Hello there, solar enthusiasts! There’s been a surge in global solar corporate funding, reaching a staggering 42% increase in 2023. In monetary terms, that translates to over $34.3 billion raised across more than 162 deals, according to a recent report by Mercom Capital. This is a significant leap, indicative of the growing recognition of solar companies in transforming energy systems worldwide.
One critical solar innovation you should track is the invention of an off-grid solar EV charging system, designed for speedy installation. A product like PairTree introduces bifacial solar panels for your home available in 4.6 kW and 5 kW units. These are combined with a 42.4 kWh storage system and one or two AC level 2 EV chargers. Such technology has the potential to revolutionize how we approach charging electric vehicles at home.
In our further North, Alaska’s tribal communities are taking advantage of the sector’s growth. They’re using renewables projects as a way to improve payback, forming independent power producers and gaining access to a state subsidy in the process. This shift embodies the push towards localizing renewable energy deployment, where a solar company can significantly impact a community’s way of living.
Let’s journey next to Louisiana, where Recurrent Energy secured a whopping $160 million for its Bayou Galion Solar project. This solar project promises a 98 MW power output. Even more exciting, Microsoft committed to be the sole offtaker for all the energy produced by this project, aligning with its ambitious goal to be carbon negative by 2030.
Over in Illinois, a series of community solar installations are in the planning stage, with an anticipated 26 scheduled within an 82 MW portfolio. The average power output for each solar array for home installation is expected to be around 3MW. An additional bonus for nature lovers is that most of these installations will include a pollinator habitat. Brilliant!
On the flipside, we’ve seen a dip in Enphase’s Q4 revenues, dropping by 35% in the U.S and a massive 70% in Europe. Reduced demand and reduced shipments due to high unsold inventory at distributors account for this shift, highlighting some of the subtle market and logistical challenges solar companies face.
In conclusion, the solar industry is surging ahead with some standout projects, substantial funding, and game-changing innovations. Beyond just solar panels for your home, we’re seeing more and more stories of massive community impact and corporate responsibility in the solar sector. Despite some hiccups and challenges, the overall trend for this space continues to be an exciting upward trajectory. For those interested in making a solar switch, there’s never been a better time to get on board!
Original Articlehttps://pv-magazine-usa.com/2024/02/07/sunrise-brief-solar-corporate-funding-rises-42-globally-in-2023/
