Barnsley to launch landmark solar energy initiative

In the wake of the completion of the Grand Renewable Solar Project, the Mississauga-based company was disappointed to learn that after almost a year of assessments, Hamilton city council rejected its proposal for the Mountsberg Solar Project in Flamborough, Ont.

The cost-cutting measures have been prompted by the rising cost of government support for green energy.

Geoff Mirkin climbs up to the top of a small, unassuming building in Elkridge, Maryland – about 50 kilometers outside of Washington – and points to the solar panels that line the roof.

Jiang Likai, deputy general manager of Solar Energy Technology Co, a unit of the State-run China Energy Conservation and Environmental Protection Group, said emerging markets such as Pakistan and Chile are the new targets for Chinese solar product makers, particularly countries along the Belt and Road Initiative in Asia, Africa and Europe, as exports to the traditional markets have been hit by trade disputes.

In June, the government closed the renewables obligation (RO), which funds medium and larger installations, a year early on 1 April 2016.

Energy Secretary Ernest Moniz told reporters Monday that the price of solar has fallen so dramatically that the market can now grow without subsidies.

In addition, a wider FiT review by DECC is scheduled to take place later this summer with the likelihood of further changes to the scheme to cut its costs.

Now, there is a chance that the Chinese government could tighten its purse strings for renewable subsidies, as the economy transitions into a slower growth phase.

The second, and many ways more important, flaw in the government’s proposal is the way it fits into a clean energy strategy that looks like it is about to collapse under the weight of its logical inconsistencies.

This might be grounds for celebration were it not for fears of the effect on energy bills, especially since generating electricity from solar panels is, at least at present, a relatively expensive way of reducing carbon emissions. Many policy and regulatory issues have to be worked out for a smooth transition.

Some of the large Chinese solar players that recently published Q2 earnings actually increased their fiscal 2015 shipment guidance – Jinko Solar and Trina Solar raised their midpoint guidance by 20% and 11%, respectively – citing higher demand from the Chinese market as one of the reasons. “A review is long overdue”. That power is beginning to expand out into decentralized networks of solar panels, wind turbines, and energy storage sites across the country. Firstly, the Chinese Central Bank’s recent move to devalue the Yuan will prove beneficial to most tier-1 Chinese players such as Trina Solar and Yingli Green Energy, since they incur a substantial portion of their costs in Yuan, while about two-thirds of their revenues and contracts are denominated in foreign currencies.

The solar installers have teamed with representatives of the religious community to continue making their case that without the tax credit, the companies will lose out on hundreds of installation jobs – and millions of dollars in revenue. While the amount of power may not be as significant under these weather conditions, it is still usable power and can be stored just like the power gathered on sunny days. For example, Trina Solar noted that the price of polysilicon and other commodities fell by roughly 10% over the second quarter. “But here in the UK, the government appears to be trying to shut solar down”. With all of this said, it is hard to definitively predict how the current turmoil will pan out for Chinese solar stocks. It has also announced $24 million for early-stage research into technologies that would double the amount of energy each solar panel can produce from the Sunday.