INDUSTRY NEWS

GOOGLE SIGN ITS FIRST SOLAR FARM DEAL IN ASIA

Published Date | 2019 February 19

Google is moving ahead with its first water-based renewable energy project, a solar power project above fishing ponds in Taiwan, marks Google's entry into the Asian renewable energy market, expected to promulgate the Solar Power Plant & Equipment market.
Global: Google, a subsidiary of Alphabet, is building a solar power project above fishing ponds in Taiwan. Google became the first company to make a purchase under the 2017 Taiwan Electricity Act, which allows non-utility companies to purchase renewable energy. The project is smaller in scale- the 10-megawatt solar array in Tainan City, Taiwan marks Google's entry into the Asian renewable energy market. Google will install poles, with solar panels at the top of them, above fishing ponds.  The idea of building solar projects sited on the water — known as floating photovoltaic, or "flotovoltaic" — is becoming more popular. Last year China built the world's largest floating solar farm on a lake that used to be a coal mine. Japan is the world leader in floating photovoltaic installations, with more than 60 projects built since its first in 2007. SOLAR FARMGoogle's fishing pond project may differ from many water-based solar efforts that use structures like pontoons to float the solar panels directly on the water. Shade has been presented as a key benefit of floating photovoltaic as the panels blocking of sunlight reduces evaporation from key reservoirs. The Google project development team has not yet decided how the solar panels will be situated above the water. Google is currently focused on poles that would have solar panels hoisted on top of them, a concept is known as a "canopy" system. According to BlueWeave Consulting, solar energy is an ideal long-term source of clean energy that can be used as a viable alternative to currently prevalent nonrenewable sources such as coal, gas, and oil. Building solar projects over water are becoming more common in Asia due to population density and competition for available land. In addition, the decrease in water footprint associated with solar energy systems has fueled demand in power generation sectors. Electricity demand in Asia has increased rapidly and is expected to rise further in the years to come and clean energy from the wind and sun solar panels reduce the amount of electricity generating from fossil fuel. Floating solar projects also have logistical advantages. They can be placed near existing electricity transmission infrastructure at hydropower sites, and close to demand centers. Floating solar project could result in improvement in fishing yields because elevated panels provide optimal room for fish while also providing them with shade. The demand for solar cells has gained major traction owing to a surge in floating solar projects, followed by an increase in applications in the architectural sector. The technological innovations, advancement coupled with growing awareness of energy security and self-sufficiency along with favorable government legislation is expected to fuel solar power plant and equipment market growth over the forecast period. According to BlueWeave consulting’s upcoming report, Titled-“ Global Solar Energy Market, by Technology (Photovoltaic Cells, Concentrated Solar Power Systems), Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, and Others), Generation (First, Second, and Third), and Application (Agriculture & Horticulture, Architecture, Transportation, and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East And Africa); Size and Forecast, 2019-2025” – For many years solar was considered as the main pillar of a future renewable energy based system. Demand for a solar panel is increasing prominently all over the world. North America market for solar panels has been growing rapidly especially due to the growth of residential solar applications in the U.S. Global solar panels market is characterized by improving conversion efficiency by key market participants. Key companies operating in this market include Suntech, Sharp Solar, First Solar, Trina Solar, Yingli, Hanwha Solarone, Canadian Solar, SunPower, SolarWorld, and Renewable Energy Corporation. According to the upcoming report by BlueWeave Consulting on “India Solar Photovoltaic (PV) Market By Type (Utility Scale, Rooftop), By Technology (Fixed Tilt, Single-axis Tracker), By Region (North, West, East & South); Size and Forecast, 2014-2025” The Indian solar photovoltaic market has seen tremendous growth over the projected period. Various subsidies and incentives provided by the government have created a good amount of awareness and agreeableness among the end users for adopting solar power as an alternative source of energy over conventional sources. With an increasing focus of the government on the development of the renewable energy sector, technical improvements, solar power cost, and the price will drive the solar photovoltaic market in India. According to BlueWeave consulting’s upcoming report, Titled-“India Solar Power Equipment Market, By Equipment (Solar Panels, Mounting, Racking, & Tracking System, Storage System, and Others) and By Application (Residential, Nonresidential, and Utility), By Region (North, West, East & South); Size and Forecast, 2014-2025,” The India solar equipment market witnessed robust growth over a forecast period due to technology advancements and improvements in manufacturing processes. However, rising government investments in the sector, increasing technological advancements and growing environmental concerns are expected to boost solar equipment market over the forecasted years.