According to the "renewable energy market update in the first quarter of 2022" report recently released by Edison energy, the electricity price of renewable energy continued to rise in the first quarter due to the impact of the imbalance between supply and demand on the renewable energy industry.
As the demand for renewable energy remains strong, some enterprises have set ambitious renewable energy procurement targets. Retailers seek to provide products and utilities needed to meet renewable energy requirements.
However, on the supply side, although many renewable energy projects have been listed, it is difficult to find projects that promise fixed prices without taking major risks. Renewable energy developers face the problem of rising costs, which is difficult to solve.
This includes transportation costs, which some PV module manufacturers link to market demand rather than fixed prices. Tariff uncertainty is another factor. With the US government beginning to investigate the tariff evasion of photovoltaic modules produced in four Southeast Asian countries, it is expected that the availability and cost of about 80% of photovoltaic module supply will be affected in the coming months.
Although PV developers are usually interested in the online time of projects, relatively few projects are expected to be online from now to the end of 2024. Compared with the fourth quarter of 2021, it is expected that the number of projects opened in 2023 will decrease by 30%, the number of photovoltaic projects opened in 2024 will increase, and the number of photovoltaic projects launched in 2025 or later will surge by 90%.
Mary Kate Francis, senior director of renewable energy supply at Edison energy, said: "due to a variety of factors, the U.S. photovoltaic market has been seriously affected in the first quarter of 2022 and seems to face uncertainty in the coming months. Nevertheless, we continue to see renewable energy developers looking for options suitable for them, avoiding risks as needed and operating photovoltaic projects online as soon as possible."
In addition, Edison energy and altenex energy's team will share further insights on the renewable energy market at the upcoming webinar and provide detailed information on the prospects, pricing trends and expectations of the photovoltaic market in North America and Europe in 2022.