the lowest anti-dumping tariffs of all the leading Chinese solar PV manufacturers.
Operating costs and looking ahead
Across the second quarter of 2014, operating costs increased by 21.2% quarter-by-quarter, rising to $64.5 million. However, that figure represents a year-on-year decrease of 14%, which helped Trina turn a 2013 Q2 operating loss of $23.9 million into a $15.7 million operating income gain this year.
At the end of Q2, the company had $562.7 million in cash and cash equivalents, and expects to enjoy a strong end to the year. As of June 30, Trina boasted in-house ingot and wafer production capacity of 2 GW and 1.6 GW respectively.
PV cell manufacturing capacity stood at 2.7 GW, with module manufacturing capacity 3.6 GW. By the end of the year, Trina expects module capacity to rise to 3.8 GW, cell capacity to reach 3 GW, and wafers and ingot manufacturing capacity to reach 1.7 GW and 2.2 GW respectively.
Guidance for Q3 forecasts solar module shipments in the range of 1,060 MW to 1,120 MW, placing Trina on course to hit its 2014 guidance of 3.6 GW to 3.8 GW modules shipped.
Subscribe to:
Posts (Atom)