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<ul class="summary-list"><li>China just issued draft regulations to rein in solar cell production.</li><li>This shows Beijing knows and is concerned about industrial overcapacity.</li></ul>China and the West are in disagreement over claims that the East Asian giant is <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-overcapacity-dumping-manufacturing-exports-economic-woes-world-yellen-2024-4">producing too much stuff</a> and depressing global prices.<a target="_blank" rel=" nofollow" href="https://english.news.cn/europe/20240507/0606e58b4cec4bb5ac749eacbda8d567/c.html">China has pushed back</a> against this notion, saying the West is trying to contain its economic growth.But Beijing recently released a new set of draft rules that show China knows and is concerned about overcapacity too — specifically in solar cell production.On Tuesday, China's industry ministry released new <a target="_blank" class="" href="https://www.miit.gov.cn/jgsj/dzs/gzdt/art/2024/art_16a86cc6229d4cf8b52c54dd01df7a74.html">draft regulation</a> to promote "high-quality development" in the industry. The draft rules are open for public consultation until Monday.The ministry did not explicitly target excess capacity but said in its proposal that it aims to guide solar cell companies to reduce manufacturing projects that "simply expand production capacity" while improving innovation, production, quality, and reducing production costs.China's industry ministry is looking to increase the ratio of capital that shareholders must invest in projects. This could limit the speed of industry expansion and curb overproduction.The new rules come as the solar industry deals with a glut of panels following years of breakneck growth. The sector is one key pillar of the country's <a target="_blank" rel="" href="https://www.businessinsider.com/china-economy-new-growth-areas-electric-vehicles-batteries-solar-property-2024-1">"new three" economic drivers,</a> so Beijing would want it to be sustainable.<h2 id="6cb67844-d629-4984-8a27-fc784059e960">China is producing more solar panels than the world can absorb</h2>As it stands, <a target="_blank" class="" href="https://www.businessinsider.com/china-solar-panel-supply-overcapacity-power-grid-demand-support-energy-2024-5">China is producing way more</a> solar panels than its power grid can handle. There's such a huge glut of solar panels worldwide that some people are using them as <a target="_blank" class="" href="https://www.businessinsider.com/china-flood-solar-panel-cell-market-garden-fence-overcapacity-yellen-2024-4">garden fencing.</a>China's solar module manufacturing capacity nearly tripled in 2022 alone before gaining another 84% in 2023, commodities consultancy Wood Mackenzie wrote in a report in April.Ed Crooks, the vice-chairman of energy at Wood Mackenzie, called the surge "most dramatic."Last year, China — the world's largest solar energy producer — installed fewer panels than it produced, per Wood Mackenzie.The oversupply caused a plunge in solar cell prices that even Chinese manufacturers are up in arms about.In May, the China Photovoltaic Industry Association called for more mergers and acquisitions, as well as restrictions on domestic competition to control capacity.On Monday, Longi, a major Chinese solar maker, said in a <a target="_blank" rel="noopener" class="media-ui-Link_link-tVkXhPLPofs-" href="https://sns.sseinfo.com/resources/images/upload/202407/202407051955023663989150.pdf">stock filing</a> that 2024 will be a "difficult year" for the company and industry. The company laid off thousands of workers earlier this year."The entire industry does not have the ability to support further price declines in the short term," Longi said on Monday.

China basically just admitted it's also concerned about solar panel overcapacity

<div type="image" title="One Planet Banner Test" height="138" width="1100" msid="108470190" hostid="261" sizebytes="5076"></div>When Robert Howey joined the US Navy right after high school, he didn't expect to return home anytime soon.Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." If he'd stayed in the area, he likely would have pursued a career in the carpet industry."That's one of the reasons why I wanted to leave," Howey told Business Insider.Howey spent four years as an aerographer's mate analyzing the conditions above and below the ocean. But after being stationed in Japan during the Fukushima earthquake in 2016, he realized the military wasn't his long-term career.He missed home and moved back to Dalton, where a job in carpet manufacturing was indeed the best-paying option. That was until 2018, when Howey heard about a new company moving into Dalton. A local staffing agency was recruiting for Qcells, a solar-panel manufacturing company owned by the South Korean conglomerate Hanwha Group."I didn't even know what a solar panel was," Howey, now a master training coordinator at Qcells, said. "In the beginning, it was just about getting a job where I could grow. Now I believe in the mission of completely clean energy."Howey is among the 1,800 employees Qcells has hired since opening a solar assembly plant in 2019. The company finished an expansion in October, and it plans to open another factory in Cartersville, about an hour south of Dalton, to make smaller parts of solar panels, including ingots, wafers, and cells. Those parts are currently being imported from South Korea and Malaysia.<div type="image" title="An employee at Qcells inspects a solar panel on the factory floor." height="3024" width="4032" msid="108470191" hostid="261" sizebytes="1120990"></div>Qcells is part of a broader transformation of Georgia's economy into a renewable-energy manufacturing hub, accelerated by tax breaks in the <a target="_blank" href="https://www.businessinsider.com/read-heres-whats-in-the-manchin-deal-for-bidens-agenda-2022-7">Inflation Reduction Act</a> that President Joe Biden signed in August 2022. Since then, more than $15 billion worth of investment has been announced in the state – the second-largest amount behind North Carolina, <a target="_blank" href="https://e2.org/announcements/">according to E2</a>, a nonpartisan business group that advocates climate policy. Most of the money is for new battery plants to supply Georgia's growing <a target="_blank" href="https://www.businessinsider.com/electric-vehicles-ev-industry-only-sector-meet-climate-goals-2023-11">electric-vehicle sector</a>, while about $2.6 billion is set to go toward solar manufacturing, led by Qcells. E2 has estimated the projects could create 15,400 jobs statewide.All the activity has made Georgia a key testing ground for the <a target="_blank" href="https://www.businessinsider.com/biden-laws-us-infrastructure-invest-funding-2024-3">Biden administration's promise</a> that tackling the climate crisis would create <a target="_blank" href="https://www.businessinsider.com/climate-jobs-career-grow-pay-well-high-salary-2024">good-paying jobs</a> and help reshore American manufacturing. Though companies have announced billions of dollars' worth of investments, efforts to build a domestic supply chain of solar panels and electric vehicles are still in their infancy and face stiff competition from China.<h2>Aggressive recruitment</h2>Experts in economic and workforce development say it's no accident this <a target="_blank" href="https://www.businessinsider.com/jobs-climate-manufacturing-work-best-places-georgia-carolinas-2024-1">manufacturing is taking off in Georgia</a>.Bob Keefe, the executive director of E2, said southeastern states view economic development as "a blood sport." Attracting new companies is a priority for leaders in Georgia, North Carolina, and South Carolina, and the states typically offer generous tax breaks.Keefe added that land and labor in the Southeast tend to be more affordable, in part because few workers are unionized. Many workers are also already skilled in manufacturing.Beyond Qcells, the German auto-parts maker Gedia opened a factory in Dalton to supply the burgeoning EV industry in Georgia and the broader Southeast. In nearby Cartersville, two South Korean conglomerates, SK On and Hyundai, are building a battery plant to supply the electric vehicles Hyundai plans to assemble at a massive new complex in Savannah; both sites are expected to open in 2025. India's Rayzon Solar, which makes solar panels, chose Atlanta for its first US factory. SolarCycle, <a target="_blank" href="https://www.businessinsider.com/climate-action-30-global-leaders-climate-solutions-2023-11#pablo-ribeiro-dias-cofounder-and-cto-solarcycle-19">which reclaims old solar panels</a> to make new ones, in February announced plans for a glass factory.<div type="image" title="SK On and Hyundai's battery factory under construction in Cartersville, Georgia." height="1660" width="3590" msid="108470192" hostid="261" sizebytes="324146"></div>Pat Wilson, the commissioner of the Georgia Department of Economic Development, told BI that recruiting solar and electric-vehicle companies was strategic. Wilson said that on a trip to Germany his department organized with Gov. Brian Kemp shortly after he took office in 2019, executives they met with at <a target="_blank" href="https://www.businessinsider.com/porsche-unveils-mission-x-new-electric-hypercar-ev-electric-vehicle-2023-6">Porsche</a> and <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-ev-2030-electric-car-market-trends-2024-2">Mercedes-Benz</a> talked at length about electric vehicles.Qcells had already selected Dalton for its new solar-panel factory by the time Kemp was elected. Wilson said that was partly because of Georgia's decadeslong business relationship with South Korea, where the state established an office in 1985.Wilson said he met with SK On's officials several times before it looked to open a battery factory in the Southeast. SK On opened two battery plants in Commerce, Georgia, in 2018 and hired some 3,000 workers, though it <a target="_blank" href="https://www.ft.com/content/9453dc6b-be15-4a54-8e26-fffdc7a3c9eb">recently laid off</a> more than 100 employees as automakers slowed EV investments, the Financial Times reported.Beyond the ties to South Korean conglomerates, Georgia invests more than $100 million dollars a year in workforce training, budget documents show. A state-funded program known as Quick Start can be tailored to the technical skills companies are looking for and offered for free to workers. Georgia's network of 22 technical colleges also partners with local companies to prepare students for work.Heidi Popham, the president of Georgia Northwestern Technical College, said the state agency that oversees that network of technical colleges developed an electric-vehicle-technician certificate, given the massive growth of that industry. She expects her college will offer that certification soon."The students in our automotive-technician program that work on the vehicles will have to have those skills," Popham told BI.<h2>China looms large</h2>Georgia's strategy in recruitment and workforce development is only part of the reason for the boom in renewable-energy-technology companies.In 2018, President Donald Trump <a target="_blank" href="https://www.businessinsider.com/trump-solar-tariffs-solar-panels-thousands-of-job-losses-2018-1">slapped tariffs on imports</a> of solar panels and cells, with the goal of helping US manufacturers compete with cheaper imports from China and Southeast Asia. The tariffs were requested by two American companies, including Suniva, which had once been the fastest-growing solar company in the US before filing for bankruptcy protection in 2017.Foreign companies shipping to the US, including Hanwha, were forced to reevaluate their supply chains."We have factories in Korea and Malaysia that were impacted by that duty," said Scott Moskowitz, the director of strategy and market intelligence at Qcells. "The US was our largest market, and we had long wanted to build a factory here. But that trade policy jump-started us making the investment."Qcells' latest expansion plans were buoyed by the Inflation Reduction Act. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US.Those subsidies could increase if companies use what's known as domestic content: components of those technologies that are also sourced from the US. The Treasury Department is still working on final guidance for which components would qualify. An initial draft covers solar modules and cells but not wafers and polysilicon. In February, a dozen senators, including Sen. Jon Ossoff of Georgia, <a target="_blank" href="https://www.ossoff.senate.gov/wp-content/uploads/2024/02/24.02.28_Sen.-Ossoff-Domestic-Content.pdf">asked the Biden administration</a> to include wafers and polysilicon to help reshore more of the solar-panel supply chain.That change would benefit Qcells. Its parent company, Hanwha, invested in a <a target="_blank" href="https://www.kedglobal.com/energy/newsView/ked202311160013">polysilicon factory in Washington state</a>, reviving operations after a nearly five-year hiatus.Moskowitz said that though the law has spurred the most investment in US manufacturing in decades, these renewable supply chains still face headwinds, primarily from China. He added that China had compensated for its cratering <a target="_blank" href="https://www.businessinsider.com/china-economy-crash-real-estate-collapse-property-market-evergrande-bass-2024-2">real-estate sector</a> by rapidly investing in export-oriented manufacturing inside and outside its borders.According to BloombergNEF, China spent $676 billion on the green-energy transition in 2023, while the US spent $303 billion. The year prior, China spent $546 billion while the US spent $141 billion.As a result, <a target="_blank" href="https://www.businessinsider.com/renewable-energy-how-much-added-wind-solar-evs-2023-12">China dominates the renewable-energy supply chain</a>, from metals to polysilicon to solar components to batteries. The investment has also led to a global oversupply of solar panels and components that's sent prices plunging, and it's made <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2#:~:text=BYD%20eclipsed%20Tesla%20in%202023,on%20threats%20from%20Chinese%20automakers.">China a major player in the EV market</a>.While the US doesn't import solar panels directly from China, the Biden administration <a target="_blank" href="https://www.commerce.gov/news/press-releases/2023/08/department-commerce-issues-final-determination-circumvention-inquiries">last year determined</a> that certain Chinese companies were shipping products through Southeast Asian countries like Malaysia and Vietnam. This allowed those companies to avoid tariffs, which the administration had waived for two years, through June 2024. According to S&amp;P Global, the US imported <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/extreme-dependence-us-solar-panel-imports-boom-to-record-54-gw-in-2023-80448513">more than two-thirds of its solar panels</a> from Southeast Asia last year.The moves reflect the delicate balance the White House is trying to strike between meeting its climate and renewable-energy goals — which rely on imports — and bolstering a domestic manufacturing base.Moskowitz said that despite the difficult market conditions, Qcells was committed to its US expansion plans. The tax breaks in the Inflation Reduction Act are in effect for 10 years, which he said reduced some risk for the company. Qcells also has an eight-year supply deal with Microsoft, which is building out renewable-energy projects to power its operations.Once the Qcells factory in Cartersville is finished, the company said it will produce about 8.4 gigawatts of solar power capacity a year, or <a target="_blank" href="https://www.seia.org/us-solar-market-insight">about a fourth of what the US installed in 2023</a>.<h2>A new era in the carpet capital</h2>Qcells' arrival in Dalton marked a new era in Whitfield County, which was devastated by the Great Recession. The housing-bubble burst, rippled through the carpet industry, and cost the county <a target="_blank" href="https://www.dailycitizen.news/news/local_news/carbondale-business-park-has-attracted-jobs-and-investment/article_3d4025a4-c81a-11ed-830d-e7ae46616883.html">more than 10,000 jobs.</a> The unemployment rate peaked at about 14% in early 2009 and the county's population, which had steadily grown for decades, plateaued. New housing construction halted.Carl Campbell, the executive director of the Dalton-Whitfield County Joint Development Authority, said that while carpet makers like Shaw Industries and Mohawk Industries survived, <a target="_blank" href="https://fred.stlouisfed.org/series/SMU13191403231400001">the industry never returned to prerecession employment levels</a> because of consolidation and automation.The decline led economic-development officials to try to diversify businesses in the area. Campbell said the local workforce already valued manufacturing because of the community's long history in carpet. This — combined with Dalton's proximity to Interstate 75, a freight-rail depot, and a generous 10-year property-tax abatement — helped close the deal with Qcells.Since Qcells opened its doors in 2019, Whitfield County's population has slowly started increasing, but not nearly as fast as Georgia's overall population, which grew by 1.7% between 2020 and 2022.Jevin Jensen, the chairman of the Whitfield County Board of Commissioners, said part of the problem is a lack of housing. Each day, Jensen said, 30,000 people come to the county for work and then leave to go home."Surely some of those people want to live here but can't find a place they like or a place that's new," Jensen told BI. "We haven't had any new apartments in 20 years."<div type="image" title="Local residents stand outside Dalton Station, a new apartment complex in Dalton, Georgia." height="2841" width="3024" msid="108470193" hostid="261" sizebytes="694042"></div>But a lot can change in a year. Jensen said Dalton would have 1,200 new apartments by the end of 2024. In early February, he attended a ribbon-cutting ceremony at a chic new studio-apartment complex that's close to downtown and designed to appeal to young professionals. Amenities include a gym, a common area with a pool table, and cornhole on the patio.Afterward, Jensen gave BI a driving tour of three other developments around Dalton, including a multifamily apartment complex at an old jail site."The younger generation doesn't want to spend time on a remodel," Jensen said. "They want move-in-ready, mixed-use, with retail and restaurants in one area. We had nothing like that for young professionals."Howey, the Qcells employee, lives about 30 minutes outside the city, in Calhoun. He's noticed the new housing popping up in the area, along with <a target="_blank" href="https://www.businessinsider.com/real-estate-investors-ev-truck-electric-charging-stations-2023-10">EV chargers.</a> When he sees solar panels atop the chargers, he feels pride in his job."We are helping power our vehicles and homes in a way that isn't going to kill our planet," Howey said.He's also a father to two stepchildren — he said he's glad they'll have more job opportunities than he did when he graduated."I think the <a target="_blank" href="https://www.businessinsider.com/solar-panel-industry-electricity-generation-us-eia-tariff-prices-trade-2024-2">solar industry</a> has created a whole new atmosphere in the area," he said, "where people want to come here to succeed and move forward."This article is part of "<a target="_blank" rel="" href="https://www.businessinsider.com/category/the-great-transition">The Great Transition</a>," a series covering the big changes across industries that are leading to a more sustainable future. For more climate-action news, visit BI's <a target="_blank" rel="noopener" href="https://www.businessinsider.com/one-planet">One Planet</a> hub.

How Georgia became America's green-manufacturing capital 

<ul class="summary-list"><li>Tariffs are back on cheap solar products coming from Southeast Asia.</li><li>The duties were paused to ensure US access to solar, but caused a supply glut.</li></ul>Tariffs are finally in play on cheap solar imports from Asia after a two-year moratorium on the restrictions expired on Thursday.The renewal of these taxes, which target Chinese-affiliated solar products exported from Southeast Asia, is an early step in leveling the playing field for US manufacturers, one analyst told Business Insider.The end of the moratorium should ease price volatility, bringing "a level of stability to the marketplace that, frankly, it's good for developers, it's good for producers, it's good for everybody," Mike Carr, executive director of the Solar Energy Manufacturers of America, said.In 2023, the Department of Commerce <a target="_blank" href="https://www.whitecase.com/insight-alert/us-department-commerce-determines-imports-southeast-asia-are-circumventing-addcvd">determined</a> that Chinese solar was making its way into the US duty-free, despite tariffs on imports from the country. Instead, Chinese producers would route their modules through Southeast Asia, which traded freely with the US.To close the loophole, the department issued tariffs on these regions as well. But their impact has never been felt, given a pre-emptive pause on the legislation, which just expired.Behind the tariff moratorium were White House concerns that the restrictions could hinder US energy transition, as domestic solar production was still nascent.But this gave way to a flood of cheap imports, causing solar prices to crater last year.In Carr's telling, that's because Southeast Asian producers never stopped manufacturing despite pausing trade during the department's investigation. Once the pause on tariffs took effect, the region unloaded, causing the massive supply glut."The level of imports far exceeded what was happening before the moratorium was put in place, and it just absolutely flooded our markets as well to an unprecedented level," Carr said. "And so when that happened, that created just massive uncertainty around pricing going forward in our market, as prices continued to fall. And so it did have an effect of killing some of the investment."In one extreme, the oversupply of <a target="_blank" href="https://markets.businessinsider.com/news/stocks/solar-panel-price-cut-oversupply-us-renewable-energy-market-demand-2024-1">solar panels cause global pricing to drop by half</a> last year, with China driving the flood of supply. Meanwhile, solar shipments from Southeast Asian producers have not slowed, and accounted for 87.5% of US module imports in the first quarter, <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-solar-panel-imports-near-record-levels-as-trade-probe-proceeds-81835205">S&amp;P Global</a> said.The tariffs could eventually bring upside for US producers, and Carr indicates that a 25%-30% price correction for solar modules could materialize.However, he emphasized that pricing isn't a leading driver of solar deployment, and analysts should not focus too much on prices to measure the industry's performance.Instead, the tariffs could succeed in calming volatility in the market and bringing back needed investment in the space, he said.At the same time, there are other positives for the domestic industry to look forward to, David Feldman of the National Renewable Energy Laboratory told BI. The market could soon see further guidance on tax credits related to the Inflation Reduction Act and trade adjustments to boost US competition.Since the the moratorium was lifted on Thursday, two major Chinese solar companies announced suspensions in Southeast Asian facilities, <a target="_blank" href="https://www.reuters.com/sustainability/climate-energy/chinas-longi-says-some-southeast-asia-plants-reported-closed-by-media-are-still-2024-06-07/">Reuters</a> reported, as analysts expect import volumes to slow.Meanwhile, US producers are calling for more protections, with a coalition of manufacturers petitioning the Commerce Department to <a target="_blank" href="https://www.cnbc.com/2024/04/24/solar-manufacturers-petition-us-to-impose-tariffs-on-some-imports.html">impose more tariffs</a>.

US solar producers could finally have a fighting chance as tariffs kick in on cheaper imports from Asia

<ul class="summary-list"><li>Global solar panel prices have crashed by 50% as China has flooded the market with modules.</li><li>But US prices saw a much smaller decline, given barriers to its trade with China.</li></ul>A massive pileup of solar panels last year has halved the average price of the modules, as China's blowout manufacturing sent supply soaring. According to the International Energy Agency, the country is on track to account for 85% of global solar-module manufacturing by 2028. Its output has been so strong that it recently <a href="https://markets.businessinsider.com/news/stocks/solar-panel-oversupply-price-crash-europe-production-plant-meyer-burger-2024-1?utm_source=twitter&amp;utm_campaign=markets-sf&amp;utm_medium=social">forced the closure</a> of one of Europe's largest solar production plants, while fueling a <a href="https://markets.businessinsider.com/news/commodities/solar-panel-oversupply-prices-iea-renewables-production-green-transitions-inventory-2024-1?mrfhud=true">panel supply glut</a> that has yet to be unwound."Prices in Europe have significantly cratered, because of that oversupply and stockpiling," David Feldman of the National Renewable Energy Laboratory told Business Insider. "In the US, it's a different story."Instead, the US solar market has largely stayed insulated from the supply flood, with less than 0.1% of module imports coming from China. Between the first and third quarter last year, US modules depreciated by only 10%-15%, Wood Mackenzie reported in December.That's as US legislation effectively bars solar panel trade with China. Restrictions include tariffs, as well as the US <a href="https://www.businessinsider.com/congress-passes-ban-on-all-imports-from-chinas-xinjiang-2021-12">Uyghur Forced Labor Prevention Act</a> (UFLPA), a 2022 law that prohibits imports from China's Xinjiang region. Still, some of the domestic depreciation was a result of the ripple effects from China's output, Feldman said. Some Chinese companies have set up manufacturing in other parts of Southeast Asia, allowing them some access to American markets.But for the most part, US price declines and stockpiling result from internal changes. There was indeed some level of oversupply, as the enactment of UFLPA and other trade barriers with China created supply crunch worries."There were just concerns about installers getting panels," Feldman said. "So developers and installers were working to sort of get a good supply chain, and there was potentially a little bit of an overwhelm."Meanwhile, demand has generally jumped, incentivized by the Inflation Reduction Act and the technology's increasing efficiency and cheapness.But the pipeline for new projects has slowed considerably, Feldman said. On a national level, demand for solar has been dampened by higher interest rates, and debt financing has become much more expensive. As projects are set to run dry in California as well as the Northeast, residential solar installations could decline by 12% this year, Wood Mackenzie estimated.But the research firm expects this to be a singular dip, and for the market to recover by an annual rate of 10% between 2025 and 2028."[Analysts] are expecting significant increases, but that said, manufacturing has probably grown more than that. So it might be a few years for demand to catch up with the amount of manufacturing that has happened," Feldman said.

An overload of solar panels cut prices in half last year — but not in the US

<keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> has plans to invest USD 75 billion on <keyword id="1874332" type="General" weightage="20" keywordseo="energy-transition" source="Orion">energy transition</keyword> initiatives by 2030, its chairman Gautam Adani said on Wednesday. The <keyword id="6362476" type="General" weightage="20" keywordseo="investments" source="Orion">investments</keyword> will boost the group's vision to have 45 gigawatt of <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> capacity by 2030, Adani said in a statement. "We are committed to largescale renewables, developing an indigenous fully integrated <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword> ecosystem and green hydrogen solutions. At the Adani portfolio level, a total investment of USD 75 billion by 2030 on our energy transition initiatives will further our vision to have 45 GW renewable energy capacity by 2030 and strengthen the pivotal role played by AGEL in India's glide path to decarbonization," the group chairman said. The investments will be executed through <keyword id="3179546" type="General" weightage="20" keywordseo="adani-green-energy" source="Orion">Adani Green Energy</keyword> Limited (AGEL). AGEL has emerged as the second-largest global solar PV developer in the US-based Mercom Capital Group's latest annual global report. "The company's outstanding performance and contribution to the renewable energy landscape have earned it the prestigious second rank among the world's foremost solar PV developers," the statement said. It has an operating renewable portfolio of 8.4 GW, the largest in India, spread across 12 states, offsetting over 41 million tonne of CO2 emissions cumulatively.

Adani Group to invest USD 75 bn to scale up AGEL's RE portfolio to 45 GW: Gautam Adani

Mumbai, May 10 () The supply disruption from China due to the COVID-19 pandemic and subsequent decline in domestic solar capacity addition offer a golden opportunity to ramp up local manufacturing of solar modules and cells, according to industry experts.However, the industry feels there is an urgent need for a national vision policy for local solar modules manufacturing as well as ancillary products, in line of solar power generation target of 100 gw by 2022 under National Solar Mission.Till 2011, India controlled 70-80 per cent of global supplies of solar modules, but today the opposite is the case, as 80-90 per cent of modules are imported, as domestic modules are not cost-effective."The COVID pandemic is a wake-up call for us. We must focus on domestic manufacturing but for that to happen we need a long-term business proposition."We've world-class technology, but we don't have scale like China. For manufacturing to succeed, we need a policy framework that ensures long term off-takes at sustainable prices," Tata Power Solar managing director and chief executive Ashish Khanna told .Vikram Solar chief executive Saibaba Vutukuri also underlines the need to focus on local manufacturing."The vision of 100 gw solar capacity by 2022 is fantastic and can be achieved. But to meet the target, there is a need to push local manufacturing so that our dependence on imports comes down," Vutukuri said.Noting that till 2011 India was one of the largest exporters of the best-in-class modules, he said with a strong policy push we can reclaim that position again and we need to learn a lesson or two from China in building scale."Realising the huge potential, China changed its focus from generation to manufacturing of solar modules and set up large plants that offered them economies of scale, helping it lower the cost and capture global market," he said.Chinese government also helped companies with heavy subsidies, which helped them kill competition without much efforts and capture markets that were dominated by India till then, Vutukuri added.Currently, India has an installed solar generation capacity of 34 gw, while the installed module capacity is only 10-11 gw.Domestic manufacturers, including Bhel, Tata Solar, Moser Baer, Indosolar and Lanco, were the pioneers of the industry. However, over the years, due to stiff competition from China some of them could not sustain and some of them are fighting bankruptcy now.New &amp; Renewable Energy secretary Anand Kumar recently called for increased domestic manufacturing capacity to ensure energy security."Till now we've been manufacturing cells, modules, ingots and wafers. But now, we need to go beyond and start manufacturing other ancillary equipment like back-sheets, glass, inverters, transformers, cables etc so that we have an entire manufacturing ecosystem for renewable energy," Kumar had said.To offer a level-playing field to domestic manufacturers, the government had slapped safeguard duty on imports in 2018 and the Directorate General of Foreign Trade is now looking at whether to continue with the duty or not after July, when the high duty regime is supposed to end.The Budget 2021 has imposed a 20 per cent basic customs duty on imported solar cells and modules. But, industry leaders say there is no clarity new customs duty as of now.According to the data from industry tracker Mercom, as of December 2019, Chinese firm Trina Solar was the leading module supplier in India in terms of volume.Chinese firm GCL System Integration Technology is reportedly planning a 60-gw module factory at Hefei in the Anhui province, adding 15 gw each year to 2023."If such plants actually comes up then that will be the biggest challenge for us. If they start dumping this capacity into our market, domestic module manufacturing will become unsustainable," Vutukuri said.Many domestic manufacturers are willing to increase their capacities, but all they need is strong support from the government, concludes the Tata Solar chief. PSK BAL

COVID-19 provides opportunities for domestic solar module manufacturing

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="a woman working in the MAS Holdings building" height="4000" width="5333" msid="91109056" hostid="261"></div><ul class="summary-list"><li>MAS Holdings is an <keyword id="11899424" type="UNKNOWN" weightage="60" keywordseo="apparel" source="Orion">apparel</keyword> manufacturer for brands like <keyword id="12062051" type="UNKNOWN" weightage="60" keywordseo="lululemon" source="Orion">Lululemon</keyword> and New Balance in <keyword id="11916313" type="UNKNOWN" weightage="60" keywordseo="sri-lanka" source="Orion">Sri Lanka</keyword>.</li><li>The company committed to reducing greenhouse gas emissions by 25.2% and is already making strides.</li><li>Initiatives so far include generating renewable energy, eliminating waste, and reducing water usage.</li></ul>While the fashion industry emits some <a href="https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/fashion%20on%20climate/fashion-on-climate-full-report.pdf" target="_blank" rel="nofollow noopener sponsored">2 billion metric tons</a> of greenhouse gasses a year, Sri Lanka-based <a href="https://www.masholdings.com/" target="_blank" rel="nofollow noopener sponsored">MAS Holdings</a> is taking action.A manufacturer for big brands like Lululemon, New Balance, and Thinx, the athleisure and intimate apparel purveyor has made major public commitments, like reducing greenhouse gas emissions by 25.2% by 2025. <div type="image" title="headshot of Sid Amalean" height="1462" width="1950" msid="91109057" hostid="261"></div>"We're trying to buck the trend and really be the difference and the change in the industry," Sid Amalean, the head of sustainable business at MAS Holdings, told Insider. In January, the organization launched <a href="https://www.masholdings.com/plan-for-change/" target="_blank" rel="nofollow noopener sponsored">MAS Plan for Change,</a> which outlines goals for improving operations by 2025 in three focus areas: products, lives, and the planet. MAS also signed onto the <a href="https://sciencebasedtargets.org/" target="_blank" rel="nofollow noopener sponsored">Science Based Targets initiative</a> (SBTi), a multi-organization partnership that helps private-sector companies set emissions targets, track progress, and see how they compare to others in their industry.Founded in 1987 and currently employing more than 100,000 people, the manufacturer has facilities in 15 countries, including Kenya and Mexico, and brought in $2 billion in 2018.<div type="image" title="people working in a factory" height="675" width="900" msid="91109058" hostid="261"></div>Amalean said the company is financing the climate-action work through debt, general revenue, and an independent nonprofit, <a href="https://www.masholdings.in/the-foundation/" target="_blank" rel="nofollow noopener sponsored">MAS Foundation for Change</a>, that the company set up in 2022 to fund long-term, large-scale projects with no return on investment, like building a water reservoir at its headquarters. Under its master plan, MAS has also committed to having 85% of its suppliers and all of its joint-venture investments adopt science-based targets. The investment is worthwhile and will build brand equity, resonate with consumers, and help the planet, Amalean added. "Just setting aside the obvious social and environmental reasons to be doing this, even if you're just a 100% business-minded and profit-minded, it still makes sense."Other manufacturers like South Korea-based <a href="https://www.hansoll.com/_ENG/html/csr.html" target="_blank" rel="nofollow noopener sponsored">Hansoll Textile</a> have also pledged to reduce carbon emissions and create more sustainable products by 2030, and more than 130 brands <a href="https://unfccc.int/news/fashion-industry-steps-up-climate-ambition-with-renewed-charter" target="_blank" rel="nofollow noopener sponsored">signed the Fashion Industry Charter for Climate Action</a> to achieve net-zero emissions by 2050.<h2>Making progress on <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> through inclusivity, renewable energy, and waste management</h2><div type="image" title="two women holding a baby between them" height="800" width="1066" msid="91109059" hostid="261"></div>Even before launching the Plan for Change, MAS was dedicated to social and environmental causes, Amalean said. In 2003, they launched <a href="https://www.masholdings.com/plan-for-change/lives-changed-for-good/" target="_blank" rel="nofollow noopener sponsored">Women Go Beyond</a> to address skills gaps for female workers in Sri Lanka and create gender equality in the business. Now 22% of management positions at the company are held by women. Initiatives like these or biodiversity restoration, where there's absolutely no clear revenue source, are considered operational expenditures or a cost of doing business.The company also aims to promote inclusivity, fair wages, and safe workplaces and offers childcare at 20 of its 50 facilities. Generating more renewable energy than it consumes is a central part of its sustainability initiative, and as of December 2021, 57% of the company was running on renewable energy sources.MAS recently completed the first phase of project <a href="https://www.masfabricpark.com/mas-photon.html" target="_blank" rel="nofollow noopener sponsored">Photon</a>, the largest multisite solar rooftop installation in Sri Lanka. It features 48,000 <keyword id="11957104" type="UNKNOWN" weightage="60" keywordseo="solar-panels" source="Orion">solar panels</keyword> spanning one million square feet and generates enough electricity to power 14,000 homes. Amalean said it was funded using 70% debt and 30% private equity investment, totaling about $12 million for 16 megawatts. More phases are in the works, he added.For initiatives like solar projects that have a positive net present value (NPV), it's relatively easy to find financing options, Amalean said. Banks are more willing to lend when there's a clear recurring revenue and associated payback period.<div type="image" title="a man installing solar panels" height="5499" width="7332" msid="91109060" hostid="261"></div>Eliminating waste is another goal. Amalean said MAS monitors and tracks waste at its facilities and strives to divert most of it from landfills. More than 40% of nontoxic, nonhazardous waste materials are recycled, reused, or turned into new resources.MAS has also reduced water usage in <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing" source="Orion">manufacturing</keyword> by 39% through rainwater harvesting, water-free dying processes, and reverse osmosis water filtration to reuse wastewater, Amalean added.<h2>Promoting accountability in the supply chain and measuring success</h2>In 2021, MAS generated 21% of its revenue from sustainable projects — the goal is 50% by 2025. Amalean said the company is also focused on sourcing recycled, organic, natural, and responsibly-sourced raw materials, making its design and manufacturing processes more efficient, and using post-consumer waste to create new products. Additionally, MAS is requiring suppliers to comply with the <a href="https://www.roadmaptozero.com/about?locale=en" target="_blank" rel="nofollow noopener sponsored">Zero Discharge of Hazardous Chemicals</a> program, a fashion industry initiative to eliminate harmful chemicals from the supply chain. Suppliers are "strongly encouraged" to sign up for the <a href="https://apparelcoalition.org/the-higg-index/" target="_blank" rel="nofollow noopener sponsored">Higg Facility Environmental Module</a> assessment, Amalean said, and MAS tracks suppliers' progress using FEM and other tools, including <a href="https://www.cleanchain.com/about-us/" target="_blank" rel="nofollow noopener sponsored">CleanChain</a> and <a href="https://www.scivera.com/" target="_blank" rel="nofollow noopener sponsored">Scivera</a>. MAS's sustainable business team of about 15 works companywide to ensure its own planet-focused progress, Amalean said, and uses a customized calibration tool to track how each facility is meeting environmental targets. Different facilities are at different stages, he added.While Amalean's team leads the company's climate-action initiatives, everyone in every department has sustainability goals. "Everybody's thinking about it and motivated to be sustainable," he said. "Otherwise, we get into silos and it's like, 'Oh, the sustainability team over there, they want us to do things.' There's no they and him and her. Everybody's doing this together."

How a Sri Lanka-based apparel manufacturer for brands like Lululemon is incorporating and funding sustainability initiatives

AdGreen Energy (<keyword id="4621631" type="General" weightage="80" keywordseo="agel" source="Orion">AGEL</keyword>), the renewables arm of the Adani Group, on Friday announced that its fourth wind-solar hybrid power plant at Jaisalmer in Rajasthan is fully operational and the asset has been capitalised. The combined operational generation capacity of this newly added hybrid power plant is 700 MW and has a power purchase agreement (PPA) at Rs 3.24/kwh for 25 years, according to a statement from the firm released on Friday. This new hybrid power plant consists of a combination of 600 MW solar and 510 MW wind plants. The company said its latest hybrid plant deploys advanced renewable technologies like bifacial solar PV modules and horizontal single-axis trackers (HSAT) systems to enable maximum electricity generation from solar energy. A bifacial panel can generate power from both sides, boosting overall electricity production. The plant is co-located and is designed to deliver capacity utilisation factor (CUF) of minimum 50 per cent, the highest CUF of any renewable project in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The firm said the plant harnesses the potential of renewable energy by resolving intermittency of the generation and provides a more reliable solution to meet the rising power demand. With this, AGEL's operating wind-solar hybrid portfolio has now reached 2,140 MW, continuing to be the largest in the world, according to the company statement. With the successful operationalisation of the 700 MW plant, the world's largest wind-solar hybrid power plant, AGEL now has the largest operating renewable portfolio in India with 8,024 MW, <keyword id="4343578" type="General" weightage="100" keywordseo="adani-green" source="Orion">Adani Green</keyword> said on Friday. The plant is housed under AGEL's 100 per cent subsidiary -- Adani Hybrid Energy Jaisalmer Four Limited. "Earlier in May 2022, AGEL had operationalised India's first hybrid power plant of 390 MW," Adani Green said in the statement, adding that this was followed by the commissioning of the world's largest co-located hybrid power plant of 600 MW in September 2022 and the third hybrid power plant of 450 MW in December 2022. "All three of these hybrid energy generation assets are located in Jaisalmer, Rajasthan." Adani Green Energy (AGEL) has one of the largest global renewable portfolios with the overall portfolio of 20.4 GW including operating, under-construction and awarded projects catering to investment-grade counterparties. The company develops, builds, owns, operates and maintains utility-scale grid-connected solar and wind farm projects. Key customers of AGEL include <keyword id="1937268" type="General" weightage="50" keywordseo="solar-energy-corporation-of-india" source="Orion">Solar Energy Corporation of India</keyword> (SECI), National Thermal Power Corporation (NTPC) and various State Discoms. AGEL, a renewable energy generation company, which was listed in 2018, is helping India meet its COP26 goals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/revealed-first-glimpse-of-indias-c-295-aircraft-that-airbus-and-tatas-will-co-produce/articleshow/98384456.cms">Revealed: First glimpse of India's C-295 aircraft that Airbus and Tatas will co-produce</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a>

Adani Green says its operating renewable portfolio reaches 8,024 MW, largest in India

<ul class="summary-list"><li>First Solar's strong third-quarter earnings sent its stock price as high as 17% in early trading on Wednesday.</li><li>The solar-panel maker posted a rise of nearly 70% in sales during the quarter, allowing it to reinstate full-year guidance that it previously withdrew because of uncertainty related to the severity and duration of the COVID-19 pandemic.</li><li>For 2020, the company said it expects to earn between $2.6 billion to $2.9 billion, as its productive capacity has been averaging over 100% at all of its factories.</li><li>First Solar shares have gained about 54% this year.</li></ul><a href="https://markets.businessinsider.com/stocks/fslr-stock">First Solar</a> shares surged as much as 17% in early trading on Wednesday after posting a massive jump in <a href="https://www.globenewswire.com/news-release/2020/10/27/2115488/0/en/First-Solar-Inc-Announces-Third-Quarter-2020-Financial-Results.html">third-quarter sales</a>.The solar-panel manufacturer said its sales rose 70% year-on-year in the quarter, and brought back its full-year guidance that was previously withdrawn to account for coronavirus-related uncertainty."The dedication we continue to witness from our associates enabled us to expand module segment gross margin, close the sales of our Ishikawa, Miyagi, and Anamizu projects in Japan, and increase earnings per share quarter-over-quarter," Mark Widmar, First Solar's CEO, said in a statement.The Arizona-based company earned a revenue of $928 million, or $1.45 a share, in the third-quarter, up from $546.8 million, or 29 cents a share, in the same period last year. For 2020, First Solar expects to deliver net sales in the range of $2.6 billion to $2.9 billion owing to a "strong fleet-wide production" with productive capacity averaging over 100% at all of its factories. Shares in the company are up 54% this year, compared to the S&amp;P 500's 7% gain this year, and was trading around $96 a share on Wednesday.

First Solar surges 17% after the solar-panel manufacturer posts a massive jump in 3rd-quarter sales

New Delhi, Jan 17 () Adani Green Energy and Azure Power have emerged as successful bidders in Solar Energy Corporation of India's first manufacturing-linked solar tender, a top government official said on Friday.
 Adani has bid for 1.5 GW solar cell manufacturing capacity and 6 GW generation capacity, MNRE Secretary Anand Kumar said on the sidelines of India Energy Forum-Renewable Energy Summit here.
 He also said that Azure Power bid for 500 MW solar cell manufacturing capacity and 2 GW generation capacity.
 With the green shoe option, the capacity for Adani would increase to 2 GW of solar cell manufacturing capacity and 8 GW generation capacity, Kumar said.
 For Azure, with green shoe option, it will be 1,000 solar cell manufacturing and 4 GW generation capacity, he added.
 "The bids have been finalised and only paperwork remains," he said adding that the tariff has been fixed at Rs 2.92.
 After successful auction, an investment of around Rs 6,000 crore is expected for setting up 1 GW of solar manufacturing facilities, which would generate permanent direct employment of up to 10,000 people, a source said.
 At present, India imports 95 per cent of its solar module requirement from China, leading to a forex outflow of around USD 10 billion per year. ABI SID ANS
ANS

Adani, Azure top bidders for manufacturing-linked solar tender

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is projected to fall "well short" of its target for 2022 of having 100 gigawatts (GW) of installed solar capacity, largely due to slow uptake of rooftop solar, a new report by JMK Research and the Institute for Energy Economics and Financial Analysis (IEEFA) said on Tuesday. As of December 2021, India's cumulative installed solar capacity was 55GW, with grid-connected utility-scale projects contributing 77 per cent and the balance coming from grid-connected rooftop solar (20 per cent) and mini or micro off-grid projects (three per cent). With just eight months of 2022 remaining, only about 50 per cent of the 100GW target, consisting of 60GW of utility-scale and 40GW of rooftop solar capacity, has been met. Approximately 19GW of solar capacity is expected to be added in 2022 -- 15.8GW from utility-scale and 3.5GW from rooftop solar. "Even with this capacity addition, about 27 per cent of India's 100GW solar target would be unmet," says report co-author <keyword id="5005000" type="General" weightage="50" keywordseo="jyoti-gulia" source="Orion">Jyoti Gulia</keyword>, Founder, JMK Research. The report projects that by December 2022 there will be a 25GW shortfall in the 40GW rooftop solar target, compared to just 1.8GW in the utility-scale solar target. "Utility-scale solar capacity addition is on track. India is set to achieve nearly 97 per cent of its 60GW target," says <keyword id="13598083" type="General" weightage="80" keywordseo="gulia" source="Orion">Gulia</keyword>. "This makes it imperative to have a more concerted effort towards expanding rooftop solar." Headwinds ranging from pandemic-induced supply chain disruption to deeply rooted policy restrictions have impeded the growth of India's rooftop solar (onsite solar power) and open access solar (offsite solar) installations. "The anticipated 27GW shortfall from the 2022 solar target can be attributed to a string of challenges which are slowing overall progress on renewable energy targets," says co-author <keyword id="4412277" type="General" weightage="50" keywordseo="vibhuti-garg" source="Orion">Vibhuti Garg</keyword>, Energy Economist and Lead India, IEEFA. On the current trajectory, the report finds India's solar target of 300GW by 2030 will be off the mark by about 86GW. These challenges include: regulatory roadblocks; net metering limits; the twin burdens of basic customs duty (BCD) on imported cells and modules and issues with the Approved List of Models and Manufacturers (ALMM); unsigned power supply agreements and banking restrictions; financing issues plus delays in or rejection of open access approval grants; and the unpredictability of future open access charges. "Central and state government policies and regulations must be aligned to support the solar sector overall, and especially the ailing rooftop and open access segments of the market," says co-author Akhil Thayillam, Senior Research Associate, JMK Research. The report proposes short- and long-term measures to get India back on track to meet solar targets. The short-term measures include uniform policies to apply nationally for at least the next five years and consistent regulations for net metering and banking facilities, also to apply nationally. In the long-term, stricter enforcement of the renewable purchase obligation and improved financial health, and potentially privatisation, of distribution companies (discoms). In rooftop solar, state-level efforts such as Gujarat's Surya Scheme need to be replicated by other states in the short-term to help in boosting capacity, says Gulia. "It is also likely that the government, in the short-term, will push aggressively for expediting solar capacity addition to achieve the 100GW target by 2022 by re-allocating some of the unmet rooftop target to utility-scale generation." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/koo-founder-invites-elon-musk-after-he-turns-down-twitter-board-seat/articleshow/90780040.cms">Koo cofounder urges Elon Musk to work with Twitter’s rival in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/netflix-introduces-two-thumbs-up-for-shows-and-movies-you-really-really-like-and-want-to-see-more-of/articleshow/90783309.cms">Netflix introduces Two Thumbs Up for shows and movies you really, really like and want to see more of</a>

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