Unprecedented, accelerating takeoff!
There are more institutions and companies that are optimistic about renewable energy, especially the photovoltaic industry, in 2024. Most people believe that this round of eliminations will end soon. Of course, the prices in 2022 and the first half of 2023 may not be the same again. The person in charge of the component company mentioned at the beginning of the article said that in 2024, the average component price can be maintained at least around 1.03-1.05 yuan/W.
In June this year, SolarPower Europe released a report titled "Global Solar Energy Market Outlook 2023-2027". The first sentence is: "Solar energy is on the fast track."
The report noted that “this solar boom follows more modest progress in previous years”—even amid pandemic-induced lockdowns, supply chain turmoil, and high product prices. Global new photovoltaic installed capacity still maintains a growth rate of 18-19%, which fully reflects the very strong resilience of the solar industry even in difficult times.
This is thanks to solar’s unparalleled versatility – powering personal energy self-sufficiency and deploying utility-scale projects relatively quickly at competitive low costs. Although solar's levelized cost of electricity (LCOE) fell for the first time due to supply chain issues and inflation, solar power remains much cheaper than new fossil fuel and nuclear power.trina solar panels