Solar To Add More MW To Global Capacity Than Wind This Year
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Bloomberg New Energy Finance (BNEF) predicts that 33.8 GW of new onshore wind farms, plus 1.7 GW of offshore wind, will be added globally in 2013. This compares with its median forecast of 36.7 GW of new photovoltaic capacity.This year is set to be the first in which PV has added more MW of capacity than wind, BNEF says. In 2012, wind - onshore and offshore - added 46.6 GW, while PV added 30.5 GW - record figures in both cases. But this year, the market analysis firm says, a slowdown in the world’s two largest wind markets, China and the U.S., is opening the way for the rapidly growing PV market to move ahead.
"The dramatic cost reductions in PV, combined with new incentive regimes in Japan and China, are making possible further, strong growth in volumes," says Jenny Chase, head of solar analysis at BNEF. "Europe is a declining market because many countries there are rapidly moving away from incentives, but it will continue to see new PV capacity added."Despite the change in rankings for this year, the maturing sectors of onshore wind and PV will contribute almost equally to the world’s new electricity capacity additions between now and 2030, BNEF says.
It forecasts that wind will expand from 5% of the world’s total installed power generation capacity in 2012 to 17% in 2030. PV, from a lower base of 2% in 2012, will grow to 16% by 2030.Furthermore, after years of oversupply and consolidation, technology suppliers in both sectors may see a move back to profit this year, BNEF says.
California-based Applied Materials Inc. and Japan-based Tokyo Electron Ltd., both manufacturers of photovoltaic, semiconductor and flat-panel display manufacturing equipment, have agreed to merge via an all-stock combination that values the new company at approximately $29 billion. The merger, which has been approved by the boards of directors of both companies, is subject to approval by shareholders and review by regulators. The companies expect the transaction to close in 2014.In its joint announcement, the companies stressed they would focus on opportunities in the semiconductor and display industries.
There was no comment on the future of each company's PV manufacturing equipment business if and when the merger goes into effect.Under the terms of the agreement, Tokyo Electron shareholders will receive 3.25 shares of the new company for every Tokyo Electron share held. Applied Materials shareholders will receive 1 share of the new company for every Applied Materials share held. After the close, Applied Materials shareholders will own approximately 68% of the new company and Tokyo Electron shareholders approximately 32%.The company will have a new name, dual headquarters in Tokyo and Santa Clara, a dual listing on the Tokyo Stock Exchange and the NASDAQ, and will be incorporated in The Netherlands.
Canadian Solar Inc. has launched its Canadian Solar Residential Financing Program that targets the U.S. market. The program is being launched in partnership with Massachusetts-based Admirals Bank.Under the program, customers will be able to borrow up to $40,000 for a residential solar installation, subject to credit approval. The program has a "step down" feature that enables customers to monetize solar tax credits, rebates and other incentives associated with ownership of their system. They can then pay that amount into the principal balance and then re-amortize the loan."We believe there is a great opportunity to leverage our scale to help customers in the U.S. residential market to more easily gain access to necessary financing at attractive rates," says Canadian Solar chairman and CEO Shawn Qu. "We have a very qualified partner in Admirals Bank, as we work to streamline the process for both residential customers and installers"
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