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Malaysian Prime Minister: This investment covers the development and operation of Googles first data center and cloud service infrastructure in Malaysia. Once operational, the project is expected to generate $3.2 billion in economic benefits and create 26,500 jobs by 2030.Malaysian Prime Minister: I held a video conference with Ruth Porat, President and Chief Investment Officer of Alphabet and Google, and her team. We discussed the progress of Googles $2 billion investment in Malaysia. The project is progressing well, exceeding initial expectations.February 26th - Japans birth rate is projected to decline for the tenth consecutive year in 2025, highlighting the demographic pressures facing Prime Minister Sanae Takaichi as she implements new measures to address the declining population. Preliminary population data released by the Ministry of Health, Labour and Welfare shows that the number of newborns in 2025 will decrease by 2.1% from the previous year to approximately 706,000. The number of deaths during the same period will decrease by 0.8% to approximately 1.6 million. Prior to the Liberal Democratic Party leadership election last October, Takaichi proposed tax breaks for nannies and domestic helpers, as well as tax incentives for companies establishing in-house childcare facilities. She also pledged to introduce a nationally recognized childcare worker qualification and improve wages and working conditions. At the opening of the current parliamentary session last week, Takaichi stated that the government would reduce costs related to pregnancy and childbirth, but these proposals have not yet been implemented. Some argue that compared to previous governments, the current administrations focus has shifted to other priorities such as national security and foreign policy. Hitoshi Kawada, the minister in charge of addressing the population decline issue, is also responsible for 11 other matters, including territorial disputes and food safety, raising questions about whether the issue of declining birthrates has been shelved.February 26th - According to Reuters, citing industry sources, suppliers to U.S. aerospace and semiconductor companies are facing a growing shortage of rare earth elements, with two suppliers even turning down some customer orders as a result. The shortage is primarily concentrated in rare earth elements such as yttrium and scandium, niche members of the 17-element family that play a small but crucial role in defense technology, aerospace, and semiconductors. Aerospace supply chain expert Kevin Michaels stated that while the yttrium shortage has not yet affected jet engine production, manufacturers are still concerned. Dylan Patel, founder and CEO of semiconductor research firm SemiAnalysis, said that U.S. semiconductor manufacturers scandium inventories are nearing depletion, which could jeopardize the production of next-generation 5G chips.The Hang Seng Tech Index continued its downward trend in the afternoon, falling more than 2%, with Horizon Robotics (09660.HK) and Hua Hong Semiconductor (01347.HK) leading the decline among constituent stocks. The Hang Seng Index is currently down 0.75%.

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

Charlie Brooks

Jul 15, 2022 10:35

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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.


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