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In 2017, China's PV installed capacity increased by 53.06 GW, setting a record high. At present, the PV grid parity has accelerated and the installed capacity of the global PV market is expected to continue to maintain steady growth. According to estimates, the global installed capacity of photovoltaics will reach 163 GW in 2025, and the industry will have a bright future in terms of installed capacity. In addition, various countries have formulated favorable and sustainable industrial support policies for the development of photovoltaics, with huge potential for new installed capacity and significant long-tail effect, which will become a strong support for the new global PV demand.

The development of photovoltaics is very good, mainly due to the following conditions!

Technology-driven industrial chain prices continue to decline

The technology-driven cost has dropped, and the price of the industrial chain has continued to decline. This has led to a reduction in the cost of the system and the cost of electricity. Before 2012, PV mainly relied on economies of scale to drive down costs, and after 2012, the driving forces shifted and turned into a technology-driven cost reduction. During the five years from 2012 to 2017, the price of photovoltaic modules fell by more than 53%, and the inverter price dropped by 67%. In 2017 alone, module prices fell by 10%. At the end of 2017, module prices dropped below RMB 3/W. It is expected that after the PV module price reaches 2 yuan/W by 2020, the photovoltaic industry will enter the era of parity.