According to the annual report recently released by the International Energy Agency, the global solar photovoltaic capacity is expected to reach 375 gigawatts in 2023, with a year-on-year growth rate of 31.8% in total installed capacity. Looking at various countries and regions, China's new solar photovoltaic installed capacity in 2023 was equivalent to the global new solar photovoltaic installed capacity in the previous year. Demetrios, Head of the Energy Department at the World Bank, believes that developing the solar photovoltaic industry is crucial for addressing climate change and promoting energy transition. 
The advantages of the photovoltaic industry are becoming more prominent 
At the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change held last year, the development of solar energy was one of the focal points of discussion. The agreement reached at COP28 mentioned for the first time the cost reduction and technological innovation of solar, wind, and energy storage technologies, affirming their development is conducive to achieving climate change goals and calling on countries to transition away from fossil fuels in energy systems in a fair, orderly, and equitable manner. 
In recent years, the global photovoltaic industry has accelerated its development. Relevant statistics show that from 2019 to 2023, the average annual growth rate of global photovoltaic installed capacity reached 28%. Consulting firm Wood Mackenzie stated that in most countries, solar energy has become the most cost-competitive energy source. In 2023, global photovoltaic installed capacity surpassed hydropower. Over the next 10 years, the photovoltaic industry will continue to maintain a high growth rate. 
Global Solar Council CEO Sonia Dunlop stated that solar energy is currently the fastest-growing and most efficient renewable energy source. By 2030, the global installed capacity of renewable energy will double, and solar photovoltaic technology is the most important energy transformation technology. A report recently released by the University of Exeter in the UK suggests that solar energy will become the most competitive energy source in the coming years. According to predictions, by 2044, photovoltaic electricity will account for more than half of global electricity generation. 
Reports from organizations such as the International Energy Agency show that there are still 675 million people worldwide without access to electricity, with about 80% concentrated in sub-Saharan Africa. Former Vice Chairman of the Intergovernmental Panel on Climate Change, Munasinghe, stated that sustainable development is a significant challenge facing human society. Solar photovoltaic technology continues to innovate, highlighting its advantages and providing options for developing countries to seek economic sustainable development, energy transformation, and environmental protection. 
Countries actively promote technological applications
In recent years, many countries worldwide have introduced various policy measures to accelerate energy transition and actively develop the solar photovoltaic industry. 
Middle Eastern countries have abundant solar energy resources. The United Arab Emirates has proposed achieving carbon neutrality by 2050. In November 2023, the Al Dhafra PV2 solar power plant project in the UAE was connected to the grid, capable of meeting the electricity needs of 200,000 households and reducing carbon emissions by 2.4 million tons annually, increasing the proportion of clean energy in the UAE's energy structure to over 13%. Saudi Arabia has set a target of reaching 40 gigawatts of photovoltaic installed capacity by 2030 and will invest 380 billion riyals (1 rial = approximately 1.91 yuan) in renewable energy projects. Qatar aims to have solar power account for 20% of its electricity generation by 2030. In November 2022, Qatar's first solar power station, the Al-Kharsaah power station, was officially put into operation, meeting 10% of Qatar's peak power demand. David Ramos, head of Sustainable Development at HSBC Bank in the Middle East, believes that Middle Eastern countries have vast prospects for renewable energy development, represented by solar energy. 
The African Solar Industry Association's "2023 Outlook Report" shows that the solar industry in Africa is accelerating its development. Countries such as South Africa, Morocco, and Egypt are leading in photovoltaic construction projects. For example, Egypt's "Comprehensive Sustainable Energy Strategy for 2035" proposes that by 2035, renewable energy generation capacity will reach 61 gigawatts, with photovoltaic generation capacity reaching 43 gigawatts. Meanwhile, more countries in regions such as Cape Verde, Botswana, and Eritrea are increasing their investment in the photovoltaic industry, beginning to construct and operate large-scale photovoltaic projects. 
In recent years, the European Union's photovoltaic industry has also experienced rapid growth. According to a report released by the European Photovoltaic Industry Association, the EU's new photovoltaic installed capacity is expected to reach 56 gigawatts in 2023, maintaining an annual growth rate of over 40% for the third consecutive year. It is expected that the total photovoltaic installed capacity will double by 2026, reaching the expected 484 gigawatts. 
The report from the University of Exeter believes that the rapid development of the global photovoltaic industry is mainly due to two factors. On the one hand, countries have successively introduced policy measures to support the photovoltaic industry, and on the other hand, the prices of photovoltaic components have dropped significantly. From 2010 to 2022, the average weighted cost of solar energy generation worldwide decreased by 89% to $0.049 per kilowatt-hour, almost one-third lower than the cheapest fossil fuels.