The Rising Era of Solar Energy: Growth, Innovation, and Global Leadership

As climate related policies continue to be strengthened at the international, national, regional and sub regional levels, the trend of solar energy replacing carbon intensive energy such as coal will be more obvious in the next decade, and the solar power generation industry will usher in significant growth.

It is predicted that by 2030, the share of solar energy in the global total power generation will increase from 3.3% in 2020 to 9.0%. Asia is expected to become the core force to promote the growth of solar photovoltaic power generation and become the global leader in photovoltaic power generation. North America and Western Europe will be the regional market with the lowest project risk in the field of global solar power generation.

Digitization of solar energy projects: promote data analysis and digitization of solar energy industry, which will help developers reduce development costs and operation and maintenance costs. For example, artificial intelligence and machine learning software can effectively determine the ideal layout and design of solar power generation system. Digital twin equipment, that is, the digital replica of real solar equipment, can predict equipment faults and analyze working conditions, so as to reduce operation and maintenance costs and improve the performance and output of solar power plants.

Project bidding and renewable energy auction are still the main ways of investment in the global solar energy industry. With the continuous progress of solar modules, digital technology and perovskite solar cell technology, it is expected to further significantly improve the conversion efficiency, reduce the cost in the middle and late of the next decade.