A Global View. 2023 is likely to be a banner solar and wind year globally, expected to add over 400GW of total capacity around the world. With Russia’s invasion of Ukraine taking a volatility mallet to the EU gas market, it was just yesterday that Ukraine saw defensive positives in the distributed nature of wind farms. In total that brings the installed capacity to 4,500GW globally for wind and solar. The as available nature is going to require some storage I presume…
Permit Expediting. Europe is tired of waiting for projects that they want, and investors are willing to invest in, to get built because the permits aren’t getting approved. A new directive is going to make it 2 years maximum to get a project approved and 1 year for a repower. With as much existing capacity that exists, I can see colocation of some batteries in the future as well, given the success we’ve seen in the UK market. There are 58GW in permitting stages awaiting approval, possibly igniting a new stage of growth in the EU markets.
Taking A Manufacturing Victory Lap. Treasury released additional guidance for the $10billion in manufacturing tax credits this week and trade groups can take a victory lap for bringing the US manufacturing sector back to life. Press releases barely get highlighted anymore but that’s exactly what this exciting market needed after years of advocacy to get the IRA done.
The Lender You Can Depend On. In a market that is full of uncertainty, you can rely on Dividend Finance to bring you white glove service to help you reach your long-term goals. Apply Here
- Associated Press: Renewable energy surges, driven by solar boom and high fuel prices, report finds
- Reuters: Europe on verge of permitting leap for wind, solar farms
- Utility Dive: Treasury issues further guidance for IRA’s $10B tax credit incentivizing clean energy manufacturing
- Axios: Exxon strikes CO2 capture deal with steel giant Nucor
- PV-Tech: TotalEnergies sells ‘most of’ its climate venture capital assets to Aster
- Energy Storage News: RWE starts building Germany’s two largest BESS projects
- PV-Magazine: U.S. solar deployment to grow 40% this year, remains lowest-cost option
Opinion
Best, Yann