China’s Photovoltaic Industry Helps Europe’s Green Transformation Enter the “Fast Lane”

Post time: Jun-28-2024   View: 13

The 2024 European International Solar Energy Exhibition was held in Munich, Germany from June 19 to 21. As an important exhibition in the world's solar energy industry, this year's exhibition attracted nearly 1,000 Chinese companies to participate, exceeding the number of host Germany. Since the establishment of the exhibition, China has become the country with the largest scale of exhibitions for the first time.

Chinese and foreign business representatives and industry experts believe that China's photovoltaic industry has significant advantages in technological innovation, cost control and value chain integration. In recent years, China has provided competitive and high-quality photovoltaic products to European countries including Germany, which has effectively promoted the process of energy transformation in Europe and achieved a true "win-win" situation.

The "Global Solar Market Outlook 2024-2028" report released by the European Solar Industry Association during the exhibition shows that Germany's newly installed photovoltaic capacity in 2023 will increase by more than 100% year-on-year, ranking fourth in the world. In addition, other European countries that will enter the top ten photovoltaic markets in the world in 2023 include Spain, Italy and the Netherlands, and the newly installed photovoltaic capacity in these countries will also achieve year-on-year growth. As of 2023, 14 of the 31 countries with a total installed PV capacity of 1 GW are located in the EU.

The report points out that the unprecedented growth of the global PV market in 2023 is largely due to the development of China's PV industry. If China had not invested heavily in PV deployment, the growth rate of the industry would have slowed significantly.

Markus Elsässer, founder and CEO of the German Solar Promotion Company, the organizer of the exhibition, believes that China has established a complete value chain from raw materials to end products in the photovoltaic industry, and China's advanced manufacturers have provided innovative impetus for the European photovoltaic industry.

Elsässer stressed that renewable energy, including photovoltaics, is crucial to the decarbonization of European industries. "The Chinese photovoltaic industry has helped us obtain competitive products needed for the transition to a decarbonized society in the past few years. I think cooperation is a win-win situation," he said.

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