In the Next Five Years, Global Renewable Energy Will Usher in a Period of Rapid Growth, and China is a Leader in the Field of Renewable Energy

Renewable energy will become the largest source of electricity by the beginning of 2025

The International Energy Agency predicts that the global installed capacity of renewable energy will usher in a period of rapid growth in the next five years. Under existing policy and market conditions, global installed renewable energy capacity is expected to reach 7,300 GW between 2023 and 2028. By the beginning of 2025, renewable energy will become the world's most dominant source of electricity.

The report predicts that wind and solar power will account for 95% of new renewable power generation over the next five years. By 2024, wind and solar combined will generate more electricity than hydro-power. Wind and solar power will overtake nuclear power in 2025 and 2026, respectively. The share of wind and solar power generation will double by 2028, to a combined 25 percent.

China is a leader in renewable energy

China's achievements in the field of renewable energy have been highly praised by the International Energy Agency, and China is a global leader in the field of renewable energy. The newly installed solar PV capacity in China in 2023 is equivalent to the newly installed global solar PV capacity in 2022. By 2028, China is expected to account for 60% of new global renewable power generation.

In addition, China's achievements in the development of the photovoltaic industry have also been fully recognized, and nearly 90% of the global photovoltaic industry's production capacity is located in China. Among the top 10 companies in the world for photovoltaic modules, Chinese companies account for 7.

Abdulaziz Obaideli, chief operating officer of ABU Dhabi Future Energy Company, said that the company has close cooperation with a number of Chinese enterprises, and many projects are supported by Chinese technology, and China has made great contributions to the development of the global new energy industry and the fight against climate change. Ahmed Mohamed Masina, Egypt's deputy Minister of Electricity and Renewable Energy, said that China's contribution in this field is of great significance to the global energy transition and climate governance.

Wuhan CNTSUN New Energy Co., Ltd. is a national high-tech enterprise integrating scientific research and development, scientific design, intelligent manufacturing and global sales.

The company has been deeply engaged in photovoltaic mounting system solution technology for many years, and has always adhered to the research and development, incubation and application of key technologies of intelligent energy, and is committed to realizing efficient photovoltaic construction. 

In the spirit of "symbiosis with light and coexistence with dreams", CNTSUN is willing to make every effort to achieve the global carbon peak and carbon neutrality, and contribute to the vision of building a harmonious society and a green global village!