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China becomes the most important driving force for global solar energy

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After years of development, China's solar thermal power generation product manufacturing industry chain has basically taken shape. The equipment and materials used in solar thermal power stations have been greatly developed and have considerable production capacity.

The spokesman of United Nations Secretary-General Guterres said recently that China has become the most important driving force for a surge in global solar investment, which prompted the world’s solar energy investment to surpass fossil fuel investment for the first time last year.

The UN Environment Agency reported that the global investment in green energy since 2004 was 2.9 trillion U.S. dollars. In recent years, China has taken the lead in promoting solar power generation. Last year, China invested a total of 86.5 billion U.S. dollars in solar power, which has become a “driver” of growth in the solar industry.

According to the Prospective Industry Research Institute's "China's Photovoltaic Power Generation Market Forward-looking and Investment Strategic Planning Analysis Report", China's solar cell exports from January to December 2017 totaled 94.64 million, an increase of 22.5% year-on-year; January-December 2017 China’s solar cell exports amounted to US$11,335,128, which was a year-on-year increase of 0.1%.

Diaryk said that the world's newly added installed solar power capacity reached a record 98 gigawatts last year, far exceeding the net increase in renewable energy, fossil fuels, and nuclear power. Among them, China's newly added installed capacity of solar power last year was about 53 gigawatts, which was more than half of the global total. Solar investment reached 86.5 billion US dollars, an increase of 58% over the previous year.

In addition to accelerating solar energy investment, Dijarik said that China is still the world’s largest renewable energy investor. In addition, investment in renewable energy in Australia, Mexico, and Sweden also increased significantly.

The report found that China’s total investment in the renewable energy industry last year was US$126.6 billion, the highest in the world. This figure increased by 31% compared to 2016. The total installed capacity of renewable energy in the world last year was 157 GW.

According to incomplete statistics, in 2017, there were 25 new types of solar energy thermal power production companies (mainly joint ventures and wholly-owned domestic companies) with a total of 178 companies. The manufactured products covered solar concentrators, heat-absorbing components, and heat transfer. There are six categories of heat storage and materials, turbine generator sets, integrated control systems, and auxiliary systems, which cover the entire industrial chain of solar thermal power generation.

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