Looking Ahead to 2026

FranklinWH Energy Storage Inc. (FranklinWH), a leader in whole-home energy management solutions, announced its participation in Puget Sound Energy’s Flex Batteries program. The program encourages homeowners to enroll their home battery systems to support local grid reliability.  

Through the Flex Batteries program, homeowners receive an enrollment incentive of up to $1,000 per battery, plus up to $500 per year for participating. When the grid is under strain, Puget Sound Energy (PSE) automatically pulls excess stored power from the system, and homeowners are paid for the energy their batteries provide. Events can be called year-round, helping prevent spikes on the power grid and reduce the need for less efficient sources of power while providing homeowners with direct financial benefits. 

“With federal tax credits for home energy storage ending last year, programs such as this from Puget Sound Energy are an important way for homeowners to make battery backup affordable,” said Gary Lam, CEO and co-founder of FranklinWH. “This allows homeowners to keep their power on during outages, save on energy bills, and support the grid during high-demand periods.”

Lam said the program is a practical way for homeowners to maximize the value of their energy storage systems. “People want solutions that are simple, reliable, and worth their investment,” he said. “This program helps pay for an energy storage system that is more than backup power. It’s also a way to earn money from PSE while helping keep the power on across PSE’s territory.”  

Batteries must be owned by PSE customers and interconnected with the PSE grid. Software technology providers Uplight and Derapi facilitate enrollment, battery dispatch, and customer payment. FranklinWH’s participation in Flex Batteries underscores the company’s commitment to saving homeowners money on energy costs, expanding access to clean energy incentives, and strengthening grid reliability across Washington and the United States. 

FranklinWH | www.franklinwh.com

Puget Sound Energy’s Flex Batteries | 

Caterpillar Inc, OnePWR Solutions and Vero3 announced their strategic collaboration focused on developing large-scale lower-carbon power generation and permanent carbon storage projects to support mission-critical facilities, including data center infrastructure. The parties intend to collaborate on the design of a fully integrated solution combining natural gas–based prime power generation, carbon capture, battery energy storage, and permanent geological sequestration of carbon dioxide. 

The collaboration brings together each party’s unique strengths to deliver a complete solution that supports sustainability initiatives and ensures reliable, uninterrupted power. Caterpillar will leverage its diverse portfolio of power solutions, including natural gas and diesel generation equipment, gas turbines and controls, and will also lead front-end engineering and design (FEED) activities for carbon capture systems.  

OnePWR will build, own and operate the power generation and associated infrastructure, delivering reliable, around-the-clock power under long-term commercial arrangements with customers.  

Vero3 will develop, own, and operate infrastructure that captures and permanently stores carbon dioxide, a process known as carbon sequestration. They will also manage tax credit monetization strategies. 

The first project is expected to launch in 2026, with the initial development of a 500 MW prime power generation site, laying the foundation for future global deployment. 

This collaboration highlights the combined commitment to developing firm, dispatchable power solutions that support increasing energy needs while aligning with customer’s long-term sustainability objectives.  

Caterpillar | www.caterpillar.com

OnePWR Solutions | onepwrsolutions.com

Vero3 | vero3.com

Greenland Resources Inc. (TSX:MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that the Government of Canada has conditionally approved the Company for a non-repayable contribution of up to $7,000,000 for the advancement of its Malmbjerg Molybdenum Optimization & Magnesium and Rare Earth By-product Feasibility Study project. Pending final diligence and definitive documentation, the funding will be provided through Natural Resources Canada's Critical Minerals Research, Development and Demonstration (CMRDD) program. The announcement was made today, Monday, March 2, 2026 by the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources at the annual PDAC conference in Toronto.

The metallurgical program will evaluate the feasibility of processing primary molybdenum using saline and fresh water for flotation to assess the potential recovery of magnesium and rare earth element by-products contained within the Malmbjerg molybdenum ore body, and to assess magnesium recoveries contained in saline water using innovative technologies. Rare earth elements are used in the production of magnets, batteries and catalysts while magnesium is primarily used as a casting alloy in the automotive and aerospace industries and in aluminum-based alloys. China sourced production accounts for around 69% and 89% of global rare earth elements and magnesium, respectively.

“Research and development are essential to building the sustainable and reliable critical mineral supply chains that power clean energy, advanced manufacturing and defence readiness,” said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. “By supporting innovative projects like those led by Greenland Resources, we are strengthening Canada’s leadership in technologies that reduce environmental impacts, improve productivity and build long‑term economic and security resilience.”

Dr Ruben Shiffman, Chairman said: “Canada first! We express our gratitude to the Government of Canada and Minister Tim Hodgson for his leadership and support. The contribution will help to secure long-term supply of critical minerals for Canada and the EU with high sustainability standards. The project overall has the potential to increase Greenland’s GDP by over 25% and provide new life skills to the people in Greenland, especially now that we have engaged Nuna Group of Companies, Canada’s largest, majority Inuit-owned heavy civil construction mining company that will build the mine and train the Greenlandic Inuit given their deep understanding of the language and culture.”

Qualified Person Statement

The news release has been reviewed and approved by Mr. Jim Steel, P.Geo., M.B.A. a director of the Company and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

Greenland Resources | www.greenlandresources.ca

New Energy Equity, a wholly owned subsidiary of ALLETE Inc., announced that its Moriah Community Solar project has officially commenced operations in Moriah, New York. The 7.0 MWdc facility will generate over 8.3 million kWh of energy annually, the equivalent of more than 1,200 New York homes. The project in the Adirondack region of New York state represents New Energy Equity's commitment to building solar projects that create lasting economic value for landowners and communities.

New Energy Equity is leasing the land to build the project from a local resident, guaranteeing a new income stream for their family for future decades. The Moriah project will generate energy for the local utility grid, helping to meet the increasing demand for electricity in New York state.

"Moriah Community Solar reflects our mission of building solar projects that generate reliable energy and lasting economic value," said Josh Kunkel, President & CEO of New Energy Equity. "The benefits don't stop with the landowners we work with. Communities also get the benefits of increased revenue for schools, public safety, services, and increased electricity supply that can be used locally."

National Grid customers in New York state will also be able to enroll in community solar and receive utility bill credits for their share of the power generated by Moriah and other community solar projects, saving them money on their electricity bills.

The Moriah project exemplifies New Energy Equity's full-service approach to solar development alongside best-in-class partners. The company co-developed this project with East Side Solar Holdings, and now owns the solar project, ensuring long-term operational excellence. New Energy Equity partnered with Radiance Solar, an engineering, procurement, and construction (EPC) service provider, to build the Moriah project.

"Radiance Solar is committed to quality, safety, and reliability," said Gordon Hilburn, VP, Operations at Radiance Solar. "Partnering with a company like New Energy Equity that shares our commitment made it possible to complete this new source of electricity for New York residents."

 "We're proud to have brought the Moriah Community Solar project from concept to a fully operating clean-energy asset in New York's Adirondack Region," said Mark Coles, Managing Director of East Side Solar Holdings. "New Energy Equity has been an exceptional partner and steward of the project, successfully delivering construction and bringing it to commercial operation. We look forward to working together again as we expand our community solar development pipeline across New York and beyond."

The project adds to New Energy Equity's track record of successful solar developments, with over 600 MW of solar projects developed across 16 states. New Energy Equity will continue to empower landowners to build generational economic security, communities to enjoy cleaner energy, and partners to see lasting financial benefits.

New Energy Equity | http://www.newenergyequity.com

 ALLETE | www.allete.com

EnergyBin, LLC. and Buckstop, Inc. announced the release of the fifth annual (2025) PV Module Price Index - Secondary Solar Market report. The price index tracks wholesale pricing and supply of crystalline-silicon (c-Si) modules that have fallen out of traditional distribution channels, and as a result are listed for resale on the EnergyBin exchange. 

For the fifth year of publishing the report, the findings point to opportunities that lie within a robust and sustainable secondary market that supports the ongoing extension of PV asset lifecycles, maximization of asset recovery, and minimization of solar e-waste. Both the value and size of the secondary market increase as reuse of PV modules not yet at end-of-life becomes mainstream and a comprehensive recycling infrastructure to extract and redeploy materials is established. 

As a B2B wholesale solar equipment exchange comprised of over 1,000 member companies, EnergyBin facilitates the connection of solar companies looking to buy and sell PV hardware. Although transactions do not take place on the EnergyBin platform, sales listings documented more than 8.7 million modules posted to the site for resale from January 2020 through December 2025. 

“For the fifth year in a row, the PV Module Price Index has provided evidence that points to a growing secondary solar market,” says Renee Kuehl, COO at EnergyBin. “What’s clear from this price index is that most remarketed modules retain resale value. Even as global prices fell since 2023, the price index highlights some level of incubation within the U.S. market.” 

In 2025, modules listed for resale were predominantly new (98%) All Black, Bifacial, and Monofacial types with a power range from 400 to 525 watts. This volume primarily flowed from project cancellations and delays. Additionally, a rush to offload P-Type modules increased secondary market supply as resellers anticipate PERC production phase-outs. The resale value for PERC modules held steady throughout the year but will begin to slide as N-Type supply overtakes P-Type. 

Another key finding revealed the effect of global oversupply upon used module resale. The average price for used modules plummeted by 30% from January 2024, down to $0.058/W in Q4 2025. With new TOPCon modules listed at $0.090/W shipped FOB from China (as of December), the case for resale was somewhat hampered. 

However, a market size analysis provided by Buckstop indicated that much of the used module supply bypassed wholesale exchanges, like EnergyBin, and exported directly to buyers in other countries, including Pakistan, India, Nigeria, Afghanistan, and South Africa. In 2025, U.S. used module exports to these countries totaled 50 MW. 

One exception that appears to justify the viability of used module resale today is that of top-quality modules, which are less than 10 years old, report a degradation rate of at or below 0.5-1% per year, and are defect-free. As buyers favor well-made modules over price, used module resale, particular those in excellent working condition with 3.2 mm glass and no cracked backsheets, becomes an opportunity. 

“The secondary market offers solar companies the opportunity to create financial, social, and operating value,” says Nick Kumleben, Chief Business Development Officer & Co-Founder at Buckstop. “Secondary markets are not just useful sources for spare parts and liquidity sources for excess stock. Resale also allows solar operators to find used parts, donate unwanted inventory, lessen supply chain shortages through recycling, and help solve energy poverty around the world.” 

EnergyBin | https://energybin.com/

Buckstop | https://buckstop.com/

DNV, the independent energy expert and assurance provider, was engaged as technical advisor by Ascenty, Latin America’s leading data centre provider, to perform an integrated technical due diligence on a portfolio of wind and solar projects. This assessment supported Ascenty’s strategic move into a renewable energy partnership valued at over USD 500 million with Brazilian developer Casa dos Ventos, which includes a long-term Power Purchase Agreement (PPA) and an equity stake in the projects.

As demand for data centre capacity accelerates in Brazil, operators like Ascenty are securing reliable, long-term renewable power to meet their sustainability goals and ensure operational resilience. The agreement underscores the critical intersection of digital infrastructure growth and the energy transition.

Data centre operators are becoming far more focused on electricity supply as demand rises. DNV’s 2025 Energy Transition Outlook projects that AI could drive global data centre electricity demand to around 9% of global consumption by 2060, up from about 1.3% today. This trend is evident in Brazil, where grid requests are poised to exceed 20 GW within a decade, according to the country’s Energy Research Office (EPE).

Against this backdrop, securing resilient, long-term renewable power is increasingly a business priority. This partnership enables Ascenty to meet future electricity needs with predictable clean energy while helping accelerate renewable development in Brazil.

This agreement reinforces our growth strategy based on predictable, long-term renewable energy. DNV’s independent technical assessment was essential in enabling us to move forward with confidence in structuring this partnership,” said Marcela Martins, Director of Energy Management at Ascenty.

DNV provided a unified technical review, delivering a consistent analysis of development risks and technical readiness across both technologies. The scope covered essential areas for PPA structuring, including technology suitability, grid interconnection plans, and environmental and permitting status.

"Independent technical due diligence is fundamental for de-risking long-term renewable procurement," said Brice Le Gallo, Vice-president and regional director for SEMELA*, Energy Systems at DNV. "Our assessment provided Ascenty with clarity on the technical assumptions and project readiness, enabling them to proceed with confidence in this innovative partnership structure."

“Conducting a technical review across both wind and solar assets is essential to support well‑grounded decisions for data centres and other offtakers,” added Tchiarles Coutinho, Market Area Manager for Latin America, Energy Systems at DNV. “Our assessment clearly outlined the project’s upside potential and technical risks, enabling Ascenty to move forward with this strategic renewable energy partnership backed by transparent and reliable insights.”

By supporting this transaction, DNV demonstrates how integrated technical advisory can enable complex, multi-technology renewable deals. This project illustrates a growing trend where corporate energy buyers are moving beyond standard PPAs to more strategic partnerships that combine energy supply with direct investment, accelerating the deployment of new renewable generation to meet tomorrow’s electricity demand.

DNV | www.dnv.com  

According to a new report published by Allied Market Research, the solar energy market size was valued at $0.4 trillion in 2024 and is estimated to reach $1.6 trillion by 2034, growing at a CAGR of 15.2% from 2025 to 2034. The rapid transition toward renewable energy, rising environmental concerns, and supportive government policies are significantly accelerating the growth of the solar energy market worldwide.

Solar energy refers to the energy derived from the sun’s radiation that is converted into electricity or heat using solar panels and solar thermal systems. As a clean, renewable, and sustainable power source, solar energy plays a vital role in reducing dependence on fossil fuels and minimizing carbon emissions. The increasing adoption of solar technologies across residential, commercial, and industrial sectors is strengthening the long-term outlook of the solar energy market.

Market Dynamics Driving the Solar Energy Market Growth

Technological advancements in photovoltaic (PV) cells have significantly improved conversion efficiency, enabling solar panels to generate more electricity from the same amount of sunlight. This improvement enhances overall system performance and supports the expansion of the solar energy market across diverse applications. Higher efficiency levels reduce installation space requirements, making solar systems more viable for urban and industrial settings.

In addition, advancements in battery storage technologies, including high-capacity lithium-ion and emerging solid-state batteries, are addressing the intermittency challenge associated with solar power. Energy storage systems allow excess solar energy to be stored and utilized during nighttime or cloudy conditions, ensuring a continuous power supply. These innovations are making solar solutions more reliable and boosting demand in the solar energy market.

The integration of smart grids and intelligent energy management systems is further optimizing solar power distribution and monitoring. Smart grid infrastructure enables efficient load balancing, real-time energy tracking, and enhanced grid stability, which collectively support the large-scale deployment of solar energy systems.

Policy Support and Manufacturing Expansion

Government initiatives and policy reforms are playing a crucial role in shaping the solar energy market. For instance, policy adjustments in import duties on solar modules and cells aim to promote domestic manufacturing while ensuring cost competitiveness. Such strategic policy measures encourage investments in solar infrastructure and strengthen local supply chains.

Major solar manufacturers, including LONGi Solar, Trina Solar, and Canadian Solar, have significantly expanded their production capacities to meet the rising global demand. In the first half of 2024, leading manufacturers shipped nearly 40% more solar panels compared to the same period in 2023, highlighting the strong momentum in the solar energy market.

Furthermore, increasing investments in renewable energy projects and solar parks across emerging economies are accelerating the deployment of large-scale solar installations, contributing to sustained solar energy market growth.

Intermittency Challenges and Grid Stability Concerns

Despite its rapid expansion, the solar energy market faces challenges related to intermittency. Solar power generation is inherently variable due to weather changes, seasonal variations, and the day-night cycle. As solar power now contributes a growing share of global electricity, managing grid stability has become increasingly complex.

Regions with high solar penetration, such as California and Australia, have experienced power price fluctuations and grid balancing challenges due to sudden surpluses or drops in solar output. Unexpected cloud cover or storms can also lead to prediction errors, causing grid imbalances and operational stress. These challenges highlight the need for advanced forecasting tools, grid modernization, and energy storage integration within the solar energy market ecosystem.

Emerging Opportunities Through Building-Integrated Photovoltaics (BIPV)

Building-Integrated Photovoltaics (BIPV) represent a transformative innovation within the solar energy market. BIPV systems seamlessly integrate photovoltaic panels into building components such as roofs, windows, and façades, enabling structures to generate their own electricity while maintaining architectural aesthetics.

Compared to traditional rooftop panels, BIPV offers dual functionality as both a construction material and a power generation system. This integration reduces construction material costs and enhances energy efficiency. BIPV systems are particularly beneficial for commercial complexes and high-rise buildings where rooftop space is limited but façade area is extensive.

Recent developments in perovskite-based solar modules and translucent photovoltaic technologies are further expanding BIPV applications, creating new growth opportunities in the solar energy market.

Segment Overview of the Solar Energy Market

The solar energy market is segmented based on technology, solar module, application, end-use, and region, providing a comprehensive understanding of industry trends and growth prospects.

By Technology

On the basis of technology, the market is divided into photovoltaic systems and concentrated solar power (CSP) systems. The concentrated solar power systems segment is expected to be the fastest-growing segment in the solar energy market, registering a CAGR of 15.8% during the forecast period. CSP technology uses mirrors or lenses to concentrate sunlight onto a receiver, generating thermal energy that is converted into electricity. A key advantage of CSP systems is their ability to incorporate thermal storage, enabling electricity generation even when sunlight is unavailable.

By Solar Module

Based on solar module, the market includes monocrystalline, polycrystalline, cadmium telluride, amorphous silicon cells, and others. The amorphous silicon cells segment is projected to grow at the fastest CAGR of 16.8% from 2025 to 2034. These cells perform efficiently under low-light and diffused sunlight conditions, making them suitable for urban environments and regions with inconsistent sunlight exposure.

By Application

By application, the solar energy market is categorized into residential, commercial, and industrial segments. The residential segment is anticipated to grow at the fastest CAGR of 15.1% during the forecast period. Rising electricity costs, environmental awareness, and government incentives are encouraging homeowners to adopt rooftop solar photovoltaic systems with battery storage solutions.

By End-Use

On the basis of end-use, the market is segmented into electricity generation, lighting, heating, and charging. The charging segment is projected to grow at a CAGR of 15.6% during the forecast period. Solar-powered EV charging stations and solar-assisted vehicle charging technologies are gaining traction as sustainable mobility solutions, further boosting the solar energy market.

Regional Analysis

Region-wise, the solar energy market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region, registering a CAGR of 15.6% during the forecast period. Rapid industrialization, government renewable energy targets, and large-scale solar projects are driving regional growth.

India is emerging as a key solar hub, supported by initiatives such as the National Solar Mission and rural solarization programs. Large solar parks in Rajasthan, Gujarat, and Karnataka, along with increasing adoption of rooftop solar systems in residential and commercial sectors, are accelerating the solar energy market expansion in the region.

Competitive Landscape

The solar energy market features intense competition with key players focusing on capacity expansion, technological innovation, and strategic collaborations. Major companies operating in the solar energy market include Enphase Energy, Inc., SunPower Corporation, JinkoSolar Holding Co., Ltd., First Solar, Inc., Trina Solar, Canadian Solar, Hanwha Q CELLS Co., Ltd., SolarEdge Technologies, JA Solar Holdings Co. Ltd., and Yingli Green Energy Holding Company Limited.

Conclusion

The global solar energy market is poised for substantial growth through 2034, driven by advancements in photovoltaic efficiency, energy storage technologies, and supportive government policies. While intermittency and grid integration challenges persist, innovations such as BIPV systems, smart grids, and solar-powered charging infrastructure are expected to unlock new opportunities. With rising investments, expanding manufacturing capacity, and increasing adoption across residential, commercial, and industrial sectors, the solar energy market is set to remain a cornerstone of the global clean energy transition.

Allied Market Research | https://www.alliedmarketresearch.com/solar-energy-market