EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The French Ministry of Finance has set a target of a budget deficit of 5.0% of GDP in 2027 and 5.4% in 2026.On September 19th, local time, Michael Mara was elected as the new leader of the Scottish Labour Party, succeeding Anas Saval who resigned. Mara received 4,266 votes, while his opponent, Joe Fagan, received 2,485. Mara stated that becoming the leader of the Scottish Labour Party was an "honor of my life" and pledged to work towards a fairer and more equitable Scotland. The Scottish Labour Party is facing a challenging situation. In the Scottish Parliament election in May, the party suffered a defeat, falling significantly behind the winning Scottish National Party.On September 19th, the German business daily Handelsblatt reported on Saturday that Volkswagens massive turnaround plan is expected to further cut more than 4,000 jobs at Porsche. Documents show that Volkswagens supervisory board recently approved an agreement aimed at advancing the companys largest restructuring plan to date. The documents state that the Porsche brand will cut "approximately 4,100 employees" to offset a shortfall of approximately €700 million in indirect costs. These layoffs will be "added on top of existing agreements." In July, Porsche management and labor representatives agreed to add 5,000 more jobs to the previously agreed-upon 4,000. Volkswagen lowered its full-year profit margin target on Friday, now expecting a maximum of only 1%, down from a previous range of 4.0% to 5.5%. This adjustment is primarily due to asset impairment at Porsche. Porsche CEO Michael Leiters is currently under pressure to develop a recovery strategy to address the sharp decline in market sales and the high costs associated with the automakers reversal of its electric vehicle strategy.The French draft budget projects that the debt-to-GDP ratio will reach 121.7% in 2027.The French draft budget projects that public spending will account for 56.9% of GDP in 2027 and 57.1% of GDP in 2026.

In the United States, solar costs increased by more than 8 percent in the second quarter

Charlie Brooks

Jul 15, 2022 10:35

79.png


According to a research published late on Wednesday, solar energy prices in the United States climbed by 8.1% in the second quarter as a result of an investigation by the Commerce Department into tariffs on Southeast Asian products and growing input costs.


According to a quarterly index that analyzes renewable energy transactions and is collected by LevelTen Energy, the increase amounted to a remarkable 29.7 percent increase in the overall price of wind and solar contracts, also known as power purchase agreements (PPAs), compared to the previous year.


Compared to the previous year, the cost of solar PPAs has climbed by 25.7%.


Since the Russian invasion of Ukraine, economic, logistical, and labor market problems caused by the coronavirus outbreak have intensified, undoing a decade of renewable energy industry cost reductions.


Wind contract expenditures grew by 2.5% during the quarter and have grown by 33.7% annually. Third-quarter wind energy costs in the Southwest Power Pool (NASDAQ:POOL) jumped by 16 percent due to a lack of transmission capacity. Some of the nation's most windy regions, including parts of Nebraska, Oklahoma, and Texas, are served by the grid operator.


LevelTen claimed that it was too soon to evaluate whether or not the decision by U.S. President Joe Biden in early June to waive tariffs on solar panels from the four Asian countries included in the probe for two years will alleviate some of the cost pressure.


In a survey of fifty developers conducted by the firm, around one-third responded that they wanted additional assurances that tariffs would not be applied retroactively if the Commerce Department were to implement them after the two-year wait.


LevelTen reports that the rising cost of wind and solar contracts for corporate and utility buyers has mirrored the rising cost of natural gas-related wholesale energy prices.


Suggestion