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Global Solar Market To Experience Decline Across A Number Of Regions

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Solar by Acid Pix via Flikr

Asia-Pacific Solar PV Balance of System Market to Decline Considerably to $14.2 Billion by 2020, says GlobalData.

The global solar Photovoltaic (PV) Balance of System (BOS) market is set to experience varying levels of decline across a number of regions over the coming years, with the Asia-Pacific (APAC) region seeing its market depreciate the most, from $27.4 billion in 2015 to $14.2 billion by 2020, according to research and consulting firm GlobalData.

The company’s latest report* states that this decline, which represents a negative Compound Annual Growth Rate (CAGR) of 12.3%, will be primarily due to the continuing decrease in solar PV BOS costs. BOS refers to all of the components of a solar PV system, excluding the modules. The hardware components of BOS include inverters and structures, as well as cabling and transmission equipment.

Prabhanjan Kumar Singh, GlobalData’s Analyst covering Power, explains: “As the solar PV market gained momentum, the optimization in component manufacturing industries led to large-scale manufacturing and reduced costs, including labor and service costs. Although labor rates have been increasing in several countries, with more optimization and standardization of installation procedures, the number of labor hours has been decreasing, influencing the overall BOS cost.”

The BOS cost fell from $1.96 per Watt (W) in 2010 to $0.98 per W in 2015, and with further standardization expected in the structure-manufacturing industry and in installation procedures, GlobalData expects this cost to decrease further to approximately $0.5 per W by 2020.

Despite its significant decline, the APAC market will still maintain its position as the largest region. Its share of the global BOS market is expected to decline from 57% in 2015 to 45% in 2020. This is due to the relative increasing strength of the BOS market in the Americas, with its market share expected to increase from 25% in 2015 to 41% in 2020.

Singh adds: “The solar PV BOS market in the Americas will reach its peak at just over $19.5 billion in 2016 and will decline steeply the following year as investment tax credits to support solar PV deployment expire in the US, which is the biggest market in this region. However, beyond 2017, a gradual fall is expected in market size, due to falling BOS costs and the slow increase in annual capacity additions.”

*Solar PV Balance of System, Update 2016 – Global Market Size, Technology Review, Cost Analysis, and Key Country Analysis to 2020

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

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energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

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Economy

IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”

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IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.

Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.

Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.

Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:

“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.

We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.

There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.

We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”

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