Solar Energy technologies and markets. Eero Vartiainen Fortum HESS Solar

Transcription

1 Solar Energy technologies and markets Eero Vartiainen Fortum HESS Solar

2 Transition towards Solar Economy High Resource & system efficiency Traditional energy production Exhaustible fuels that burden the environment CHP Advanced energy production Energy efficient and/or low-emission production Solar Economy Solar based production with high overall system efficiency Nuclear tomorrow Hydro Geothermal Bio Ocean Sun Wind Low Oil Coal Gas CCS Nuclear today Finite fuel resources Large CO2 emissions Infinite fuel resources Emissions free production 2 Copyright Fortum Corporation

3 Solar energy availability Global horizontal irradiation (kwh/m 2 per year) Total amount of solar energy incident on the surface of the Earth is 800 million TWh per year. That is about 5000 times the annual global primary energy demand. Source: Research Institute for Solar Energy 3

4 Solar energy availability in Europe Yearly solar horizontal irradiation availability in Europe kwh/m Diffuse Beam Sicily Rome Nice Paris Holland London Copenhagen Helsinki Jyväskylä Sodankylä Source: Beam direct sun and diffuse sky irradiation calculated from European Test Reference Years 4

5 Monthly solar electricity for Helsinki and Sicily Monthly PV production (kwh/kw p ) Helsinki Sicily

6 How much electricity could be produced in theory? With PV modules of 16% average efficiency, a module area of 24 km x 24 km would be needed to produce the annual electricity consumption in Finland. To produce all world s electrity consumption, an area equal to 40% of Finland would be needed. 6 Assumptions: Annual electricity consumption Finland 83 TWh, the world TWh; Finland s area km 2 ; annual PV utilisation 900 kwh/kw p ;

7 How much solar PV would fit in the Finnish market? About 20% of the Finnish electricity consumption could be produced with PV without significant surplus With a small storage, the penetration of PV could be increased to 40% Increasing PV penetration much higher than 50 % requires seasonal storage The economically optimal storage size increases with the lowering storage cost Useful PV production / electrcity consumption (%) kwh/kwp 2 kwh/kwp 1 kwh/kwp no storage Annual PV production / electricity consumption (%) Calculation is made with Helsinki weather data and hourly Finnish electricity consumption (annual sum 82 TWh). 7

8 Main solar energy technologies for power and heat production Photovoltaics, PV/CPV Concentrating Solar Power, CSP Solar Thermal, ST Power Residential to utility scale Power & heat Mainly utility scale Heat & cooling Residential to comm. scale 8

9 Characteristics of solar energy conversion technologies Photovoltaics (PV) global installed capacity 220 GW p (as of October 2015) Can utilise both direct beam sunlight and diffuse skylight Crystalline silicon cells (90% of the current PV market) Thin film cells (10% of the current PV market) Organic and dye-sensitised cells (laboratory to pilots) Concentrating solar thermal power (CSP) installed capacity 5 GW p Partially conventional technology with steam turbines, requires high direct sunlight Concentrating Photovoltaics (CPV) mainly pilot projects, installed capacity 0.3 GW p High efficiency systems with lenses, requires high direct sunlight Solar thermal heating systems installed capacity 300 GW th Collector systems that heat air or water China the biggest market by far 9

10 Solar PV cell technologies and typical module efficiencies Monocrystalline silicon 16-22% Multicrystalline silicon 14-18% Thin film 7-16% Polymer < 10% Dye-sensitised < 10% Concentrating PV 30-35% 10

11 Solar PV cell efficiency development 11

12 Concentrating PV (CPV) To increase the efficiency of PV, it is possible to join together several thin layers of semiconductors that each capture a different wavelength of the solar spectrum. Best 3-junction cells (Ge/GaInAs/GaInP) exceed 40% efficiency. New 4-junction cells are expected to reach 50%. These cells are expensive and to reduce material cost, they are used with concentrator systems (lenses and mirrors). Concentration ratios can be up to 1000X which means that only 10 cm 2 of cell is needed for 1 m 2 module. Concentrating PV requires high direct sunlight and a sun-tracking device. 12

13 Concentrating solar (thermal) power (CSP) Another way of utilising direct sunlight with tracking systems is concentrating solar thermal power (CSP). Reflectors are used to concentrate sunlight to a receiver and heat a medium (syntethic oil, water or molten salt) which in turn will heat up steam that is driven to turbine to generate electricity. Typical solar-to-electric efficiencies range from 15% (throughs) to 25% (dishes). A benefit of CSP is that heat can be stored or backup fuels used to generate electricity when the sun is not shining. A CSP tower with a molten salt storage 13

14 CSP reflector systems Parabolic throughs and linear Fresnel reflectors (LFR) have a line focus. Throughs have a mobile receiver whereas LFR receiver is fixed. Parabolic through Linear Fresnel reflector Solar towers and parabolic dishes have a point focus. Tower receiver is fixed whereas dishes are mobile and have an independent engine/generator (such as Stirling engine or microturbine) Solar tower with heliostats Parabolic dishes 14

15 Solar thermal heating Solar collectors can be used to produce domestic hot water. When the sun is shining, cold water is heated in the collectors and the heat is transferred to the storage tank. Space heating by solar heat is limited because the heat load is small during the summer. However, it is possible to utilise passive solar heating and daylighting during winter. 15

16 Annual solar PV market to grow above 50 GW p in 2015 Annual market (GW p ) Forecast Other Australia India Japan USA China R. of Europe Spain France UK Italy Germany China will stay the biggest market, Japan boom still continues, USA growing steadily. UK the biggest European market European market share has decreased from 75% in 2011 to about 15% in 2015 India is likely to be the second largest market after China by 2017, Japan and USA will have uncertainty after changes in subsidies 16 Source: Global market outlook for solar power (SolarPower Europe, 6/2015)

17 Global cumulative capacity will be doubled again in four years Cumulative capacity (GW p ) Forecast Other Australia India Japan USA China R. of Europe Spain France UK Italy Germany Cumulative capacity will be doubled again from 2015 to 2019 European share of cumulative capacity decreased below 50% at the end of 2014 China has surpassed Germany s cumulative capacity in 2015 Germany and Italy are already generating 7-8% of their electricity consumption with PV Source: Global market outlook for solar power (SolarPower Europe, 6/2015)

18 Solar PV (multicrystalline silicon) manufacturing process PV (large) system price breakdown Silicon Wafering Cell making Module assembly Balance of System Balance of system includes all other system components except the module: inverters, cables, mounting, installation work etc. 18

19 Top10 PV module manufacturers Top10 manufacturers Annual production (GW p ) Yingli Green Energy Trina Solar Canadian Solar JA Solar Jinko Solar First Solar Hanwha SolarOne Kyocera Suntech Power ReneSola Data source: PV magazine 7,9/

20 Top10 crystalline silicon cell manufacturers Top10 manufacturers Annual production (GW p ) JA Solar Trina Solar Yingli Green Energy Hanwha SolarOne Neo Solar Power Jinko Solar Motech Industries Gintech Energy Canadian Solar Hareon Solar Data source: PV magazine 5/

21 PV module spot market price decreased by 80% during ,0 German spot market price for PV modules PV module price (euro/wp) 2,5 2,0 1,5 1,0 0,5 0,0 Factory gate c-si Mono c-si Multi c-si a-si CdTe Sources: Photon International, PV magazine 21

22 Polysilicon spot price has now stabilised to about 15 USD/kg 500 Virgin polysilicon price ($/kg) Sources: Photon International, PV magazine 22

23 German PV rooftop system (< 10 kw p ) price development 6 PV ystem price (EUR/W) Data source: German Solar Industry Association (BSW) 23

24 Energy payback time of PV has decreased significantly Energy payback time development according to different studies during Energy payback time (years) Source: Update of energy payback time data for crystalline silicon PV modules (Thomas Wetzel, 26th European PVSEC, 2011) 24

25 Energy payback time depends on the solar conditions Energy payback time for crystalline silicon modules at various locations Energy payback time (years) 2 1,5 1 0,5 0 Monocrystalline Multicrystalline Sun belt South Europe Germany 25 Source: Update of energy payback time data for crystalline silicon PV modules (Thomas Wetzel, 26th European PVSEC, 2011) Solar PV electricity production: Sunbelt 1800, South Europe 1275, Germany 1000 kwh/kw peak

26 Average PV lifetime CO 2 emissions compared with average European and Fortum generation mix 350 CO2 emissions g/kwh Average European mix 2010 Fortum average mix 2010 Fortum European average mix 2010 PV South Italy, manuf. with European average mix PV in South Italy, manuf. with Fortum average mix PV in South Italy, manuf. with Fortum EU average mix PV in Nordic, manuf. with European average mix PV in Nordic, manuf. with Fortum average mix PV in Nordic, manuf. with Fortum EU average mix 26

27 PV Competitiveness: Levelised Cost of Electricity (LCOE) PV LCOE is defined as the average generation cost, i.e., including all costs involved in supplying PV at the point of connection to the grid: PV LCOE = n t=1 ] CCCCC + [OOOO(t)/(1 + WWWW NNN ) t n [UUUUUUUUUUU 0 1 DDDDDDDDDDD t / (1 + WWWW RRRR ) t ] t=1 where WACC Real = (1 + WACC Nom ) / (1 + Inflation) - 1 Net present value (NPV) for the investment with nominal WACC is zero when valuing the generated electricity for the real LCOE. 27 E.g., 5% real WACC equals 7.1% nominal WACC with 2% annual inflation

28 What are the main drivers affecting PV LCOE? Input parameters studied Values (base value in bold) Market segment 5 and 50 kw p, 1 and 50 MW p Location SPA, ITA, FRA, GER, UK, SWE Real cost of capital (WACC) 2/5/8% per a for large-scale Operational expenditure 0/10/20/30/40 /kw p per a Capital expenditure -20%/-10%/base/+10%/+20% Market growth 0/10/15% CAGR Learning rate 16/20/24% Exchange rate 1.00/1.33/1.60 USD/ Module efficiency improvement 0.2/0.4/0.6%-points per a Module degradation 0/0.25/0.5/0.75/1.0% per a System lifetime 20/25/30/35/40 a 28

29 Historical learning rate for PV modules is about 20% Every time the global cumulative PV capacity has doubled, module price has reduced by 20% 29 Source: International Technology Roadmap for Photovoltaic, 2014 results (April 2015)

30 Average USD to EUR ratio of 1.33 is used here 1,6 1,5 1,4 USD/ 1,3 1,2 1,1 1, Source: PV LCOE in Europe , EU PV Technology Platform (June 2015)

31 Annual market volume in the Base case is about 350 GW p in 2050 Annual PV shipments (GW p ) Fast growth Base case Slow growth For , SolarPower Europe (6/2015) high, medium and low scenarios are used Base scenario: according to IEA Technology roadmap for PV (2014) (10% CAGR); 2.5% CAGR after 2030 Slow scenario: 50 GW p annually ; 2.5% CAGR after 2030 Fast scenario: 15% CAGR ; 2.5% CAGR after 2030 For , replacement installations according to volumes are added 31

32 Cumulative market volume in the Base case ~7000 GW p by 2050 Cumulative PV shipments (GW p ) Fast growth Base case Slow growth For , SolarPower Europe (6/2015) high, medium and low scenarios are used Base scenario: according to IEA Technology roadmap for PV (2014) (10% CAGR); 2.5% CAGR after 2030 Slow scenario: 50 GW p annually ; 2.5% CAGR after 2030 Fast scenario: 15% CAGR ; 2.5% CAGR after 2030 For , replacement installations according to volumes are added 32

33 Global solar generation will grow from 1% to at least 25% of the electricity consumption Global solar generation Annual generation (TWh) * 33 Source: IEA Solar Photovoltaic Energy Technology Roadmap (2014); *) Solar PV + CSP (according to IEA roadmaps) Global electricity consumption 2014: TWh, 2050: TWh

34 Renewable sources could provide about 80% of global electricity consumption by 2050 Cumulative technology contributions to power sector emission reductions in IEA ETP hi-ren Scenario, relative to 6DS (business-as-usual scenario) up to 2050 Cumulative technology contributions up to 2050 Solar PV 21 % Fuel switching 3 % Nuclear 3 % Other renewables 2 % Efficiency improvements 24 % CCS 5 % Hydro 6 % Biomass 7 % Solar CSP 9 % On-shore wind 14 % Off-shore wind 6 % 34 Source: IEA Solar Photovoltaic Energy Technology Roadmap (2014)

35 Average PV module price in Europe most likely halved by 2030 and reduced to one third by ,6 Average module price ( /W p ) 0,5 0,4 0,3 0,2 0,1 Slow growth Base Fast growth 0, Price estimation based on the three cumulative volume scenarios and historic 20% learning curve 35 Sources: PV LCOE in Europe (EU PV Technology Platform, June 2015); PV LCOE in Europe (Vartiainen et al., 31 st EU PVSEC, Sept. 2015); Prices in 2015 real money

36 Average BoS price in Europe will reduce by about 35% by 2030 and by about 55% by 2050 BoS component /kw p in 2015 Area-related share in 2015 Area-related /kw p in 2015 /kw p in 2030 /kw p in 2050 Inverter % Mounting structure % Installation work % DC cables % Grid connection 60 0 % Infrastructure % Planning & documentation % Transformer 20 0 % Switch gear 5 0 % Total BoS % Source: Agora Energiewende/Fraunhofer ISE report 'Future cost of PV in 2050'; for a 1 MWp ground-mounted system in Germany

37 System prices in 2015 for various market segments (in Germany) PV system price ( /kw p ) BoS Module kwp 50 kwp 1 MWp 50 MWp 37 Source: PV LCOE in Europe , EU PV Technology Platform (June 2015)

38 System prices for a 1 MW p system in the Base case 1,0 PV system price ( /W p ) 0,8 0,6 0,4 0,2 BoS Module 0, Sources: PV LCOE in Europe (EU PV Technology Platform, June 2015); PV LCOE in Europe (Vartiainen et al., 31 st EU PVSEC, Sept. 2015); Prices in 2015 real money

39 Utility-scale PV turnkey system (50 MW p ) CAPEX price will reduce by 40-50% by 2030 and by 60-70% by ,8 PV system price for utility-scale ( /Wp) 0,7 0,6 0,5 0,4 0,3 0,2 0,1 Slow growth Base Fast growth 0, Sources: PV LCOE in Europe (EU PV Technology Platform, June 2015); PV LCOE in Europe (Vartiainen et al., 31 st EU PVSEC, Sept. 2015); Prices in 2015 real money

40 Full O&M price development in Italy O&M price ( /kwp/year) Monitoring Preventive maintenance Additional maintenance Security Management & Billing Full Service O&M * Source: Bloomberg New Energy Finance (12/2013), 2015 preliminary estimation by BNEF 6/

41 PV OPEX prices will be about halved from 2015 to OPEX ( /kw p /a) OPEX price for a utility-scale PV system (50 MW p ) is about 25% lower than this 41 Sources: PV LCOE in Europe (EU PV Technology Platform, June 2015); PV LCOE in Europe (Vartiainen et al., 31 st EU PVSEC, Sept. 2015); Prices in 2015 real money

42 Main driver behind future PV cost reduction is efficiency: Average PV module efficiency will almost double by % 25% Average module efficiency 20% 15% 10% 5% 0% Historically, average module efficiency has improved by 0.4%-points per year = Best commercial PV module efficiencies in 2015 (SolarCity, Panasonic, SunPower) 42 Sources: PV LCOE in Europe (EU PV Technology Platform, June 2015); Fraunhofer ISE Photovoltaics Report (2014)

43 Utilisation in European locations Irradiation (kwh/m 2 ) Utilisation 2015 (h) Utilisation 2030 (h) GHI 30⁰ South tilt Rooftop Ground Rooftop Ground Stockholm / Helsinki London Munich Toulouse Rome Malaga Irradiation source: Geomodel Solar SolarGIS database (2015); Performance ratios: EU PV Technology Platform Note that performance ratios (PRs) are expected to increase by 7.5% points from 2015 to 2030 due to, e.g., lower temperature coefficients and better low-light performance of the modules, and higher inverter efficiencies Utilisation figures do not include degradation; applying 0.5% annual degradation will reduce the average utilisation over 30 years by 7% from these figures. 43

44 PV LCOE in Europe for a residential 5 kw p system (with VAT) PV LCOE ( /MWh) for 5 kw p London/ Stockholm/ Helsinki Munich Toulouse Rome Malaga Additional CAPEX with 4% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 20 OPEX Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

45 PV LCOE in Europe for a commercial 50 kw p system (w/o VAT) PV LCOE ( /MWh) for 50 kw p London/ Stockholm/ Helsinki Munich Toulouse Rome Malaga Additional CAPEX with 6% real WACC Additional CAPEX with 4% real WACC Additional CAPEX with 2% real WACC 40 CAPEX with 0% real WACC 20 0 OPEX Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

46 PV LCOE in Europe for a 1 MW p system (w/o company taxes) PV LCOE ( /MWh) for 1 MW p London/ Stockholm/ Helsinki Munich Toulouse Rome Malaga Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC 20 CAPEX with 0% real WACC OPEX 46 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

47 PV LCOE in Europe for a 50 MW p system (w/o company taxes) PV LCOE ( /MWh) for 50 MW p London/ Stockholm/ Helsinki Munich Toulouse Rome Malaga Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC OPEX 47 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

48 Sensitivity on market growth (1 MWp system in Tolouse) PV LCOE ( /MWh) for 1 MWp Slow Base Fast Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 0 OPEX Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

49 Sensitivity on CAPEX (1 MWp system in Tolouse) PV LCOE ( /MWh) for 1 MWp Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 0-20% -10% Base +10% +20% -20% -10% Base +10% +20% -20% -10% Base +10% +20% -20% -10% Base +10% +20% -20% -10% Base +10% +20% OPEX 49 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

50 Sensitivity on OPEX (1 MWp system in Tolouse) PV LCOE ( /MWh) for 1 MWp Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 0 0 /kwp 10 /kwp 20 /kwp 30 /kwp 40 /kwp 0 /kwp 9 /kwp 18 /kwp 27 /kwp 36 /kwp 0 /kwp 7 /kwp 14 /kwp 21 /kwp 28 /kwp 0 /kwp 6 /kwp 12 /kwp 18 /kwp 24 /kwp 0 /kwp 5 /kwp 10 /kwp 15 /kwp 20 /kwp OPEX 50 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

51 Sensitivity on lifetime (1 MWp system in Tolouse) PV LCOE ( /MWh) for 1 MWp Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 0 20 y 25 y 30 y 35 y 40 y 20 y 25 y 30 y 35 y 40 y 20 y 25 y 30 y 35 y 40 y 20 y 25 y 30 y 35 y 40 y 20 y 25 y 30 y 35 y 40 y OPEX 51 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

52 Sensitivity on degradation (1 MWp system in Tolouse) PV LCOE ( /MWh) for 1 MWp Additional CAPEX with 8% real WACC Additional CAPEX with 5% real WACC Additional CAPEX with 2% real WACC CAPEX with 0% real WACC 0 0%/a 0,25%/a 0,5%/a 0,75%/a 1%/a 0%/a 0,25%/a 0,5%/a 0,75%/a 1%/a 0%/a 0,25%/a 0,5%/a 0,75%/a 1%/a 0%/a 0,25%/a 0,5%/a 0,75%/a 1%/a 0%/a 0,25%/a 0,5%/a 0,75%/a 1%/a OPEX 52 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015) Prices in 2015 real money

53 Summary of the sensitivity analysis Location (Malaga/Stockholm) Real WACC (2%/8%) OPEX (-/+50%) CAPEX (-/+20%) Market growth (fast/slow) Learning rate (24%/16%) Currency rate (1.6/1.0 /USD) Efficiency increase (0.6%/0.2%) Lifetime (35/25 years) Degradation (0.25%/0.75%) Sensitivity of LCOE (%) Comparison with a 1 MWp system in Toulouse with a 5% real WACC, base CAPEX and OPEX, 20% learning rate, 1.33 USD/ currency rate, 0.4% point annual efficiency increase, 30 years lifetime and 0.5% annual degradation 53 Sources: EU PV Technology Platform PV LCOE report (7/2015) and PVSEC paper (9/2015)

54 Conclusions: PV will be competitive by 2030 in most markets PV already competitive with retail electricity all over Europe, by 2050 it will be the least cost option almost anywhere Location and cost of capital have the biggest influence on PV LCOE Uncertainty in OPEX is at least as significant as in CAPEX, volume growth and learning rate have a relatively small impact It is most urgent for the policy makers to create a stable environment for investments, in order to decrease the cost of capital and thus the LCOE of PV 54

55 Largest solar PV plants are already bigger than 500 MW p Agua Caliente PV plant (290 MW p ) Arizona, US 55

56 Solat district heating in Denmark 56 Source: Ramboll

57 Fortum business in solar energy Solar kits for residential customers B2C Launched 2012 in Finland and Sweden Fortum as interface to the customer and system integrator of turn-key solutions Standardized solar kits of 6, 9 12 or 18 panels 1.3 to 3.8 kw Solar solutions for commercial customers B2B > 20 kw tailored systems for commercial customers Fortum as energy partner offering turnkey solutions according to facility specs and customer needs Supply and installations in cooperation with 2-4 trusted partners Buyback of surplus production Fortum buys back surplus energy from solar energy systems Price is linked to NordPool spot-price Fortum commission (0.003 euro/kwh) Remote readable and hourly measurement based energy meter is required Energy producer with large scale solar energy farms Fortum is seeking for growth opportunities in countries with good solar energy resources and synergies for other Fortum growth initiatives Fortum as owner and operator of solar power plants. Typical size > 5 MW In June 2013, Fortum acquired a 5.4 MW solar power plant in India In January 2015, Fortum commissioned a 12 MW solar plant in India 57

58 First steps in Rajasthan, India Amrit 5.4 MW p PV plant Commissioned March 2012 Fortum acquisition June 2013 Utilisation 1760 kwh/kw p /a First Solar modules and SMA inverters

59 Second PV plant in Madhya Pradesh, India Kapeli 12 MW p PV plant Fortum-built and -owned PV plant, inauguration January 2015 Utilisation kwh/kw p /a fixed-mounted CdTe thin film PV modules and 15 solar inverters

60 Fortum solar projects 20 kw p Café Carusel (Helsinki) Commissioning 2013 Annual yield kwh Peak power 19.6 kw 80 Naps 245 W PV modules 2 SMA inverters 60

61 61 Fortum solar projects: Glava Energy Center in Sweden a 208 kw p PV system connected to Fortum s former grid

62 62 Fortum solar projects: Espoo City car depot in Finland - a 55 kw p PV system to charge electric vehicles

63 63 First PV system (1.8 kw p ) sold by Fortum in Finland installed

64 Almost 50 % of 2014 generation (1300 kwh) was sold to the grid Solar PV generation (kwh) Sold to the grid Own consumption 0 Jan Feb Mar Apr May Jun Juil Aug Sep Oct Nov Dec 64

65 Thank you for attention! About solar PV modules (~ 10 MW p ) were installed in the world during these 1.5 hours. eero.vartiainen@fortum.com