CHINA'S PHOTOVOLTAIC INDUSTRY LEADS THE WORLD, THE COST OF PHOTOVOLTAIC POWER GENERATION CONTINUES T

In the current composition of global power generation, photovoltaic power generation than as of 2018 accounted for only 2.4%, a very small proportion. This is also the case in China. 2019 solar power generation ratio is also about 2%, as the cost of photovoltaic power generation continues to decrease, in more and more countries , photovoltaic will become the lowest cost way to generate electricity.

2019-2024 China photovoltaic system EPC industry distribution market research and key enterprises deep investigation and analysis report introduced the first three quarters of this year, in the epidemic impact to the global trade plunge in the situation, China's photovoltaic industry still maintain a stable development trend. Among them, polysilicon production of about 290,000 tons, an increase of 18.9% year-on-year, module production of more than 80 GW, an increase of 6.7%. As for the application market, the national PV installed capacity was 18.7 GW, up 17% year-on-year. Photovoltaic power generation of 2005 billion kilowatt hours, an increase of 16.9% year-on-year, photovoltaic product exports, the first three quarters of PV module exports have exceeded the same period last year.

According to IRENA, from 2010-2019, the global leveled cost of electricity for photovoltaic, solar thermal, onshore wind, and offshore wind fell by 82%, 47%, 39%, and 29%, respectively. In the next 10 years, the cost of new energy generation will continue to decrease.

The cost of photovoltaic power generation continues to fall

The biggest problem limiting the development of the photovoltaic industry is the high cost of development, photovoltaic power generation in various countries are dependent on subsidies to live, no high subsidies to the cost of power generation directly lead to problems in the sale of electricity. What is exciting is that the photovoltaic industry in the past to reduce more than 90%, but the potential to reduce costs has not come to an end, the cost of photovoltaic power generation will continue to fall, now, the cost of photovoltaic power generation down to 30 cents - 60 cents range (due to differences in lighting conditions, land prices, financing costs) this cost of power generation can compete with thermal power generation.

According to professionals, within 10 years, the cost of photovoltaic power generation will drop to less than 1 cent. This cost of electricity generation can almost beat all kinds of other power generation methods, the key is so low cost with clean energy, green energy, from this point of view, the coal, oil industry is a very bleak future.