Sun shines on solar photovoltaic as source of energy

Ti Gong

Solar photovoltaic is expected to soon surpass thermal power and become the world's largest source of energy amid the unwavering focus on green transition, according to insider sources.

The world's installed solar PV energy capacity is set to reach 490 – 550 gigawatts in 2024, which will soon be equal to thermal power, said Zhu Gongshan, president of the Global Green Energy Industry Council, at the 17th (2024) International Photovoltaic Power Generation and Smart Energy Conference & Exhibition.

According to the Renewables 2023 report by the International Energy Agency, 2023 saw a steep change in renewable capacity additions, driven by China's solar PV market.

"China's acceleration was extraordinary," the report stated. In 2023, China commissioned as much solar PV as the entire world did in 2022.

According to the report, the global power mix will be transformed by 2028, when solar PV and wind will account for 95 per cent of global renewable expansion. Additionally, solar PV is estimated to surpass nuclear electricity generation in 2026.

Ti Gong

Of solar cells, TOPCon, or tunnel oxide passivated contact, is widely believed as the mainstream as it represents a more efficient technology.

A series of new products were debuted at the expo, including advanced n-type TOPCon solar cells developed by domestic industrial tycoon SANY Silicon Energy Co.

It has been recognized by testing service provider TÜV Rheinland to be able to reduce balance of system (BOS) costs by 2 percent, and lower levelized costs of electricity (LCOE) by 2.3 percent.

In addition, Sany has singed on for a total of 2.3 gigawatts of contracts at the scene.

The three-day expo, which concluded in Shanghai on Saturday, has been the largest in scale as it has attracted more than 3,500 exhibitors from 95 countries and regions. Nearly 30 percent of exhibitors were from overseas.