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Abstract
Climate Energy Finance (CEF) just officially launched their latest report this morning: 'International Solar PV and BESS Manufacturing Trends: Solar PV’s
disruption is happening at a speed beyond imagination, turbocharged by BESS firming.' CEF analyses the rapid acceleration in global solar deployments, with battery energy storage system (BESS) technology disruption massively compounding the solar disruption.
2024 saw global solar installs reach almost 600GW, totally reshaping global energy markets. CEF expects significant further growth, with installs in 2025 of 700GW then expected to reach 1,000TWh annually as soon as 2030. The solar disruption is largely driven
by the scale of China's strategic investment into solar PV technology, deployment, manufacturing & exports, resulting in significant ongoing cost deflation globally. BESS has more recently seen remarkable growth, fast to deploy, at a larger scale & longer
duration. BESS Is unlocking more of solar PV’s value & utility. We trust this is a useful update as we witness the global energy system disruption accelerating.
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Brief Bio
Tim Buckley is the Director of Climate Energy Finance, Australasia. Tim has 35 years financial markets experience, including providing public interest related financial analysis on the energy transition since 2013, studying China, India and Australia.
Tim founded Climate Energy Finance Australasia in 2022, having co-founded and worked with the global energy finance thinktank IEEFA over 2013-2021. For 17 years Tim was a Managing Director at Citigroup, Head of Australasian Equity Research. Tim has published over 100 reports on the global energy transition.
