On January 2, 2024, the German Economic Weekly website reported that the BSW reported that in 2023, Germany installed over one million new photovoltaic power generation and heating systems, setting a historical record. Among them, about half of the newly installed equipment comes from private households, 31% are open space systems, and 18% are commercial rooftop photovoltaic systems. The growth of home balcony solar power generation equipment is rapid, with a total of 270000 sets installed throughout the year.
According to data, Germany has currently installed approximately 3.7 million photovoltaic power generation systems, generating 62 billion KWh electricity annually, accounting for approximately 12% of Germany’s electricity consumption. Given the continuous rise in electricity prices and the possibility of government subsidies, BSW predicts that the demand for German photovoltaic systems will continue to rise in 2024, with a new installed capacity demand of 1.5 million units. This prediction is based on a recent survey by Yougov, a polling agency, which found that 69% of eligible homeowners intend to install rooftop photovoltaic systems, 16% of homeowners plan to install them within the next year, and the commercial rooftop and open space photovoltaic markets will continue to grow.
On January 2nd, the Austrian Standard reported that the Austrian Federal Photovoltaic Association stated that Austria’s photovoltaic power generation capacity increased by about 2 gigawatts last year, which is twice the amount in 2022. In the future, it is necessary to reach this level every year in order to achieve complete coverage of renewable energy for power generation by 2030. The favorable factors facing the photovoltaic industry in 2024 include the exemption of value-added tax on new photovoltaic systems below 35 kilowatts in the future, a more stable supply chain for photovoltaic modules, and a continuous decline in module and battery storage prices.
According to local media in South Africa on March 5th, Bloomberg New Energy Finance (BNEF) released a report stating that South Africa is expected to become the world’s tenth largest photovoltaic market by 2024, and the dominant position of solar photovoltaics in the country will continue to grow. Eskom estimates that the total installed capacity of rooftop solar energy in South Africa will be 2.6 gigawatts in 2023. The installation of rooftop solar energy in South Africa will further increase in 2024, especially in May, June, and July, when power load shedding will become more frequent and severe. The South African Photovoltaic Industry Association (SAPVIA) pointed out that since the beginning of 2023, a total of 4.3 gigawatts of solar energy projects have been registered with the South African National Energy Regulatory Authority. BNEF states that it is expected that South Africa’s installed capacity will range from 4 gigawatts to 4.5 gigawatts in 2024, and the cumulative installed capacity will reach approximately 36GW by 2030.
All in all, there is still enormous growth potential in the photovoltaic industry, and people’s demand for photovoltaic products is still on the rise. Faced with a prosperous photovoltaic industry, MULTIFIT will continue to supply high-quality and competitively priced products, continuously inject research and development funds, develop new products, and update existing products, such as solar electric cleaning brushes, fully automatic solar cleaning robots, off grid inverters, hybrid inverter, solar controllers, etc., to provide more high-quality products and professional services for consumers.
Post time: Mar-25-2024