The once-in-a-century heat wave is sweeping Europe. The United Kingdom has declared a state of emergency. The temperature in the western French city of Nantes reached 42 degrees Celsius on July 18, setting a new record. Germany set a record for solar photovoltaic power generation on Sunday, and a repeat of that is expected in the coming days amid a harsh heatwave across Western Europe, according to Bloomberg. The news site reported that Germany's solar panel production surpassed 38,174MWh on Sunday and is expected to hit a new high on Tuesday, when it could reach 38,190MWh. This is up from about 32,000MWh on Saturday. According to the European Energy Exchange (EEX), Germany has not generated more than the 35,000MWh mark on a single day in the past year, with the closest point being the European heatwave in March. According to EEX data, at 12 noon on July 18, Germany’s solar energy system power generation peaked at 34,222MWh, below the estimated value of 34,352MWh. A devastating heatwave is currently spreading across western Europe. Wildfires have been reported across much of France and Spain, while the UK looks set to set its record temperature of over 40C on Tuesday. Temperatures in Germany peak on Tuesday or Wednesday, and the warm air will also slow wind power production. That sent electricity prices in Germany to €396.07/MWh ($400.27/MWh), which Bloomberg said was the highest level on the European Power Exchange spot market since March. European power purchase agreement prices have surged a staggering 47% year-on-year as the continent's energy crisis persists, but PPA prices remain "attractive" as wholesale electricity prices remain high. European Q2 solar quotations rose 19.1%! PPA up 47% Germany already has more than a third of the European Union's installed solar capacity, and the recently elected coalition government is committed to accelerating the decarbonization of Germany's power sector while reducing energy imports. In the next decade, Germany will accelerate photovoltaic development.

Global solar PV costs will continue to decline in 2021 as supply chain challenges and rising commodity prices have yet to fully impact project costs. That's the conclusion of a new report from the International Renewable Energy Agency (IRENA). The report shows that the global weighted average levelized cost of electricity (LCOE) of new large-scale ground-mounted PV projects commissioned in 2021 fell by 13% year-on-year to US$0.048/kWh. According to the report, the rapid decline in total installed cost, the increase in capacity factor, and the decline in operation and maintenance costs have driven the cost of solar energy power generation to decline significantly, and economic competitiveness has continued to improve. However, solar panel prices climbed in 2021 after a decade of steady declines due to rising material costs and insufficient supply due to supply chain disruptions. According to the report, crystalline silicon PV module prices in Europe will increase by 4-7% in 2021 compared to 2020. A systemic factor for this increase is the rise in polysilicon prices. Polysilicon prices have jumped sharply in recent weeks. Not all material cost increases translate into equipment prices and project costs, IRENA said. Average solar panels prices could be a fifth higher than in 2020, given material prices and other supply chain pressures for the rest of the year. Despite current supply chain issues, solar and wind projects have relatively short lead times, IRENA said. Solar and wind projects are a "critical link" in countries' efforts to rapidly reduce and eventually phase out fossil fuel use, limit the macroeconomic disruption of fossil fuels, and achieve net-zero emissions. Francesco La Camera, Director General of IRENA, said: "2022 is a stark example of the economic viability of new renewable energy generation. Renewable energy frees economies from the price volatility of fossil fuels and imports. , restraining energy costs and increasing market resilience. This is especially true if today's energy crisis continues." High coal and fossil natural gas prices in 2021 and 2022 will also severely reduce the competitiveness of fossil fuels, making solar and wind more attractive, the study found. On average, the fuel and CO2 costs of existing gas-fired power plants in Europe in 2022 are four to six times the life-cycle cost of new solar PV and onshore wind projects commissioned in 2021. A report by energy giant bp earlier this year predicted that the global LCOE of solar energy could fall by 55% by 2030.

The European and Ukrainian solar industry associations have called for Ukraine's post-war recovery to be based on renewable energy. The association also urged Ukrainian leaders to set a target of at least 50% renewable energy generation by 2030. SolarPower Europe, the Ukrainian Solar Energy Association and the wind energy trade group said that to achieve this, EU and Ukrainian policymakers should establish a technology and investment partnership, as well as a vehicle for "Ukrainian renewable energy" as part of Ukraine's reconstruction. "By removing Europe's and Ukraine's dependence on Russian fossil fuels, Ukraine and the European continent can be freed from the influence of energy as a geopolitical lever," they wrote in a joint statement to the assembly, which was attended by EU Energy Commissioner Kadri Simson , Ukrainian Energy Minister German Galushchenko also attended online. The association calls for the 50 per cent renewable energy target to be achieved through a combination of rooftop and ground-based solar panel, onshore and offshore wind. Artem Semenyshyn, CEO of the Ukrainian Solar Energy Association, said: "We see that solar power supports the resiliency of the Ukrainian grid. Flexible solar reduces the vulnerability of the energy supply to attack. In parts of Ukraine, it is solar that lights up the lights. ."

On July 1, PetroChina's first water surface solar system project, the Daqing Oilfield Spark Water Surface solar system Demonstration Project, was connected to the grid for power generation, which marked the overall acceleration of the integration of Daqing Oilfield's new energy business into the main business. Daqing Oilfield vigorously cultivates new energy and new forms of business, and strives to build a green industrial structure and a low-carbon energy supply system. During the "14th Five-Year Plan" period, it strives to build a green and low-carbon sustainable development demonstration base with a new energy installed capacity of more than 2 million kilowatts. The replacement rate of clean energy is more than 20%. According to Wang Jun, manager of the strategic development department of CNPC, the project uses two water surfaces, with a construction land of 400,000 square meters and an installed capacity of 18.73 megawatts. It only took more than 4 months from the completion of the project to the completion of the project, and the efficient and on-time production was realized. Daqing Oilfield Spark Water Surface Photovoltaic Demonstration Project, as the first water surface solar panel project of PetroChina, has completed the successful exploration of independent design and construction of water surface photovoltaics. The successful commissioning of this project indicates that Daqing Oilfield is implementing the national "dual carbon" goal and the group company's green low In the journey of carbon development, a key step has been taken. This provides a solid technical reserve and beneficial construction experience for the subsequent development of various new solar energy project, and plays a positive role in stimulating and promoting the vigorous development of new energy business in oilfields.

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According to a report by the International Energy Agency (IEA), solar PV will lead Africa in new capacity additions, reaching a total of 125GW by 2030. By 2030, the continent's total installed power generation capacity will almost double, from 260GW at the beginning of the century to 510GW by the end of the decade, 125GW of which will come entirely from solar panel. The Africa Energy Outlook 2022 report estimates that over 40% of total new capacity additions between 2021 and 2030 will come from solar panel. Renewable solar energy system will play an important role in providing new renewable energy capacity, as demand in Africa will increase by 75% by the end of the decade, from 680TWh to 1.180TWh by 2030. In addition, solar PV will surpass hydropower as the number one source of renewable solar energy in terms of total installed capacity, nearly closing the gap with natural gas by 2030, the report said.

By 2030, the global renewable energy capacity will more than double, but almost all top markets will fail to achieve the development and installation target, except China. That's the latest conclusion from consulting firm Fitch Solutions. Unless leading countries expand stockpiles and strengthen policy support, the company warned. Fitch expects non-hydro renewable solar energy generation to more than double from 3,686TWh in 2021 to 7,661TWh in 2031, with installed capacity more than doubling to 2.1TW over the same period. Among them, national government policies and commitments play an important role and are regarded as the core driving force of growth, in addition, the expansion of the international green hydrogen market will also play a supporting role. However, these growth expectations are insufficient to meet the global economy's net-zero target, nor achieve the necessary decarbonization goals. Fitch expects that only mainland China can achieve the target of 1.2TW installed renewable energy capacity by 2030, while other top markets such as the United States, the European Union and India cannot achieve such goals. Fitch pointed to headwinds from a "volatile political environment" in the U.S., arguing that the U.S. will be "far short" of its 2035 goal of a fully clean electricity mix. Renewable energy tenders across Europe are also facing challenges, especially when it comes to permitting renewable energy projects. Meanwhile, India will struggle with "displaced" policies, with Fitch noting that tariffs on solar panels would make imports more expensive.

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