Global Renewable Energy Will Usher in a Period of Rapid Growth in the Next Five Years

Recently, the "Renewable Energy 2023" annual market report released by the International Energy Agency shows that the global new installed capacity of renewable energy in 2023 will increase by 50% compared with 2022, and the installed capacity will grow faster than at any time in the past 30 years. . The report predicts that global renewable energy installed capacity will usher in a period of rapid growth in the next five years.

The report predicts that wind and solar power will account for 95% of new renewable energy power generation in the next five years. By 2024, total wind and solar energy generation will surpass hydropower; wind and solar power will surpass nuclear power in 2025 and 2026 respectively. The share of wind and solar power generation will double by 2028, reaching a combined 25%.

In recent years, China's photovoltaic industry has developed rapidly and remains an international leader. At present, nearly 90% of the global photovoltaic industry's production capacity is in China; among the top ten photovoltaic module companies in the world, seven are Chinese companies. 

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