RatedPower Unveils 2023 Renewable Industry Trends

The year 2022 has seen many disruptions in supply chains. Despite this, the renewable energy sector continues to grow, driven by the energy transition and the search for alternative energy sources to fossil fuels.

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RatedPower, now part of Enverus, the most trusted SaaS energy platform, has released its annual findings from nearly 100 diverse industry experts from around the world, as well as over 101,000 simulations. According to the results, the focus in 2023 will be on accelerating the adoption of renewable energy generation, reducing the discounted cost of electricity, diversifying energy sources, and investing in energy storage.

Challenges to be met

After years of falling costs, the renewable energy industry faced new challenges in 2022. Supply chain disruptions related to the pandemic have resulted in higher equipment prices and reduced availability. However, new global capacity installations continued to increase as the pandemic, coupled with the energy crisis, prompted governments and businesses to increase their investments in clean energy and reduce their dependence on imported fossil fuels.

A Green Direction for a Clean Energy Future

“In the coming year, we expect the green transition to provide a huge boost to investment in solar photovoltaic (PV) panels – for residential, commercial and industrial installations, as well as large-scale utility installations. The industry is increasingly looking for ways to incorporate battery storage and clean, green hydrogen into renewable installations to maximize supply,” said Andrea Barber, vice president of energy and renewables at Enverus and co-founder of RatedPower when the report was released.

Diversification, a key to success

To gain a better understanding of the state of the industry and key trends for this year and beyond, RatedPower engaged more than 100 experts from energy companies of all sizes around the world and conducted an in-depth survey that includes their opinions on the challenges and opportunities ahead. In addition, the report analyzes data from RatedPower’s solar plant simulation software to highlight key trends and the world’s top manufacturers in 2022.

 

Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Plenitude and Modine have signed an agreement to build a photovoltaic plant with an installed capacity of 1.585 MWp in Pocenia, designed to power thermal and refrigeration equipment at Modine’s Italian industrial site, without initial investment.
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.
CleanCapital expands its portfolio by acquiring solar and energy storage assets totaling 27 MW in California and Massachusetts from Pacifico Energy to meet growing demand in the United States.
BrightNight and Cordelio Power commission a major 300 megawatt solar project in Arizona, attracting significant investments from JPMorgan and Capital One, with estimated local economic benefits of $180mn.
Austria is launching an unprecedented 20% bonus on photovoltaic subsidies to promote equipment manufactured in Europe, with a total envelope of €20 million dedicated to solar installations and energy storage systems.
Chinese manufacturer Longi will invest alongside Pertamina NRE in a 1.6 GW site at Deltamas, aiming to strengthen the local photovoltaic chain and capture demand expected under Indonesia’s power plan.
OMV Petrom acquires 50% of the 400 MW Gabare photovoltaic project near Sofia, in partnership with Enery, in a deal valued at approximately €200 million including a potential energy storage solution.
Driven by strong solar adoption, the global SCADA systems market for renewable energy is expected to reach $3.56bn by 2030, with an estimated average annual growth rate of 12.7%, according to MarketsandMarkets.
RATP and Urbasolar officially inaugurated the Colombier photovoltaic power plant, the first large-scale solar installation operated by the Parisian public transport operator, set to produce 14 GWh of electricity per year.
Danish developer European Energy finalises financing deal exceeding €70m for constructing two Australian solar plants, totalling 137 megawatts of installed capacity on the local electricity market.
The African Development Bank financially supports Zambia with $26.5 million for the 32 MW Ilute solar project, structured to avoid reliance on sovereign guarantees.
Emeren Group Ltd announces a definitive merger agreement with Shurya Vitra Ltd, providing for the repurchase of shares at $0.20 each, aiming to transform the company into a private entity by the end of September 2025.
The global solar tracker market is expected to reach $29.31bn by 2030, driven by a compound annual growth rate of 26.2%, notably supported by large-scale photovoltaic projects and recent technological advances, a new study reports.
A report from the think tank Ember reveals that falling battery prices now make year-round solar power generation economically viable in the world's sunniest regions.