World Photovoltaic Power Generation Trends

World Photovoltaic Power Generation Trends

With the awareness of sustainable development being deeply rooted in the hearts of the people all over the world, the scale of comprehensive utilization of photovoltaic power generation in the world is rapidly expanding, the technology is constantly developing, and the cost is significantly reduced, showing a good development prospect. Many countries regard photovoltaic power generation as a key new industry. Photovoltaic power generation has been widely used. From 2001 to 2017, the photovoltaic industry developed at an astonishing speed. The world's total installed capacity rose from 1.250GW to 304.300GW, with a compound annual growth rate of 40.98%. China's photovoltaic industry is also showing unprecedented development charm. It has set up factories in more than 20 countries or regions around the world, and its products are exported to nearly 200 countries and regions. It has become a strategic new industry with international core competitiveness in China. The United Kingdom is the first country to start research and application of photovoltaic power generation technology. The British photovoltaic industry has maintained a rapid development trend under the two-way stimulation of technological innovation and the current policy of encouraging compensation from government departments. The installed capacity of solar power generation occupies a dominant position in the foreign photovoltaic industry, and its development speed and trend determine the development trend of the entire photovoltaic industry. Japan is the first country to formulate current policies for the development of the photovoltaic industry. The average annual compound growth rate from 2011 to 2017 reached 54%. In 2017, it ranked second in the world with a total installed capacity of 42.75GW. The current development is dominated by residential power stations. . As one of the hottest photovoltaic markets in Southeast Asia, Vietnam has reached an annual energy supply growth rate of 10%, coupled with its own development trend and the advantages of photovoltaic power energy, attracting photovoltaic companies from all over the world to invest. At present, photovoltaic power generation has entered the stage of industrialization development in an all-round way. Traditional photovoltaic power generation sales markets such as China, Europe, the United Kingdom, and Japan have maintained continuous growth, and photovoltaic power generation in emerging economies such as Southeast Asia, South America, the Middle East, and Africa has also Start developing quickly. [6]
Benefiting from technological progress, economies of scale, open market competition and continuous accumulation of industry experience, the cost of photovoltaic power generation has dropped sharply in the last decade. Photovoltaics has seen the fastest cost decline of any renewable energy type. Since 2010, the cost of solar photovoltaic (PV) and concentrated solar thermal (CSP) power has fallen by 82% and 47%, respectively. The latest figures from auctions and power purchase agreements (PPAs) show that solar PV could reach an average price of $0.039/kWh for projects commissioned in 2021, a 42% drop compared to 2019 and a higher price than coal-fired power. The price cost is 1/5 lower. In 2020, the price of photovoltaic systems in China has dropped to US$0.5/peak watt, and the cost of newly installed photovoltaic power generation will be less than 0.3 yuan/kWh by 2025, and will drop to About 0.2 yuan/kwh and 0.13 yuan/kwh. [9] 
At present, the lowest price of photovoltaic power generation in many countries is already lower than that of coal power, and the average price is very close to the average price of coal power generation. The reduction in cost has cleared an important obstacle for the promotion of photovoltaics. The International Energy Information Agency (IEA) judges that in the next ten years, 80% of the new growth in global electric energy will come from renewable energy. By 2050, renewable energy power will account for 85% of the world's total power structure, of which solar power will account for 1/3. [9] 
For China, by 2030, the power industry can save 10% of costs by increasing the proportion of renewable energy. If all parties work hard, by 2030, the power industry is expected to complete 80% of the carbon emission reduction target. [9] 
The report "China's Photovoltaic Development Outlook in 2050" was released at the United Nations Climate Change Conference in Madrid. The report predicts that between 2025 and 2035, the total installed capacity of photovoltaic power generation in China will reach 730 GW and 3000 GW respectively, and by 2050, the data It will reach 5,000 GW, and photovoltaics will become China's largest energy source, accounting for about 40% of the country's electricity consumption that year. [7]