• 10 hours Thanksgiving Gas Prices At 3-Year High
  • 14 hours Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 16 hours South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 19 hours Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 19 hours Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 20 hours Iraq Steps In To Offset Falling Venezuela Oil Production
  • 23 hours ConocoPhillips Sets Price Ceiling For New Projects
  • 3 days Shell Oil Trading Head Steps Down After 29 Years
  • 4 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 4 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 4 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 4 days Venezuela Officially In Default
  • 4 days Iran Prepares To Export LNG To Boost Trade Relations
  • 4 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 4 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 4 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 5 days Rosneft Announces Completion Of World’s Longest Well
  • 5 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 5 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 5 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 5 days Santos Admits It Rejected $7.2B Takeover Bid
  • 5 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 5 days Africa’s Richest Woman Fired From Sonangol
  • 6 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 6 days Russian Hackers Target British Energy Industry
  • 6 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 6 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 6 days Lower Oil Prices Benefit European Refiners
  • 6 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 7 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 7 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 7 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 7 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 7 days OPEC To Recruit New Members To Fight Market Imbalance
  • 7 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 7 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 7 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 8 days GE Considers Selling Baker Hughes Assets
  • 8 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 8 days Saudi Aramco To Invest $300 Billion In Upstream Projects

Breaking News:

Thanksgiving Gas Prices At 3-Year High

Who's Next? Venezuela's Collapse Puts These Nations At Risk

Who's Next? Venezuela's Collapse Puts These Nations At Risk

While investors have been ignoring…

Global Energy Advisory November 17, 2017

Global Energy Advisory November 17, 2017

The IEA’s World Energy Outlook…

Solar Market Turns Positive as Demand Grows

Solar Market Turns Positive as Demand Grows

Rising demand around the world for solar energy is lifting the industry into profitability after years of oversupply. For years, solar manufacturers, spurred on by subsidies and government procurement, churned out higher volumes of solar panels. This succeeded in dramatically bringing down costs, but pushed manufacturers deep into the red when prices plummeted. After a shakeout, many of the companies left standing are returning to profit. Costs continue to decline, and finally demand is catching up with supply.

China’s biggest solar makers recently announced much improved financial performance. Yingli Solar, the world’s largest supplier of solar modules, expects to reach profitability by the third quarter of this year. Its peers, Trina Solar Ltd. and JinkoSolar Holding Co. also laid out higher production and profits for the year. JA Solar reported its first quarterly profit in over two years.

Across the world an estimated 37.5 gigawatts of solar were installed in 2013, a 22% increase from the year before. Analysts expect the global solar market to expand by an additional 39% this year. Much of that demand is expected to come from China, which has long been a massive supplier, but not the biggest market for solar. China surpassed Germany last year to become the world’s largest solar market, and may install as much as 14 GW of solar in 2014.

Related Article: French Utility Reports $13Billion Loss over Solar, Wind Subsidies

Growth for the solar market has shifted decidedly to Asia after years of being led by Europe. Germany is reducing subsidies for solar, and many other European countries have already done so. China, dealing with air pollution, is boosting support for solar. And Japan, trying to find capacity replacements for its shuttered nuclear power plants has implemented one of the most generous feed-in-tariffs in the world.

In the U.S., solar energy is also growing quickly. One of the interesting trends is shift towards rooftop solar and away from large-scale utility projects. For years, the latter drove the market, but future growth is expected to come predominantly from the residential consumers, particularly with innovative financing programs pioneered by companies like SolarCity.

By Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News