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China’s photovoltaic industry plays an increasingly important role in the world

solar panel

As the global demand for sustainable energy increases, the photovoltaic industry is also developing rapidly, and more and more people are accepting and installing this solar system. And it is expected that the PV solar industry will maintain rapid growth in the next 10 years. According to the 2023 annual report of the International Energy Agency, the global solar power generation capacity will reach 375 GW in 2023, an increase of more than 30% year-on-year, and it is expected that by 2027, the global cumulative photovoltaic installed capacity will exceed coal. The competition between new energy and traditional coal power generation is also becoming increasingly fierce.

China is not only the world's largest photovoltaic market and product supplier, but also ranks first in application and products. China's solar product exports in 2023 will total about US$48.48 billion, of which silicon wafers, battery cells, and modules will increase by 93.6%, 65.5%, and 37.9% year-on-year, respectively.
China also has many photovoltaic products, including monocrystalline silicon, bicrystalline silicon, and Longyan cadmium telluride thin film, and the photoelectric conversion rate technology is constantly being updated.
pv solar

One of the key factors for China's photovoltaic industry to achieve global leadership is the continuous innovation of technology. The trend of suppressing China's photovoltaic industry in Europe and the United States is becoming increasingly obvious, which requires China's photovoltaic industry to further enhance its competitiveness and innovation capabilities.

Since 2003, the Chinese government has introduced a series of policies and measures to support the photovoltaic industry,

including financial subsidies, preferential taxation, and priority purchase of electricity, creating a good environment for the development of the photovoltaic industry. Overall, the future development of the photovoltaic industry is full of potential, and China, with its leading position in the global photovoltaic industry, will continue to play an important role in the development of the global economy.
Post time: Jul-24-2024