ABB Getting Out Of Solar Inverters

| July 10, 2019

article image
ABB acquired its solar inverter business from Power-One back in 2013, so it hasn’t had the line in its stable for very long. But it’s a cutthroat business with shrinking margins and ABB has a target margin corridor of 15-19 percent. ABB says the transaction will enable the company to focus its business portfolio on other growth markets. “The divestment is in line with our strategy of ongoing systematic portfolio management to strengthen competitiveness, focus on quality of revenue and higher growth segments,” said Tarak Mehta, President of ABB’s Electrification business. ” Solar is a well-established and key focus for FIMER and as such we believe them to be a very good owner for ABB’s solar inverter business.” ABB states it isn’t totally turning its back on solar power – the firm will continue to integrate solar into its smart buildings, energy storage and electric vehicle charging solutions. If you haven’t heard of FIMER before, you wouldn’t be alone. If its intention has been to fly under the radar, then the firm has been pretty successful. Headquartered in Vimercate, Italy, the company was founded in 1942 and started tinkering with inverter technology in 1983.

Spotlight

Irish Wind Energy Association

The Irish Wind Energy Association is committed to the promotion and education of wind energy issues and plays a leading role in policy development and lobbying on the island of Ireland.

OTHER ARTICLES

A Clean Energy Source of the Future?

Article | March 27, 2020

You know things are getting exciting when German bureaucrats are turning emotional, as happened one month ago in Berlin: “Hydrogen is the shit! And we need it desperately.” Thomas Herdan, the bureaucrat in question, is a prominent policymaker in the German Economic Ministry and, until that moment, was known for analytical thoughtfulness rather than for enthusiastic outcries. His excitement, however, is shared by governments and businesses around the world. The International Energy Agency IEA estimates that every year, the world’s governments pour $700 million into R&D for hydrogen applications alone. A few months ago, the U.S. announced $40 million in funding for 29 hydrogen projects across the country. As IEA puts it, hydrogen currently has “unprecedented political and business momentum”.

Read More

Will the Coronavirus Bring Clouds to this Solar Energy ETF?

Article | April 1, 2020

The capital markets are well aware of the stress and strife that coronavirus is putting on oil prices as the commodity continues to test new lows. One byproduct of the pandemic, however, that might not be getting enough coverage is the cloudy doom and gloom that the virus is bringing to the solar energy space. Solar energy businesses are also feeling the pinch, but not getting the support they desire from the federal government. “As Congress continues to address the ongoing COVID-19 crisis, we appreciate that they are prioritizing relief for families and small businesses,” said President and CEO of the Solar Energy Industries Association Abigail Ross Hopper. “There are several elements in this legislation that can help solar businesses and solar workers, including long-term unemployment insurance, business loans and provisions that support employee retention and other employee protections. We will be working to help our members understand what resources are available to them as a result of this legislation and how they can use those resources to help get through this difficult time.”

Read More

Recognizing and solving challenges in renewable energy land usage

Article | February 14, 2020

As anyone familiar with the saga of the Spotsylvania solar project knows, an inherent difficulty in developing renewable energy projects comes in finding the right project location, both in terms of size and siting. This is one of the topics analyzed in a new report released by The Brookings Institute: “Renewables, land use, and local opposition in the United States.” It’s a hard fact that renewable generation uses more land than fossil fuel systems, with solar having slightly lower median land use than both on- and offshore-wind, despite a large variance in total land density values. While this presents an issue for renewable developers, the silver lining is that renewable energy can be sustained indefinitely on the same land base, while mines and wells will eventually run out. As a solution, the study recommends greater development on brownfields, as well as floating PV, though the authors do recognize the capped potential of floating PV at around 10% of current U.S. electricity generation.

Read More

Unlocking the benefits of digital solar to accelerate the energy transition

Article | February 14, 2020

Since a successful energy transition must be renewable, efficient and smart, the digital transition and the energy transition should go hand-in-hand. Solar is the most distributed of all energy resources and thus solar solutions are a perfect match for digitalisation and the application of distributed ledger technologies such as blockchain. This is good news for Europe’s energy transition. Digitalisation and increasing electrification of the energy system enables to break the boundaries between key sectors such as industry, transport and buildings. This sectoral integration unlocks new sources of clean flexibility, and supports the increasing penetration of solar and renewables into the system.

Read More

Spotlight

Irish Wind Energy Association

The Irish Wind Energy Association is committed to the promotion and education of wind energy issues and plays a leading role in policy development and lobbying on the island of Ireland.

Events