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Green Globe: India sees solar soar as country braces for peak coal demand

India has added more than 7.1 GW of solar photovoltaics so far this year, accounting for about 39% of total new generation capacity. The country now has installed solar capacity of about 14.7 GW as of September 2017, according to Quartz. Last year, the country added about half as much capacity as it has in the first three quarters of 2017.

SNL Image

Solar panels are displayed for sale at a market in New Delhi, India.

Source: The Associated Press

The expansion of India's domestic solar market stems from Prime Minister Narendra Modi's plan to incorporate 175 GW of renewable energy capacity by the end of 2022 and to dramatically cut the country's use of fossil fuels. Earlier this year, the International Renewable Energy Agency said India could meet 25% of its energy demand with renewables by 2030. To reach that goal, the country must tackle its outdated infrastructure and less-than-ideal levels of clean energy investment.

India's energy sector also faces big changes for its coal industry; the Institute for Energy Economics and Financial Analysis released a report on Nov. 21 indicating that India is within a decade of peak thermal coal demand and that peak use will not be more than 10% above current levels.

Germany's utility regulator Bundesnetzagentur awarded 1 GW of onshore wind capacity to 61 projects in the country's third energy auction this year. The average bid price for winning projects declined 11% since the last auction in August, Reuters reports, from €42.90/MWh to €38.20/MWh (US$50.58 to US$45.04). Regulators introduced an auction system this year to award licenses as an attempt to boost competition with developers, lower costs and move away from subsidies. In fact, Germany has spent an estimated €189 billion, or US$222 billion, on renewable energy subsidies as part of its Energiewende, the "energy transition" initiative to move away from fossil fuels and nuclear. However, the government's efforts have not gone according to plan; a leaked government document showed that Germany would miss its 2020 emissions target by more than it expected, despite the policies and investments from the public and private sectors. Meanwhile, energy prices for German customers are among the highest in Europe.

Two of Australia's biggest renewable trade groups have merged — the Australian Solar Council and its counterpart, the Energy Storage Council, have combined forces to form the national Smart Energy Council. According to PV Tech, it is part of an effort to create one national voice on solar, storage and smart energy management and to ensure Australia's future as a renewable energy leader.

"Clean energy is evolving rapidly and becoming cheaper and smarter," the new group's CEO, John Grimes, said in a statement. "Our members are at the forefront of developing cheap renewables. Cheap battery storage, off river pumped hydro and other forms of energy storage, are all being harnessed by Smart Energy IT systems, to bring together a complete and affordable solution."

Australia's renewable energy industry has recently faced roadblocks from its government; in October, the national government nixed a plan to generate 42% of the country's power from wind and solar energy by 2030 and decided to forgo clean energy project subsidies.

Elsewhere

* JA Solar Holdings Co. Ltd is expected to close a deal with the China-based solar company's chairman and CEO to privatize.

* California has been in talks with Norway's oil giant Statoil ASA on the company's ambitions to develop offshore wind projects along the U.S. West Coast, according to Axios.

* While Saudi Arabia has touted its renewable energy ambitions, the country is turning its eye toward nuclear, and Westinghouse is in talks with other U.S. companies to make bids, Reuters reports.