The photovoltaic new energy sector is anticipated to exhibit the subsequent trends by 2024:
1. Further advancement of technology: PV cell efficiency will increase as a result of ongoing technological advancements. High-efficiency technologies, such TOPCon and HJT, are now being applied and studied extensively, and their use is expected to increase in the future. In the meantime, novel PV technologies—like chalcogenide technology—may also lead to innovations and open up new avenues for the PV sector's expansion.
2. Falling cost: The price of PV modules will keep going down as a result of technological advancements and the scale effect. This might cause the cost of solar energy to continue to drop, giving photovoltaic energy an advantage over conventional energy in the competition.
3. Growth in Market Demand: Governments will probably pay greater attention to the development of renewable energy and boost their support for the photovoltaic industry as a result of the growing severity of environmental challenges and global climate change. Simultaneously, as PV technology advances and costs come down, an increasing number of businesses and households may begin to adopt PV power, driving up market demand.
4. Industry consolidation: As the photovoltaic (PV) sector grows, market rivalry will intensify. While some large businesses may use mergers and acquisitions to further increase their market share and create a more concentrated market pattern, some weaker and smaller businesses may run the risk of being eliminated.
5. Intelligence and digitalization: As big data, IoT, and other technologies continue to advance, it will become increasingly clear that the PV industry is following this trend. Businesses may increase production efficiency and product quality by using digital technology to intelligently control the production process. Digital technology may also assist businesses in anticipating consumer demand and adapting to shifting market conditions.
6. Sustainability and environmental friendliness: The PV new energy industry will place a greater emphasis on the sustainability and environmental friendliness of its products in light of the growing emphasis on sustainable development worldwide. This covers the use of renewable resources, lowering production-related environmental pollution, increasing the energy efficiency of products, and prolonging their lifespan. In order to satisfy consumer demand, businesses will concentrate more on creating and manufacturing new items with these features.
7. Regionalized development: Around the world, PV markets could differ in terms of traits and priorities for development. For instance, PV electricity may take over as the primary energy source in places with an abundance of light resources, whereas in urban areas, PV power may be primarily used for transportation and structures. As a result, businesses must develop appropriate market and product strategies based on regional differences in market demand.
8. Combination of energy storage technology: As energy storage technology advances, the PV new energy sector will focus more on combining it with energy storage technology. The issue of unstable photovoltaic electricity can be resolved, and the power grid's dependability and stability can be increased, by integrating photovoltaic power with energy storage technologies. In addition, this opens up new avenues for growth for the PV sector, including battery energy storage system R&D and manufacturing.
9. Cross-border innovation and cooperation: The PV new energy sector will give cross-border innovation and cooperation with other sectors more consideration. To address the wide range of market demands, the PV industry, for instance, can collaborate with sectors like electric vehicles and smart homes to collaboratively develop new goods and services. In order to accomplish sustainable development, PV firms can also broaden their own business domains and market reach by collaborating with other industries.
To summarize, the PV new energy industry is expected to experience a variety of development trends by 2024, including advancements in technology, decreased costs, increased market demand, industrial integration, intelligence and digitalization, environmental friendliness and sustainability, regionalized development, the combination of energy storage technologies, and cross-border cooperation and innovation. To react to changes in the market and take advantage of new development opportunities, we must closely monitor these trends and create development strategies and business plans that are appropriate. Governments and all facets of society must simultaneously step up their support for the new PV energy industry's sustainable growth and work toward implementing a workable solution to the world's environmental problems and climate change.
