WEEKLY REVIEW
1. India to add 22.4GW solar capacity in 2024 – JMK Research
India is on track to install 22.4GW of new solar PV generation capacity in 2024 according to energy consultancy firm JMK Research.
Data in JMK's Q3 2024 renewable energy update showed that India installed around 13.2GW of new utility-scale solar capacity from January to September this year, a roughly 161% increase on the same period in 2023. It added 3.2GW of rooftop solar capacity in the same period, a 7% increase.
2. Australian government launches review of the NEM to facilitate renewables growth
The Australian government has commenced a review of the National Electricity Market (NEM) to identify how it will operate in the coming decades and facilitate the uptake of solar PV.
The review will examine keeping household bills low while better managing rooftop solar and utility-scale renewable energy generation uptake.
3. US set to install 32GW utility-scale solar PV in 2024
The American Clean Power Association (ACP) has forecasted that the US is set to add 32GW of utility-scale solar PV capacity in 2024.
ACP released a new report, Solar Market Monitor, which was produced by S&P Global Commodity Insights, where it predicts a drop in utility-scale solar additions for 2025.
4. US DOE launches US$30 million funding seeking AI to accelerate interconnection process
The US Department of Energy (DOE) has launched US$30 million in funding from the Bipartisan Infrastructure Law (BIL) to accelerate the interconnection process for new energy generation.
5. Poland to integrate private finance and EU funding to meet solar deployment goals
Attracting private investments into the Polish solar sector, and effectively integrating EU funding and private finance into the sector, will be essential if Poland is to meet its renewable power goals.
This was the opinion of Dr Konrad Wojnarowski, undersecretary of state at the Polish Ministry of Development Funds and Regional Policy, who opened Solar Media’s Large Scale Solar Central Eastern Europe event at the Warsaw Presidential Hotel this morning in the Polish capital. Wojnarowski called the need to expand the Polish solar sector as "the greatest investment need in Europe," highlighting the vital role that securing finance will play in the country's long-term energy future.
6. Indonesia eyes 75GW of renewable energy generation by 2040
Indonesia's president, Prabowo Subianto, has established a 75GW renewable energy capacity target for the country at the G20 Summit in Brazil.
Speaking during the 'Sustainable Development and Energy Transition' session, the president announced the country's plan to withdraw coal-fired power by 2040 while building over 75GW of renewable energy capacity.
7. 'Decisive action on climate': World's largest solar PV and battery project underway in Philippines
Philippines president Ferdinand Marcos Jr attended as construction began on what is thought to be the world's largest power plant to combine solar PV and battery storage.
The Southeast Asian country's presidential communications office announced last week (21 November) that Marcos Jr. attended the groundbreaking celebration for the Meralco Terra Solar project in Gapan City, about 100 km from the capital Manila.