New ways of working: Key takeaways from PV Tech webinar on European climate and solar power - PV Tech
Key takeaways from PV Tech webinar on European climate
Disruptions to Europe’s climate could pose challenges for new and existing solar developers on the continent, but also provide opportunities for new ways of working, according to speakers at a PV Tech event held in November.
The webinar, The New Normal: Navigating Climate Risks in Europe’s Solar Energy Transition, saw Roberta Boscolo, climate and energy leader at the World Meteorological Organisation; Anthony Doherty, chief investment officer at NTR; Monika Paplaczyk, an investment director at Thrive Renewables; and Mark Wakeford, the chairman of EvoEnergy discuss challenges for European solar planning and delivery.
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For instance, many solar panels lose power output at temperatures beyond a narrow range of optimal temperature, making them less effective, and less predictable, during times of climactic variation.
First Solar’s latest Series 6 and Series 7 panels, for instance, both have a temperature coefficient of 0.32% per degree Celsius, meaning that they lose 0.32% of their power output for each degree outside of the range of 25-75 degrees Celsius, and changes in Europe’s climate could affect the effectiveness of individual panels, and entire projects as a result.
This uncertainty has also contributed to concerns about the financial viability of some projects, at a time where there is more money in the solar sector than ever before. According to Avnet, in the first five months of this year, European solar start-ups received €5.6 billion (US$6 billion) in funding, a new record for the region. With this additional funding in the sector, investors are keen to support projects with high bankability and that are forecast to deliver stable returns, to avoid costly losses.
However, there were notes of optimism in the discussion, with speakers suggesting that these challenges could encourage solar developers and investors to work in new ways. One example mentioned was agrivoltaics, with Europe having the potential to install 51TW of solar capacity in the agrivoltaic sector alone, and building solar projects that are more integrated into the environment could help protect the sector from future disruptions to the European climate.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”