For the first time, global PV investment will surpass oil to US 382 billion

Mondo Finance Updated on 2024-01-29

IT Home reported on December 15 that, according to the Financial Associated Press, Wang Bohua, honorary chairman of the China Photovoltaic Industry Association, said at the 2023 annual meeting of the photovoltaic industry that the photovoltaic industry has a strong growth momentum this year.

It is reported that from January to October, China's new photovoltaic installed capacity was 14256 GW, up 145% year-on-year and a record high. Up to now, more than half of the country's new installed power generation capacity comes from photovoltaic power generation. Wang Bohua said that global clean energy-related investment has surpassed fossil energy for eight consecutive years. Solar investment is expected to reach $382 billion in 2023 (note from IT House: about 272 trillion yuan), oil investment will amount to 371 billion US dollars (currently about 2.65 trillion RMB). This means that for the first time in history, solar investment will surpass oil.

In this context, the PV Association has raised its 2023 installed capacity for the second time**, and it is expected that the global new PV installed capacity will be raised from 305-350 GW to 345-390 GWChina's new PV capacity was raised from 120-140 GW to 160-180 GW.

IT Home learned from the official website of the Ministry of Industry and Information Technology that the Electronic Information Department of the Ministry of Industry and Information Technology held a symposium on photovoltaic intellectual property rights in Beijing last month to carry out the construction of the intellectual property system of the photovoltaic industry, strengthen the protection of intellectual property rights and the transformation of achievements, promote the sustainable innovation and development of the photovoltaic industry, organize relevant units to carry out work exchanges, and deploy the next step.

The meeting emphasized that at present, China's photovoltaic industry has entered a new stage of high-quality development, and strengthening the construction of the intellectual property system and intellectual property protection of the modern photovoltaic industry is of great significance to encourage technological innovation of advanced enterprises and enhance the core competitiveness of the industry. The whole industry should build consensus and work together to continuously improve the awareness and work level of photovoltaic intellectual property protection, and promote China's photovoltaic industry to accelerate its progress towards a global innovation center.

Under the guidance of the Department of Electronic Information of the Ministry of Industry and Information Technology, the China Photovoltaic Industry Association has launched the preparation for the establishment of a photovoltaic intellectual property committee since the end of 2022.

According to the statistics of the National Energy Administration, as of the end of September this year, the cumulative installed capacity of household distributed photovoltaic in the country exceeded 100 million kilowatts, reaching 10.5 billion kilowatts, boosting the scale of China's photovoltaic power generation machine to exceed 500 million kilowatts, reaching 5200 million kilowatts. According to statistics, the cumulative number of households in rural areas of China has exceeded 5 million, driving effective investment of more than 500 billion yuan.

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