On the other hand, innovations such as solar photovoltaic (PV) panels has surged solar energy generation. Likewise, PV panels are more beneficial than any other technology as it doesn’t create any harmful greenhouse effect while generating energy. In addition, PV panels are perfectly suitable for households as solar energy is completely free and plentiful, and they don’t create any disturbance, unlike other energy-generating technology. On top of that, solar panels are both cost-friendly and eco-friendly. Moreover, the technology is still trying to capture a broad amount of natural energy.
25% yearly growth of the global PV market
Along with the rise in population, the demand for energy is switching high. The government is also stepping toward go green revolution by applying stringent regulations. Also, it is budget-friendly, which has amplified its implementation among the crowd. According to a report published by Allied Market Research, the global photovoltaic market is estimated to garner $333.72 billion at a CAGR of 25.1% by 2026. Several firms have initiated development of solar photovoltaic technology-based machinery to provide a valuable alternative for energy generation. A Philippines-based company has recently developed a 550kw rooftop solar photovoltaic project. Alternatively, a three-phase inverter with 1500 Vdc has been introduced by multinational firm Ingeteam. Following are some of the latest advancements in the technology:
A firm to develop a 550kw rooftop PV for a rice mill
Menlo Renewable Energy Corp. (MREN), a subsidiary of Philippines-based MCR Allied Inc., is working on a project to develop a 550kw rooftop solar photovoltaic project for a rice mill based in Northern Luzon. According to the parent firm, the pilot project for MREN’s solar PV portfolio can bring the company closer to become a foremost renewable energy firm in the Philippines. Furthermore, the project can benefit other industries by this renewable energy technology. On the other hand, the project installation would benefit the rice mill by reducing power costs and lowering expenses.
Ingeteam to introduce a highly-efficient PV string inverter
Ingeteam, an international group of power and control electronics has introduced a new PV string inverter. The three-phase inverter INGECON SUN 160TL includes 1500 Vdc technology, appropriate for both inside and open-air installations. The inverter has mainly directed for large scale PV plants. The inverter has multiple characteristics including Wi-Fi, Ethernet, and power line communication as standard with high efficiency, reactive power capability, low voltage ride-through, high power density, and no connection boxes for AC/DC. The inverter is a cost-friendly solution. On the other hand, the Wi-Fi communication enables control of the PV installation via mobile phone, tablet, and laptop. The inverter can be provided in two versions, STD and PRO, depending on the customer’s needs and technical requirements.
Solar energy has become extremely beneficial and trending due to its renewability, efficiency, and reduced installation prices. The rising demands have made the technology more advanced and provided an effective source of clean energy. Moreover, the concerns regarding the ecosystem are forcing the crowd to march towards an eco-friendly way of energy generation. On top of that, the latest innovations in the market with no harmful damages are impacting the acceptance of solar photovoltaic panels by major firms. Moreover, the initiative towards solar photovoltaic panels can increase the chances for our planet to go green. (AP/HCN)
