A quick update worthy of a true Thanksgiving. Two new stunning reports on solar energy are demonstrating the rapid transition in world-wide electricity generation.
first involves China (no surprise).
Tongwei will spend $1.8 Billion in the next two years to build two 10 GW
PV manufacturing facilities. What this
means, is that two-three years from now, each of these plants will be putting
on the market the equivalent of TEN nuclear or coal-fired plants. That's 20,000 megawatts of generating
capacity…per year. And the following
year, another 20,000MW; and the year following that another 20,000MW. In ten years, this one company in its two
manufacturing facilities will have built the equivalent of 200 nuclear power
“The investment is part of Tongwei’s plan to achieve 30 GW of cell capacity.
Its current 5.4 GW makes Tongwei the world’s fourth-biggest solar-cell
producer, and the company has an additional 4.3 GW of capacity under
construction. The world’s largest cell
maker, Shanghai-based JA Solar Holdings Co, has an annual capacity of 6.5
GW, and add this to all the manufacturers in Korea, Japan, Germany, and the US,
and there is really no shortage of new generating potential in the world. Of course, the other part of the equation is
storage, and progress is being made in both battery technology, and of course,
my pick…hydrogen/fuel cell for large-scale grid storage.
The second major bombshell comes from the very reputable US investment firm Lazard.