Small-scale solar installations in Texas and Florida have been rapidly growing in recent years, the Energy Information Administration (EIA) said on Thursday
FRV and Harmony s first storage development, Holes Bay. Image: Harmony Energy.
Construction has got underway for Renewables developer Fotowatio Renewable Ventures’s (FRV) second battery storage project in the UK, together with partner Harmony Energy.
FRV, owned by Saudi Arabian industry group Abdul Latif Jameel, has deployed hundreds of megawatts of wind and solar projects around the world since 2006, when it built what was then the world’s largest solar plant, a 23MWdc project in Spain. However, the company only began its involvement in battery storage in 2019 with the announcement of its first grid-scale battery project, the 7.5MW / 15MWh Holes Bay project in England.
Solar power is set to boom as costs decline and battery tech makes it more accessible.
Tesla s North American Solar Projects could be worth $250 billion annually in the longer term, the bank said.
Goldman estimate installations will be 60% above Biden s policy aim for 500 million panels in the next 5 years.
The energy transition trade is heating up, and investors are looking tap into those companies and technologies that will power the homes and cities of the future.
Across the board, this has meant significant gains for companies that are focussed on sustainability. For example, shares in Danish wind power provider Orsted have rallied around 300% in the last five years, and Chinese Tesla rival NIO gained over 960% in the last 12 months alone.