The annual report recently released by the International Energy Agency shows that global new installed solar photovoltaic capacity is expected to reach 375 GW in 2023, with total installed capacity increasing by 31.8% year-on-year. Judging from the situation of various countries and regions, China's newly installed solar photovoltaic capacity in 2023 is equivalent to the global new installed solar photovoltaic capacity in the previous year. Dimitrios, head of the World Bank's energy sector, believes that developing the solar photovoltaic industry is crucial to combating climate change and promoting energy transition.

global photovoltaic industry

The advantages of photovoltaic industry are more prominent

At the 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change held last year, the development of solar energy was one of the focuses of discussion by all parties. The agreement reached at COP28 mentioned for the first time the cost reduction and technological innovation of solar, wind energy and energy storage technologies, affirming that their development will help achieve the goals of combating climate change, and calling on all countries to make progress in the energy system in a fair, orderly and equitable manner. Targeted transition away from fossil fuels.

In recent years, the global photovoltaic industry has accelerated its development. Relevant statistics show that from 2019 to 2023, the average annual growth rate of global photovoltaic power generation installed capacity will reach 28%. Consultancy Wood Mackenzie said solar energy has become the most cost-effective energy source in most countries. In 2023, global installed photovoltaic power generation capacity will exceed hydropower. In the next 10 years, the photovoltaic industry will still maintain a high growth rate.

Sonia Dunlop, CEO of the Global Solar Council, said that solar energy is currently the fastest-growing and most profitable renewable energy source. To triple the global installed capacity of renewable energy by 2030, solar photovoltaic technology is the most important energy transition technologies. A report recently released by the University of Exeter in the UK believes that solar energy will become the most competitive energy source in the next few years. According to forecasts, photovoltaic power generation will account for more than half of global power generation by 2044.

Reports from the International Energy Agency and other organizations show that there are still 675 million people around the world who do not have access to electricity, about 80% of which are concentrated in sub-Saharan Africa. Munasinghe, former vice chairman of the United Nations Intergovernmental Panel on Climate Change, said that sustainable development is an important challenge facing human society. Solar photovoltaic technology continues to innovate and its advantages are highlighted, providing options for developing countries to pursue sustainable economic development, energy transformation and environmental protection.

global photovoltaic industry

Countries actively promote the application of technology

In recent years, many countries around the world have introduced various policies and measures to accelerate the pace of energy transformation and actively develop the solar photovoltaic industry.

Middle Eastern countries have abundant solar energy resources. The UAE has proposed a goal of achieving carbon neutrality by 2050. In November 2023, the Al Dhafra PV2 photovoltaic power station project in the United Arab Emirates was connected to the grid to generate electricity. The power station can meet the electricity needs of 200,000 residents and will reduce carbon emissions by 2.4 million tons per year, increasing the proportion of clean energy in the UAE's energy structure to more than 13%. Saudi Arabia proposed in its "2030 Vision" that it will reach 40 gigawatts of photovoltaic power generation installed capacity by 2030 and invest 380 billion riyals (1 riyal is approximately 1.91 yuan) in renewable energy projects. Qatar has proposed that the proportion of solar power generation will reach 20% by 2030. In November 2022, Qatar's first photovoltaic power station, Alcazar Power Station, was officially put into operation. The power station can meet 10% of Qatar's peak power demand. David Ramos, head of the sustainable development department of HSBC Middle East, said that Middle East countries have broad prospects for developing renewable energy represented by solar energy.

The "2023 Outlook Report" released by the African Solar Energy Industry Association last year showed that the photovoltaic industry in Africa is accelerating development. Countries such as South Africa, Morocco, and Egypt are in the leading position in photovoltaic construction projects. For example, Egypt proposed in the "2035 Comprehensive Sustainable Energy Strategy" that the installed renewable energy power generation capacity will reach 61 GW by 2035, of which the installed photovoltaic power generation capacity will reach 43 GW. At the same time, more regional countries such as Cape Verde, Botswana, and Eritrea are increasing investment in the photovoltaic industry and starting to build and operate large-scale photovoltaic projects.

The EU photovoltaic industry has also achieved rapid growth in recent years. According to a report released by the European Photovoltaic Industry Association, the EU's new installed photovoltaic capacity is expected to reach 56 GW in 2023, maintaining an annual growth rate of more than 40% for the third consecutive year; the total installed photovoltaic power generation capacity is expected to double before 2026, reaching Expected 484 GW.

A report from the University of Exeter believes that the rapid development of the global photovoltaic industry is mainly due to two factors. On the one hand, relevant countries have successively introduced policies and measures to support the photovoltaic industry, and on the other hand, the price of photovoltaic modules has dropped significantly. From 2010 to 2022, the global average weighted cost of solar power decreased by 89%, to $0.049/kWh, which is almost 1/3 lower than the cheapest fossil fuel.

A recent special article published on the World Bank website stated that by 2030, photovoltaic microgrids can provide uninterrupted electricity to 380 million people. However, current investment in global power grid infrastructure is still severely insufficient. Relevant countries need to formulate appropriate policies and measures to promote inclusive finance and encourage private investment. The international community needs to increase efforts to support developing countries in building energy infrastructure and promoting energy structure transformation.

global photovoltaic industry

China supports global green development

The Francisco Pizarro Solar Power Plant located in the Extremadura Autonomous Region of Spain will be put into use in 2022. It is one of the largest operational photovoltaic power plants in Europe. The solar panels used in the power plant all come from China; In Garissa County, Kenya, the Garissa photovoltaic power station built by a Chinese company has effectively solved the local electricity shortage problem and continues to provide clean electricity to the local people...

In recent years, Bank of China has participated in the Al Dhafra PV2 photovoltaic power station project in the United Arab Emirates, the Sakaka 300 MW photovoltaic project in Saudi Arabia, etc., and last year successfully issued a US$500 million green bond with the theme of jointly building the "Belt and Road". Pan Xinyuan, President of Bank of China Dubai Branch, said that as the world's largest producer of photovoltaic modules, China has a leading advantage in the construction of photovoltaic projects. As a "bridge" connecting production capacity and demand, Chinese banks can play an active role in promoting the global energy transition.

Fatih Birol, Director of the International Energy Agency, said that China has made outstanding achievements in the development of clean energy such as solar energy and wind energy and the electric vehicle industry, and "is the champion in the field of clean energy." Sultan Al-Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates and Chairman of COP28, said that China’s continued leadership in clean energy technology is an important factor in helping achieve global energy transformation, combat climate change, and promote development.

Xiao Jinyu, deputy director of the Economic and Technical Research Institute of the Global Energy Internet Development and Cooperation Organization, said in an interview with this reporter that China has accelerated the development of renewable energy to the level of ensuring national energy security and strengthening the construction of ecological civilization, and has achieved a leapfrog in a short period of time. develop. It is precisely because of China's vigorous development of renewable energy that the global cost of solar power generation has dropped by nearly 90% in recent years, and the cost of wind power has dropped by 80%.

Ahmed Mohamed Masina, Deputy Minister of Electricity and Renewable Energy of Egypt, said that China’s plan is of great significance to global energy transformation and climate governance, and will promote energy transformation, promote economic development, and improve ecology for African and Arab countries. The environment provides feasible solutions. Eric Solheim, Vice Chairman of the International Alliance for Green Development along the Belt and Road and former Deputy Secretary-General of the United Nations, said that China has made great contributions to the development of global renewable energy and has also contributed to the economic development and green and low-carbon development of developing countries. Transformation brings innovation drive.