The Solar Product Registry Set to Boost Solar Deployment

Renewables maintain their cost leadership in global power markets, IRENA’s new report on Renewable Power Generation Costs in 2024 confirms.

The report confirms that renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation, competitive supply chains, and economies of scale.

In 2024, solar photovoltaics (PV) were, on average, 41% cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53% cheaper. Onshore wind remained the most affordable source of new renewable electricity at USD 0.034/kWh, followed by solar PV at USD 0.043/kWh.

The addition of 582 gigawatts of renewable capacity in 2024 led to significant cost savings, avoiding fossil fuel use valued at about USD 57 billion. Notably, 91% of new renewable power projects commissioned last year were more cost-effective than any new fossil fuel alternatives.

Renewables are not only cost-competitive vis-a-vis fossil fuels but are advantageous by limiting dependence on international fuel markets and improving energy security. The business case for renewables is now stronger than ever.

While continued cost reductions are expected as technologies mature and supply chains strengthen, short-term challenges remain. Geopolitical shifts including trade tariffs, raw material bottlenecks, and evolving manufacturing dynamics, particularly in China, pose risks that could temporarily raise costs.

Higher costs are likely to persist in Europe and North America, driven by structural challenges such as permitting delays, limited grid capacity, and higher balance-of-system expenses. In contrast, regions like Asia, Africa, and South America, with stronger learning rates and high renewable potential, could see pronounced cost declines.

IRENA’s 2024 report also explores the structural cost drivers and market conditions shaping renewable investment. It concludes that stable and predictable revenue frameworks are essential to reduce investment risk and attract capital. 

Mitigating financing risk is central to scaling renewables in both mature and emerging markets. Instruments such as power purchase agreements (PPAs) play a pivotal role in accessing affordable finance, while inconsistent policy environments and opaque procurement processes undermine investor confidence.

Particularly, integration costs are emerging as a new constraint on deployment of renewables. Increasingly, wind and solar projects are delayed due to grid connection bottlenecks, slow permitting and costly local supply chains. This is acute in G20 and emerging markets, where grid investment must keep pace with rising electricity demand and the expansion of renewables.

Furthermore, financing costs remain a decisive factor in determining project viability. In many developing countries of the Global South, high capital costs, influenced by macroeconomic conditions and perceived investment risks, significantly inflate the levelized cost of electricity (LCOE) of renewables.

For example, IRENA found that while onshore wind generation costs were similar in Europe and Africa with around USD 0.052/kWh in 2024, the cost structures varied significantly. European projects were capital-expenditure driven, while African projects bore a much higher share of financing costs. IRENA’s assumed cost of capital ranged from 3.8% in Europe to 12% in Africa, reflecting differing perceived risk profiles.

Finally, technological advances beyond generation are also improving the economics of renewables. The cost of battery energy storage systems (BESS) has declined by 93% since 2010, reaching USD 192/kWh for utility-scale systems in 2024. This reduction is attributed to manufacturing scale-up, improved materials and optimised production techniques.

Battery storage, hybrid systems, combining solar, wind and BESS as well as digital technologies are increasingly vital for integrating variable renewable energy. Artificial intelligence (AI)-enabled digital tools are enhancing asset performance and grid responsiveness. However, digital infrastructure, flexibility, and grid expansion and modernisation remain pressing challenges, including in emerging markets, where the full potential of renewables cannot be realised without further investment.

Read the full report Renewable Power Generation Costs in 2024.

IRENA | https://www.irena.org/

GameChange Solar (GCS) and VDE Americas, a global leader in technical advisory and catastrophic risk assessment services for the solar power industry, released a study on the use of GameChange Solar Genius Tracker’s hail mitigation function. In the study “HailStow Performance in April 2025,” VDE evaluated the operation of GameChange Solar’s hail stow for a utility-scale solar facility in hail-prone Arkansas.  

The purpose of the study was to confirm the performance of GameChange Solar’s hail mitigation system, which can be installed to protect solar assets from catastrophic hail damage. For the study, VDE reviewed operational data during six storms that passed near the study site over a three-day period and met the criteria to trigger a hail stow. In all cases, the system successfully went to the desired steep stow angle, where solar panels are tilted to deflect direct hail impact. In the report, VDE notes, “For this study period, the HailStow system worked as designed, including processing hail warnings, issuing activation emails, and moving the trackers to hail stow position.”

Hail mitigation has been a genuine concern for owners and insurers of solar power plants throughout the United States and other hail-prone locations. As one of the top three global manufacturers of solar trackers, GameChange Solar has worked closely with VDE to develop a rigorously tested hail mitigation system, delivering advanced protection that helps safeguard assets, reduce risk, and support long-term performance.

“With hailstorms across the globe intensifying, it is critical to install hail mitigation systems – like GameChange’s Solar Genius Tracker HailStow – which are effective in reducing solar panel damage due to hail,” said Jon Previtali, VP and Senior Principal Engineer at VDE Americas. “In our role to protect and extend the economic value of solar assets, we continue to advocate for advanced weather alert services, proactive hail stow implementation and frequent testing of hail stow systems.”

“This successful validation by VDE is the result of a strong engineering partnership and a shared commitment to rigorous, real-world validation,” said Scott Van Pelt, Chief Engineer at GameChange Solar. “We developed the Genius Tracker HailStow to provide a fast, reliable response that helps protect solar infrastructure from catastrophic hail damage. By working closely with VDE, we ensure that our systems provide top tier hail protection, long-term asset reliability, and insurability in hail-prone regions.”

VDE Americas | www.vde.com/en/vde-americas

GameChange Solar | www.gamechangesolar.com

North American safety helmet innovator STUDSON announced that its flagship SHK-1 Full Brim safety helmet has achieved dual certification under both Canadian CSA Standard Z94.1-15 (R2024) and American ANSI/ISEA Z89.1-2014 (R2019) at the ASSP Safety 2025 Conference in Orlando. The groundbreaking achievement makes the SHK-1 the first Type II safety helmet of its kind to provide seamless compliance for workers operating across the U.S.-Canada border, addressing a critical safety compliance and operational challenge.

While helmet designs have evolved, many Canadian workers were still relying on outdated hard hat technologies. This new helmet represents a significant milestone in industrial safety, particularly for workers in the construction, oil and gas, forestry, and mining industries operating in Canada and across the US-Canadian border. To meet and exceed CSA Z94.1 while maintaining ANSI/ISEA Z89.1 certification standards, the project required rigorous materials testing, extensive structural analysis, and close collaboration with third-party certifiers to ensure compliance with impact, penetration, and environmental resistance criteria.

"It was clear the Canadian market needed more than a helmet—it needed a leap forward in protection, comfort, and performance, and the dual-certified SHK-1 fills that gap," said Ryan Barnes, founder and CEO, STUDSON.  “We are also solving a compliance problem that has plagued cross-border industrial operations for decades. Workers can bring the same STUDSON SHK-1 safety helmet they prefer to wear to the job site no matter what side of the border they are on.”

Joint CSA and ANSI/ISEA Certification

To achieve the dual certification, STUDSON worked closely with KOROYD, its provider of Advanced Impact Technology inside the helmet. KOROYD crumples on impact to absorb maximum force, reducing the risk of life-altering head injuries from both direct and angled impacts. The redesign required increased amounts of KOROYD material and a reduction in expanded polystyrene (EPS) foam, further improving upon the ventilation and breathability of the original SHK-1 Full Brim helmet.

"Engineering a helmet that excels under both testing protocols required innovative materials science and design optimization," said Chris Ellerby, director of industrial safety and defense, KOROYD. "KOROYD developed the impact protection system, using its expertise derived from engineering solutions across different verticals, that could perform optimally whether facing the focused impact of ANSI testing or the distributed loading of CSA protocols. The dual-performance capability makes the SHK-1 even more robust and protective under real-world impact scenarios.”

Building upon STUDSON's reputation for incorporating advanced protection technologies from action sports into industrial safety equipment, the helmet also integrates Twiceme technology that stores emergency contact details and critical medical information for first responders during emergencies, along with data for occupational health and safety managers to better track and manage safety helmet inventory and worker certifications for regulatory compliance.

The dual-certified helmet includes the same comfort and usability features found in existing SHK-1 safety helmets, including the rear dial-fit system for easy adjustment and the four-point chin strap system with Fidlock magnetic buckle for one-handed operation even with gloves. The Class C version features enhanced ventilation for comfort, and both the Class C and Class E are available in a low-profile, full-brim design. The dual-certified SHK-1 Full Brim safety helmet remains compatible with the full range of STUDSON accessories, including half shields, full-face mesh shields, telescoping headlamps, and ear defenders.

“The SHK-1 Full Brim for the Canadian market reflects a combination of advanced materials, worker insights, and an uncompromising focus on safety,” said Barnes. “Canada deserves the best in head protection. STUDSON is here to deliver it.”

To see samples of the dual-certified SHK-1 Full Brim safety helmet, along with its full lineup of above-the-neck personal protective equipment (PPE), visit the STUDSON booth at ASSP Safety 2025 at the Orlando Convention Center, booth #2301, July 22-24, 2025. 

Visitors can also see the SHK-1 featuring the buckle-free HighBar mono-chinstrap safety system, which will be available for purchase starting in October. 

The dual-certified SHK-1 will become available for purchase later this year.

STUDSON | https://studson.com/pages/dual-certification. 

Oklo Inc. (NYSE: OKLO), an advanced nuclear technology company, and Vertiv (NYSE: VRT), a global leader of critical digital infrastructure, announced a collaboration agreement focused on the co-development of advanced power and thermal management solutions tailored specifically for hyperscale and colocation data centers, powered by steam and electricity from Oklo’s advanced nuclear power plants. The pilot technology demonstration is planned for the initial Oklo Aurora powerhouse.

In response to surging data center power demand in the U.S., Oklo and Vertiv are joining forces to revolutionize data center operations through an integrated solution that co-optimizes power and cooling, with Oklo's reliable clean energy generation and Vertiv's specifically designed advanced power and thermal management systems. By leveraging heat from Oklo's onsite power plant to drive Vertiv's cooling systems, the collaboration will significantly enhance data center energy efficiency. This approach delivers resilient power for demanding AI and high-performance computing operations while reducing environmental impact. The companies will work together to produce end-to-end reference designs for data centers that use Oklo’s onsite power plants.

“This agreement is about delivering clean power, energy-efficient cooling, and infrastructure solutions purpose-built for AI factories, data centers, and high density compute,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “We are developing a plant concept that leverages proven, off-the-shelf components without altering the core design of our plants. Vertiv is an expert in cooling and power innovation for data centers and critical infrastructure, so co-designing these solutions from the outset, we can create greater value and efficiency for data center and infrastructure operators.”

Vertiv CEO Gio Albertazzi stated, “Our collaboration with Oklo is an extension of Vertiv’s commitment to energy-efficient infrastructure that supports modern data center demands. As the demand for AI and high-performance computing continues to grow, nuclear energy is increasingly a discussion point for hyperscale, colocation, and other large data centers. Vertiv is committed to driving innovation with the higher cooling capacities and energy efficiencies required to support modern data centers.”

Oklo’s approach to power generation is designed to adapt quickly to market needs, offering customers more usable energy and enabling seamless teamwork between the power source and data center operations. By co-designing energy and thermal management from the beginning, and by deploying at a site adjacent to customer demand, Oklo and Vertiv will deliver a unified solution that simplifies deployment and enables improved performance and energy efficiency of data centers. These capabilities are uniquely enabled by Oklo’s role as the owner and operator of its power plants, allowing for deeper integration with customer infrastructure and greater flexibility in how and where data centers are deployed.

“This partnership shows how Oklo is thinking about how and where advanced nuclear can be deployed,” added DeWitte. “We’re enhancing what already works to meet the needs of fast-growing industries with the speed, flexibility, and direct integration that our model is built to deliver.”

This collaboration marks an important step in exploring how advanced nuclear energy can support the evolving power and cooling needs of data centers and other high-growth sectors, an increasing emphasis in Oklo’s growing customer pipeline.

Oklo I https://www.oklo.com/overview/default.aspx

Vertiv | vertiv.com

GridBeyond, a global leader in smart energy management, and Gore Street Energy Storage Fund plc (LSE: GSF), a leading international energy storage investment fund, over the summer began operating the Big Rock Battery Energy Storage System (BESS) in El Centro, California. Bringing Big Rock live involved a large team of over 20 people coordinating across multiple countries and time zones, comprising data scientists, regulatory analysts and industrial control engineers. At 200 MW / 400 MWh, it is the largest asset managed by Gore Street Capital and GridBeyond and will dispatch power to roughly 200,000 homes in Southern California during peak times.

“This is an enormous battery system and an important source of resiliency to the state of California,” said Sean McEvoy, President of North America at GridBeyond. “As CAISO’s daily Regulation Up/Down requirement is often around 500MW-1200MW in total, this resource alone can provide up to 15%-40% of the state’s Regulation Services needs in certain hours.”

To ensure maximum return on investment and grid impact, GridBeyond was selected to provide trading and optimization services for the Big Rock BESS. Central to its offering is GridBeyond’s proprietary AI-based Bid Optimizer, which matches market price forecasts with real-time battery performance simulations to drive optimal bid strategies in the CAISO market.

“We are pleased to partner with a high-quality counterparty like GridBeyond on this landmark project, being able to capture revenues which outperform the market and tolling has been demonstrated by Gore Street for many years,” said Alex O’Cinneide, CEO of Gore Street Capital. “Big Rock is not only a critical part of California’s energy infrastructure, but also a strong example of our ability to deliver for investors at scale and across multiple international markets.”

The Big Rock BESS is underpinned by a 12-year fixed-price Resource Adequacy (RA) contract, valued at over USD 165 million over its term. Operated under this RA contract—secured by a Goldman Sachs subsidiary in October 2024—the facility is positioned to generate up to c.40% of its total project revenue through RA payments alone. The facility also benefits from stackable market participation, enabling it to tap multiple revenue streams, including energy arbitrage and ancillary services, as well as the RA contract.

GridBeyond | https://gridbeyond.com/

Soluna Holdings, Inc. (“Soluna” or the “Company”), (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, announced it has closed its latest round of financing from Spring Lane Capital (“SLC”) for a 35 megawatt (MW) expansion of Project Kati in Texas with Project Kati 1.

With these funds, Soluna will commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026.

“Spring Lane Capital has walked alongside Soluna on our path to growth since the beginning with an investment in Project Dorothy,” said John Belizaire, CEO of Soluna. “We expect these funds to fuel the construction of the first 35MW of the 83MW phase of Kati 1, which expands Soluna’s Texas fleet for Bitcoin Hosting.”

Key details

• Financial Structure and Equity Ownership: Soluna expects that the $20 million will fully cover the project’s funding needs, including working capital. Kati 1 continues the superior waterfall structure and enhanced management and development fees, allowing Soluna to benefit from substantial current income during the construction and operational phases.
• Construction Timeline: The parties intend to commence Project Kati 1 construction in Q3 2025, with the goal of achieving initial energization and ramp-up by Q1 2026.
• Capacity and Technology: The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs.
• SLC’s Expanded Financial Support: SLC and Soluna previously signed an agreement to extend up to $100M of additional project-level capital for Soluna’s growing data center pipeline for Bitcoin and AI, subject to certain conditions precedent.
• Fund 2 Investment: SLC deployed its capital from its second private equity fund, Spring Lane Capital Fund II, which is twice the size of its initial fund. The fund is lined up to provide up to $4 million in Development Expenditure (DevEx) financing for Soluna’s long-lead equipment purchases.
• Project Approvals: Kati 1 already has all the necessary ERCOT planning approvals. An ERCOT model update will be submitted at least 90 days before energization.

“We continue to invest in and be strategic supporters of Soluna because they continue to take steps toward sustainable high-performance computing and meeting green data center demand,” said Rob Day at Spring Lane Capital. “We’re looking forward to construction getting underway at Project Kati so that Soluna can continue expanding its green computing power.”

Soluna Holdings | www.solunacomputing.com

Envision Energy, a global leader in green technology, announced that it has executed two supply agreements to provide Lithium Iron Phosphate (LFP) containerised battery energy storage systems (BESS) for Field's Holmston and Drum Farm projects in Scotland. Each facility will provide 50 MW / 100 MWh of capacity to deliver electricity to the grid, providing vital flexibility services in a part of the grid subject to significant constraints to continue to accelerate the U.K.'s renewable energy transition. 

Construction on Field's Holmston project began this summer and construction at Field's Drum Farm will commence in early autumn, with both projects due for completion by the end of 2026. 

Henry Peng, Senior Vice President and President of Latin America and European Region, Envision Energy, said: "Scotland is a key market for Envision Energy, and our collaboration with Field demonstrates the trust in our technical expertise and proven solutions across battery energy storage.  These two projects build on our growing portfolio in the United Kingdom as we continue to provide our solutions and expertise to deliver net zero power solutions.  We are proud to bring our energy storage products tailored with a 15-year long-term service agreement to Scotland. These two projects demonstrate our deep commitment to supporting grid stability and accelerating the transition to renewables with safe, reliable, and scalable energy solutions."

Amit Gudka, CEO of Field, said: "Breaking ground at Holmston in South Ayrshire and soon at Drum Farm near Keith marks an important milestone for Field, as we work to accelerate the shift toward a cleaner, more secure energy system in Scotland and the wider UK. Battery storage in all its forms is a critical part of that journey, and we're pleased to be working with Envision Energy to deliver advanced solutions that will strengthen the grid and support the growth of renewables."  

Energy storage is rapidly expanding across the U.K. and Europe, playing a vital role in enabling a more sustainable energy system. With advanced battery technology and deep technical expertise, Envision is helping accelerate the integration of renewable generation while delivering essential capabilities such as grid-forming, black start functionality, and ancillary services that strengthen overall grid performance. Designed for safety, reliability, and long-term value, these systems support the transition to a flexible and resilient net-zero future.

Envision Energy | https://www.envision-group.com/