Global Investment in Photovoltaics Will Surpass Oil for the First Time, Reaching $382 Billion

It is reported that from January to October, China's newly installed photovoltaic capacity was 142.56 GW, a year-on-year increase of 145%, a record high. Until now, more than half of the country's newly installed power generation capacity comes from photovoltaic power generation. Global investment in clean energy has exceeded fossil energy for eight consecutive years. It is expected that solar energy investment will reach 382 billion US dollars and oil investment will reach 371 billion US dollars in 2023, which means that solar energy investment will exceed oil investment for the first time in history.

Under this circumstance, the Photovoltaic Association has raised its 2023 installation forecast for the second time. It is expected that the global new photovoltaic installed capacity will be raised from 305-350 GW to 345-390 GW, China's new photovoltaic installed capacity will be raised from 120-140 GW to 160-180 GW. 

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