Sector News
Strong global solar market outlook
SolarPower Europe’s 5-year global solar market outlook forecasts 800 GW additions to 1.3 TW total installed capacity by 2023
At Europe’s leading solar trade event Intersolar Europe, SolarPower Europe launched its Global Market Outlook 2019-2023, showing that solar power reached important milestones in 2018, with an even more optimistic picture forecasted for the next five years.
Christian Westermeier, President of SolarPower Europe, said: “2018 was a unique year for the entire global solar industry, as we exceeded the magic installation mark of 100 GW per year for the first time, which led the solar power sector to grow to over 500 GW or 0.5 TW. Last year, we again saw strong cost improvements with solar becoming the lowest-cost power generation source in more and more regions. At the same time, new applications have quickly progressed, such as floating solar, while corporate renewable Power Purchase Agreements have reached a double-digit GW-level, and a market for merchant solar has emerged in several countries.”
A total of 102.4 GW of solar power went on the grid around the world last year. That’s still 4% more than the 98.5 GW installed in 2017 and this is in comparison to two very high-growth years: 2017 and 2016, which had growth rates of around 30% and 50% respectively. The main reason for last year’s slower solar market growth was the contraction of the Chinese market, which, at 44.4 GW, shrunk by 16% compared to its record 52.8 GW in 2017. While other leading solar markets also shrank (India, Japan) or stagnated (US) for various reasons, many new and emerging as well as re-emerging markets more than compensated for this slower growth period of the tier 1 group.
In 2018, 11 countries installed more than 1 GW of solar; that’s two more compared to the nine GW-scale solar markets in 2017. SolarPower Europe’s Medium Scenario estimates that the number will significantly increase to 16 countries in 2019.
Europe as a whole added 11.3 GW in 2018, a 21% increase over the 9.3 GW installed the year before mainly because of the EU’s binding national 2020 targets. In 2019, SolarPower Europe’s Medium Scenario sees demand surge by over 80% to 20.4 GW, and an 18% growth to 24.1 GW in 2020, which would be a new installation record, surpassing the 22.5 GW Europe added in 2011.
Walburga Hemetsberger, CEO of SolarPower Europe commented: “Global solar demand continued to grow last year, as new emerging markets have embraced solar’s attractive business case – a clean, versatile and low-cost power generation source. This market diversification means interest in solar is rising at a rapid pace.” Hemetsberger added: “In Europe, we have entered a new era of solar growth and with the recently concluded Clean Energy Package, we have a new framework for solar that will see our technology thrive even more in the coming years. We now look to EU member states to put ambitious solar targets in place and ensure robust implementation guidelines in their 2030 National Energy and Climate Plans (NECPs).”
On a global level, in its Medium Scenario, SolarPower Europe anticipates that around 128 GW of new PV capacity will be installed in 2019, which would translate into a 25% market growth. This will lead to a cumulative installed capacity of 645 GW, which is about 4% higher than assumed in last year’s Global Market Outlook. The solar TW-level will most likely be exceeded in 2022. The 5-year Global Market Outlook expects that global solar power generation capacities will add nearly 800 GW and reach a total solar power generation capacity of 1.3 TW in 2023.
Michael Schmela, Executive Advisor of SolarPower Europe, said: “Solar is making significant strides and this is very good news for the energy transition. However, we need to quickly accelerate the deployment of solar power to meet the Paris agreement targets. Solar is ready in terms of both technology and affordability for a much greater uptake of our clean energy source to help mitigate the climate crisis.”
According to the International Renewable Energy Agency (IRENA) an average of over 400 GW of renewables have to be installed per year until 2050 to keep temperature rise below 2°C. In 2018, around 180 GW of renewable power capacity was installed.
Sector News
Taliva Energy completes supply and integration of 160 MWh of its 520 MWh Romanian storage portfolio
Turkish integrator Taliva Energy has completed supply and integration of 160 MWh of batteries for its 520 MWh, 32-project storage portfolio in Romania.
Türkiye-based system integrator Taliva Energy has completed the supply and integration of 160 MWh of battery systems for its grid-scale energy storage projects in Romania. The delivery, finalised at the end of September, covers part of a 520 MWh portfolio spanning 32 locations for which the company signed agreements in 2026; Taliva aims to complete supply for the remaining capacity by year-end.
32 projects across Romania
The company’s Romanian portfolio now exceeds 520 MWh across 32 signed projects. Sites include Zorleni, Bălțești, Baba Ana, Mihăești, Gorj and Satu Mare. Taliva acts as a full-scope supplier and system integrator, handling technology selection, battery procurement, logistics, engineering, site integration, commissioning, and operations and maintenance.
Integrated approach from hardware to software
CEO Mario Dalsarfati said that getting batteries to site and turning them into a working system is a critical milestone for any storage investment, and that the company is pursuing its goal of becoming a leading grid-scale project integrator. According to Dalsarfati, Taliva combines procurement with ensuring that battery systems operate in step with power conversion equipment, energy management software and grid requirements, using its own domestically developed software across integration, site and maintenance management.
At the start of each project, Taliva assesses site conditions, grid connection requirements and operating goals to define system capacity and architecture under its Taliva ESS offering. The engineering and manufacturing capabilities of iNOVAT, in which Taliva holds an equity stake, support the technical base for energy storage systems and medium-voltage solutions.
PowerKonnekt EMS at the control layer
Control and optimisation are handled by PowerKonnekt, an energy management system developed by iNOVAT that works with equipment from different manufacturers. The EMS optimises a portfolio of more than 1.5 GWh across nine European countries, including Finland, Italy and Romania. Taliva coordinates system integration and testing, carries out on-site performance verification and commissioning, and supports investors through operation with monitoring, technical support, maintenance and performance optimisation under Taliva O&M.
Next markets: Italy, Poland, Ukraine and Greece
With a 25-person energy team in Türkiye and Romania and more than six years of experience supplying renewable energy products in Europe, Taliva runs its Romanian activities with Turkish engineering and local service teams. Building on this experience, the company is pursuing localisation and market entry in Italy, Poland, Ukraine and Greece, with Eastern Europe and Türkiye as its main growth focus.
Image: Taliva Energy
Sector News
We have surpassed the psychological threshold of 10,000 megawatts in solar energy
As of the end of June, Turkey’s total installed capacity reached 104,800 Megawatts (MW), with solar energy accounting for 10,195 MW. Turkey is among the fastest-growing countries in the solar energy sector in Europe, with solar energy holding a 10% share in the country’s installed capacity. The goal is to increase the solar energy capacity to 52,300 MW by the year 2035.
Mehmet Doğan, a board member of the Energy Industrialists and Business People Association (ENSİA) and the General Manager of HSA Energy, highlighted the importance of establishing licensed solar power plants (GES) in areas far from city centers and lands that have completely lost their agricultural characteristics. He emphasized that energy production and food security are not alternatives to each other.
Doğan pointed out that rooftop solar installations in Turkey are currently well below their potential. He said, “As of June, our country has surpassed the psychological threshold of 10,000 MW in solar energy, and we should applaud this significant achievement. However, we must acknowledge that we still have a long way to go. The potential electricity production from rooftop solar installations alone is at the level of 55,000 MW, which is more than five times the capacity of all the solar plants built so far. We have much untapped potential in our rooftops. Our priority should definitely be rooftop solar installations. All obstacles preventing citizens with the means and capacity from becoming energy producers should be removed. Licensed solar power plants, on the other hand, should be built in areas far from residential areas and lands that have completely lost their agricultural characteristics. It is disheartening to see many power plants built in forested areas and lands used for agriculture. Additionally, we must utilize solar energy in specially designed greenhouses to prevent water waste in agricultural production.”
Mehmet Doğan stressed that solar energy has the highest potential among renewable energy sources in Turkey. According to the National Action Plan, the target is to achieve a total installed capacity of 189,700 MW by 2035, with solar energy accounting for 52,900 MW.
He further stated, “In the next 12 years, investments in solar energy will be more than five times greater than what has been done until now. By 2030, 50% of global electricity demand will be met by renewable energy sources, with solar energy making the most significant contribution. The solar energy capacity will increase by approximately 280 GW annually until 2030, with an average annual growth rate of about 12%. Turkey is preparing for this significant shift in energy with increasing investments in wind energy in recent years. Among our members, there are very strong companies making investments in this field. The least efficient solar region in Turkey has a higher potential than the most efficient region in Germany. While we are just starting to surpass 10,000 MW in solar energy, Germany, with its less efficient solar resources, generates 70,000 MW, which is seven times more than us. In solar energy alone, our potential installed capacity is over 200,000 MW. If we fully utilize this potential, we can generate enough energy to power two Turkeys. Our priority in solar investments should always be rooftop solar installations. The more citizens we attract to become energy producers, the more we will reduce our dependency on foreign energy sources and boost our development.”
Sector News
Turbo Energy, to list its Artificial Intelligence-enabled solar battery technology on NASDAQ
Today, Umbrella Solar Investment, S.A., USI, announced that its wholly owned subsidiary, Turbo Energy, S.A. (Turbo Energy) has applied to the SEC to file a Form F-1 prospectus for a securities offering to certain institutional investors in the United States and other countries ahead of the listing of its shares through ADRs on the National Association of Securities Dealers Automated Quotations (NASDAQ) stock market in New York (USA). The SEC’s approval of the prospectus is expected to be granted in the coming weeks and the market will be informed in accordingly.
Turbo Energy, with registered offices in Valencia, designs, manufactures and markets innovative products for residential, commercial and industrial self-consumption solar PV installations featuring advanced technological solutions.By listing its shares on the main international stock market for tech firms, Turbo Energy’s goal is to implement a growth strategy based on accelerating its product roadmap and extending the features of its Artificial Intelligence algorithmic platform.Turbo Energy is committed to combating climate change by creating value-added solar products with technologies that bring together three areas of major stock market investment: solar energy, lithium-ion battery power storage and AI systems.
In the words of Enrique Selva, CEO of Turbo Energy: “Through Turbo Energy’s NASDAQ listing, we intend to drive the company’s strategic growth to capitalise on the growing market for artificial intelligence applied to renewable energy. We are backed by a 10-year track record of innovation, enabling us to deploy our flagship product SunBox, an all-in- one solar system with strong uptake in the residential, commercial and industrial markets”.
Based on the preliminary non-binding range included in the F-1 prospectus, the offering is envisaged to have a minimum pre-money valuation of USD 125 million and will be open to all types of institutional investors. The formula adopted is through trading of ADRs representing Turbo Energy shares with the support of CITIBANK as custodian bank. A minimum of USD 5 million is expected to be raised.
About Umbrella Solar Investment:
Umbrella Solar Investment leverages the full business potentials of the solar PV value chain, generating renewable electricity through the company IM2 Energía Solar, deploying electric vehicle charging points through IM2 e-mobility and developing cutting-edge equipment for residential solar self-consumption through Turbo Energy.
Umbrella provides answers to the huge challenges posed to society by the serious issues of climate crisis, energy poverty and the transition to a sustainable energy model.
LEGAL NOTICE: A registration statement relating to these Turbo Energy securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these Turbo Energy securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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