Solar energy is the cheapest way to produce electricity in most places around the world. The cost to install utility-scale solar has dropped by 88% over the last decade, according to the International Renewable Energy Agency, accelerating the deployment of solar energy.
In recent years, utility-scale solar has been the fastest growing generation source, thanks in large part to cost declines. 2022 was a record year for solar energy additions, with more than 295GW of solar energy added worldwide, according to the International Renewable Energy Agency. Between 2022 and 2027, global solar capacity is projected to almost triple, becoming the largest source of power capacity in the world, according to the International Energy Agency.
Solar photovoltaic (“PV”) panels typically consist of silicon, tempered glass, aluminum, copper, and semiconductor materials. Silicon, an element most commonly found in sand, has conductive properties that allow it to absorb and convert sunlight into electricity. When light interacts with a silicon cell, it causes electrons to be set into motion, which initiates a flow of electric current in a process known as the “photovoltaic effect”.
A solar power plant consists of a series of solar panels connected with electric conversion equipment that process the sun’s power into energy that can be used in your household. Like traditional power plants, solar power plants deliver energy onto the electrical grid to be distributed to businesses and households in neighboring communities.
Yes. Because the PV panel materials are enclosed and do not mix with water or vaporize into the air, there is little-to-no risk of chemicals, including greenhouse gases, being released into the environment during normal use.
All Recurrent Energy’s solar facilities are designed to meet strict electrical safety standards, ensuring safe operation throughout the project life.
Delivering clean, reliable and affordable power to the world, today and tomorrow.
Recurrent Energy is one of the world’s largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and operations platforms. With an industry-leading team of in-house energy experts, we are a wholly-owned subsidiary of Canadian Solar Inc. and function as Canadian Solar’s global development and power services business.
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The investment will provide Recurrent Energy with additional capital to grow its high value project development pipeline while executing its strategy to transition from a pure developer to a developer plus long-term owner and operator in select markets including the U.S. and Europe.
