Introduction: In this episode of the Unlocking the Energy Trilemma podcast, we have Sonia Dunlop, CEO of the Global Solar Council, the World Solar PV Industry Association and Vice Chair of the Global Renewables Alliance, hosted by Jose A. Martinez and Ravi Krishnan. Sonia shares her insights on the remarkable growth of solar PV, which recently reached a historic milestone of two terawatts of installed capacity globally and offers a glimpse into the future of the solar market. With solar power at the forefront of renewable energy efforts, Sonia discusses the challenges of grid integration, storage, and regulatory frameworks while emphasizing the need for innovative solutions to ensure a sustainable and affordable energy future. Click on the link above to listen to the entire episode.
Can you share a fact or figure related to the energy trilemma and today’s topic, solar power. What do you have for us?
What are your global expectations for solar in the near future? Are you seeing continued capacity growth similar to what we've seen in recent years, or are you starting to see a slowdown in certain markets?
What specific policies or regulatory frameworks do you believe are essential for modernizing grid infrastructure, incentivizing energy storage development, and ensuring the reliable integration of solar into the power mix?
One of the challenges renewables face is that inverter-based sources, such as wind and solar, often impact grid inertia, leading to increased curtailment. How do you foresee this issue being addressed in the coming years?
You mentioned inverters and batteries, both of which are crucial to the success of solar. Solar manufacturers might consider offering a complete package that includes solar PV panels, battery storage, and a high-quality grid-forming inverter. Do you foresee this kind of vertical integration becoming standard in the market, or do you think these components will remain separate, leaving end users to combine them as they see fit?
You mentioned negative pricing and the reduction of profitability. Do you see these factors becoming significant constraints for investment in solar in the coming years?
Is the behind-the-meter model the future for solar?
The U.S. and Europe have distinct approaches to solar market development, yet both have ambitious renewable adoption targets for 2030. In this context, what opportunities do you see for collaboration between these regions in areas such as technology development, policy frameworks, and addressing supply chain challenges?
According to you what is China's role, given its dominant position in the manufacturing of solar panels and batteries? There is also some argument that many of these solar panels and batteries are being manufactured using carbon-intensive, thermal fuels, with China continuing to add new coal-fired capacity. Some of these products are then exported to the United States and Europe. How do you see this dynamic playing out, and how can one still argue that this truly supports a net-zero objective when some of the inputs rely heavily on fossil fuels?
What are your views on long-duration energy storage? How do you see it evolving, and what trends do you foresee in reducing costs, improving round-trip efficiency, and making it more viable to achieve a fully decarbonized energy solution for the industry?
The solar industry is making significant strides, yet end-user prices are not decreasing as much as anticipated. Where do you see the gap? What needs to be done to bridge this disconnect between having vast amounts of renewable energy capacity and delivering more sustainable, affordable pricing for end-user industries and consumers?
If you had a magic wand and you could unlock the energy trilemma, what would you do with that magic wand?