Photovoltaics Summit Offers Industry Update
Democrats in the US Congress are taking up the issue of renewable tax credits again this week after a disappointing few months on the policy front for renewable energy supporters.
The renewable energy industry has been recently frustrated by the failure of the US Congress to extend tax credits for renewable energy projects that are due to expire at the end of 2008. In December 2007, the Senate cut out parts of the energy bill that would have provided $21.5B in renewable incentives and would have created a national renewable energy standard. Last week the Senate missed another opportunity to extend the renewable tax credits when they passed the economic stimulus package.
Lack of action on the federal level, however, has not stopped forward progress in California where a new feed-in-tariff was approved on January 31.
Other countries that lead in renewable energy are also continuing to move forward. In 2007 Germany achieved its 2010 goal of 12.5% of electricity being generated from renewable sources. This led the German Ministry for Environment to propose a 7% increase in the 2020 goal, from 20-27%. Meanwhile, the Spanish government struggled to re-strategize its support for solar energy after greater than expected growth was driven by its generous feed-in-tariffs.
In a report published by IntertechPira in November 2007, it was speculated that US could become the largest market world-wide by 2012. However, with the uncertainty of the tax credit extension in the US, some solar projects that are not scheduled for completion until after 2008 are being left in limbo. With the current inability of Congress to pass supportive policies, it will remain to be seen whether significant growth in US market share will become a reality.
In related news, there have been various announcements from companies that will be participating at IntertechPira's 3rd annual Photovoltaics Summit 2008 on June 18-20, 2008 in San Diego.
On February 11, Moser Baer announced that it would invest $1.5 billion to expand its thin-film production capacity to over 600 MW by 2010. President & CTO of Moser Baer Photovoltaic Ltd, Dr. G. Rajeswaran, will give a talk at Photovoltaics Summit 2008 titled: Mass production of silicon-based PV products in India.
On February 6, Spire Corporation announced that it received a contract to supply a photovoltaic module assembly line to South Korean module manufacturer Dongyang Creditech Co. Ltd. Roger Little, Chairman and CEO of Spire Corporation will give a talk at Photovoltaics Summit 2008 on advances in photovoltaic manufacturing equipment.
SOURCE: Photovoltaics Summit 2008