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July 12, 2024
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Solar Power Hits New Heights on Summer Solstice

As the world celebrated the summer solstice, solar power reached a remarkable milestone, generating about 20% of global electricity during midday peaks, according to a recent report by Ember. This achievement underscores the rapid expansion of solar energy, which is now the fastest-growing source of electricity worldwide.

China has played a pivotal role in this growth, installing 152% more solar capacity in 2023 than the previous year. This surge has positioned China as the leader in the global solar market, accounting for 36% of global solar generation. The report highlights that in June 2024, solar power is expected to contribute 8.2% of global electricity, up from 6.7% in June 2023.

The European Union also showcased significant progress, with solar power expected to provide 20% of its electricity in June, doubling the global average. Spain leads within the EU, projecting a 30% share of solar in its electricity mix.

The United States and India are set to generate around 7% of their electricity from solar this June, reflecting their growing investment in renewable energy.

One of the most significant challenges of renewable energy lies in its generation and storage. Unlike fossil fuels, which can be burned on demand, renewable sources like solar and wind produce energy intermittently. Without efficient storage solutions, much of this valuable energy is lost, highlighting the critical need for advancements in energy storage technologies to ensure a stable and reliable supply.

From this perspective, Romania is one of the leading countries in the European Union: PRIME Batteries is at the forefront of renewable energy storage solutions, pioneering innovative technologies that ensure efficient, reliable, and scalable energy storage, transforming intermittent renewable sources into a consistent and dependable power supply. Recently, PRIME and Monsson inaugurated the largest energy storage capacity in Romania.

The transition to renewable energy must be achieved sustainably. Intermittentness was a problem that needed to be addressed and resolved, as far as possible, at the source generating it. Here, Prime Batteries has assumed the role of solution provider since 2016. We are identified as a battery manufacturer in the market, but our main business is the supply of lithium-ion battery storage solutions.

Vicentiu Ciobanu, PRIME’s CEO

The report emphasizes the transformative impact of solar energy, noting that solar power has scaled faster than any other electricity source, reaching 1,000 TWh of generation in just eight years. The affordability and scalability of solar technology have been critical in this rapid adoption, making it a cornerstone of the global transition to clean energy.

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