In the first half of 2023, global solar energy investment increased by 43% year-on-year to reach $239 billion, but renewable energy investment is still far below the investment amount required to achieve the net zero target by 2050.According to the “Renewable Energy Investment Tracking Report for the Second Half of 2023,the total investment in large and small solar systems is 239 billion US dollars, accounting for two-thirds of the global renewable energy investment in the first half of the year.
China remains the largest solar energy investor, accounting for approximately half of all large and small solar energy investments in the first half of 2023. The dominant reasons include the decline in component prices, the strong development of the rooftop photovoltaic market, and the investment of China’s major energy bases, mainly large-scale wind and solar power stations developed in desert areas.
Subsequently, the United States was the second largest investor in solar energy, with an investment of $25.5 billion in the large and small solar energy sectors in the first half of 2023. Although the investment amount in the United States is much lower than that in China, with the easing of supply chain restrictions and the increasing clarity of the Inflation Reduction Act (IRA), the investment amount in the United States has increased by 75% compared to the first half of 2022.In addition, the investment of Germany, Poland and the Netherlands also reached a record high. The Russia-Ukraine conflict and the subsequent European energy crisis boosted the demand of these countries. Saudi Arabia has also achieved remarkable growth due to the NEOM photovoltaic power plant dedicated to hydrogen production.
In the first half of 2023, the global investment in renewable energy, excluding solar energy, surged to $358 billion, a year-on-year increase of 22%, reaching a historic high in all six months. Among them, $335 billion was used for project development through asset financing and small-scale solar energy construction, a year-on-year increase of 14%.In addition, in the first half of 2023, venture capital and private equity investments made expansion commitments to renewable energy companies to $10.4 billion, a year-on-year increase of 25%. In the first half of the year, the total amount of new funds raised in the open market reached 12.7 billion US dollars, a year-on-year increase of 25%.
Against the backdrop of global energy transformation and China’s “dual carbon” goals, new energy sources such as photovoltaics continue to maintain a rapid development momentum, standing at the “C position of the era”. The new energy and photovoltaic industry has received widespread attention and support, and has huge growth potential. In the future, MULTIFIT Company will actively practice the concept of green and low-carbon development, vigorously promote collaborative innovation, joint research and development, benefit sharing, and mutual achievement with partners, and promote the effective operation of innovation collaboration platforms. MULTIFIT Company and ecological partners will work together to fully leverage their respective advantages, achieve resource complementarity, jointly promote product research and development, market development, and deep level cooperation in related fields, and assist in the process of carbon neutrality.The core advantages of high efficiency, high power, high power generation, high reliability, and low electricity cost provide more outstanding value for end customers, and will continue to lead the industrialization process of advanced technology. In the future, MULTIFIT Company will continue to maintain its leading product performance through continuous technological innovation, collaborate with the industry, and strive to launch more efficient and high-quality products to benefit global customers, contributing more efforts to building a zero carbon new energy world.
In the process of photovoltaic development, MULTIFIT dares to strive to be the first, and is ready to take the opportunity of vigorously developing photovoltaic power generation globally, MULTIFIT Company has taken the lead in equipment research and development in the photovoltaic industry.
Post time: Sep-12-2023