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Solar Industry Outlook 2021

Release date:2021-01-07 Source:Raytech Pageviews:-

It is estimated that solar industry will maintain a high prosperity in 2021, and the global installed capacity is expected to be 160GW, with a year-on-year growth of more than 30%.

On the one hand, with the cost of solar power generation decreasing year by year, it has been able to achieve affordable access to the power grid, so the solar market demand is expected to usher in a greater outbreak.

The global solar power cost in 2021 is expected to reduce by 43% compared with that in 2019, reaching US $0.04/kWh, which will usher in the era of parity in all regions of the world.

On the other hand, the popularity of solar power generation systems among the public is low, and it will become one of the global mainstream power generation sources in the future, with huge market space. The green and clean nature of photovoltaic power generation is also in line with the sustainable development goals of all countries in the world, and all countries have corresponding green development plans.

China proposes to achieve carbon peak by 2030 and carbon neutralization by 2060. During the 14th 5-Year Plan period, China will strive to achieve peak or even negative growth in coal consumption; the proportion of non-fossil energy will reach about 20%, and the total energy consumption will be controlled within 5.5 billion TCE. According to the calculation, the average annual installed capacity of solar power during the "14th 5-Year Plan" period can reach 70GW.

In Europe, emission reduction targets are constantly improving. In September 2020, the 2030 Climate Target Plan pointed out that the proportion of renewable energy in the end energy consumption will reach 38% ~ 40% by 2030.

In the United States, Biden will announce that he will rejoin the Paris agreement after he is elected. On November 18, 2020, the American Solar Industry Association proposed to Biden to cancel Trump's tariff on imported equipment, and proposed to extend a key federal tax credit policy for the solar industry through legislation.

In general, it is estimated that the year-on-year growth rate of global installed solar capacity will reach 34% in 2021, achieving the highest growth in the past decade. During the same period, the growth rate of installed solar capacity in China, the United States and Europe is expected to reach 67%.

Ningbo Raytech New Energy Materials Co., Ltd. is specialized in “PV Modules Manufacturing and System Integration” and “Smart Panel Materials Manufacturing”. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product/performance warranty respectively).

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