More than a decade ago in October 2011, Solar World, the largest solar energy company in Germany, submitted an anti-dumping and anti-subsidy investigation application specifically targeting 75 Chinese photovoltaic companies to the US Department of Commerce. At that time, Chinese photovoltaic companies were unable to withstand the "dual anti" sanctions, with overcapacity, and domestic enterprises were filled with a sense of sorrow.
After more than a decade of climbing and overcoming obstacles, photovoltaics have become the "new three types" leading China's foreign trade exports. Nearly 90% of the global photovoltaic industry's production capacity is located in China, and among the top ten global photovoltaic module companies, Chinese companies account for seven. The achievements of Chinese photovoltaic companies are remarkable.
The market demand in 2024 will continue to increase by 20% compared to 2023, mainly due to the decrease in prices, which has increased the investment income of photovoltaic power stations. The possible trend for the second and third quarters of 2024 is that the price of photovoltaic modules will be adjusted to a reasonable profit price, but there is no possibility of 1.2-1.3 yuan/watt. The global demand for photovoltaics will continue to grow in 2024, but the growth rate will slow down and is expected to increase by 20% on the basis of the market in 2023. There are still many accumulated projects in the implementation process in China, so the demand in the domestic market will continue to grow. The overseas market has maintained a growth rate of around 20% to 30% for many years, and there is a certain degree of uncertainty in the US market due to anti circumvention and other control measures.
The photovoltaic industry still has a high level of momentum. According to the "Analysis and Prediction Report on the National Electricity Supply and Demand Situation from 2023 to 2024" released by the China Electric Power Enterprise Federation on January 30, 2024, China's non fossil energy power generation installed capacity exceeded the scale of thermal power installed capacity for the first time in 2023, accounting for more than 50% of the total installed capacity for the first time in 2023, and the proportion of coal-fired power installed capacity decreased to below 40% for the first time.
The report also predicts that by the end of 2024, the cumulative installed capacity of new energy generation in China will reach about 1.3 billion kilowatts, accounting for about 40% of the total installed capacity, surpassing the installed capacity of coal-fired power for the first time. "It is expected that global photovoltaic installed capacity will return to rational growth." Jibang Consulting believes that the neutral expectation for global photovoltaic installed capacity in 2024 is 474GW, a year-on-year increase of 16%, and a significant slowdown in growth compared to the 59% growth rate in 2023.
For us, Multifit, we need to seize this once-in-a-lifetime opportunity and take advantage of the continuous expansion of the photovoltaic market to introduce our photovoltaic equipment and photovoltaic cleaning equipment to our potential customers, so that they can understand the performance and quality of our products and ultimately place a successful order. And actively participate in domestic and international exhibitions, such as the Canton Fair held on April 16th this year, and the new energy exhibition in the photovoltaic industry held around the world, seizing these opportunities to allow our end customers to experience our products at the first time.
Post time: Mar-28-2024