Bloomberg New Energy Global Photovoltaic Power Station Development Costs Will Enter a Decline Again

On November 2nd, Kou Nannan, the head of China research at Bloomberg New Energy Finance, shared a report on "Global Development Trends and Key Market Prospects for New Energy" at the 2023 New Energy International Cooperation Forum.

For the prediction of future global photovoltaic installation, we believe that the growth in 2023 is very significant compared to 2022, and the Chinese market is the largest. By the first three quarters of this year, China's photovoltaic installation has reached 130 million kilowatts, with a conservative estimate of 170 GW throughout the year, even reaching over 190GW. China's photovoltaic growth is very good.

Whether it is distributed photovoltaic or centralized photovoltaic in Europe, the growth of the European photovoltaic market is relatively good, with a clear growth range in several key countries.

 The growth of the photovoltaic market in the United States has been slightly slower this year. With the implementation of some detailed regulations after the Anti Inflation Act, the photovoltaic market in the United States will have a good development in the coming years.

The cost of developing photovoltaic power stations will enter a downward trend again this year.

The focus is more on component prices, which have been reduced to a very low component in the overall development cost. Especially in the European and American markets, the cost of grid connection is higher. From the perspective of photovoltaic grid connection in the United States, data from 2021 to 2022 can be seen that the cost of grid connection is increasing for both photovoltaic and wind power. Analyzing the reasons, it can be seen that there is insufficient investment in the US power grid, and there is also a problem of insufficient investment in the European power grid, posing huge challenges to the development of new energy.

The cost of household photovoltaic market has also shown a significant decrease, while according to data released by Germany and the United States, the overall household cost is showing an upward trend. It is unclear whether energy storage is included behind this trend. But from the changes in numbers, it is found that energy storage will become a new growth point for market demand in the future on the household side.

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