The Market Trend of New Energy Industry

According to the data from Straits Research and Statista, the global market value of renewable energy industry is anticipated to have a continuous growth with up to 10% in the next 8 to 10 years. As a market player, we are delighted to witness the following development of this industry.   

Technological innovation and industrial upgrading:

Improvement of energy conversion efficiency: In the field of solar energy, the conversion efficiency of photovoltaic modules has been continuously improved, which has reduced the cost of photovoltaic power generation and gradually increased the proportion of solar energy in energy supply. For example, the research and development and application of new photovoltaic materials, as well as more advanced battery structure design, can help improve efficiency. At the same time, the capacity of wind turbines for wind power generation has been increasing, and the power generation efficiency has been gradually improved. Offshore wind power has developed rapidly, making use of more abundant wind energy resources.

Breakthrough in energy storage technology: Energy storage technology is a key support for the development of new energy, and breakthroughs will continue to be made in the future. New battery technologies such as sodium ion batteries and solid-state batteries are expected to be gradually commercialized, improve the energy density, cycle life and safety of energy storage systems, solve the intermittent and instability problems of new energy power generation, and better realize energy storage and deployment.

Development of smart grid technology: Smart grids can realize real-time monitoring, analysis and control of power systems, improve the stability and reliability of power grids, and promote the consumption of new energy. With the deep integration of technologies such as the Internet of Things, big data, and artificial intelligence with power grids, smart grids will continue to upgrade to achieve efficient transmission and distribution of electricity, and provide better infrastructure for the widespread application of new energy.

Market integration and cross-border cooperation:

Cross-industry integration is accelerating: New energy companies will conduct in-depth cooperation with companies in the fields of electric vehicles, smart homes, smart cities, etc. For example, the interaction between new energy vehicles and smart grids will be closer. Through vehicle-to-grid (V2G) technology, electric vehicles can charge during low electricity consumption and discharge to the grid during peak electricity consumption, realizing two-way flow of energy and improving energy utilization efficiency. Smart home systems will also be combined with new energy to achieve intelligent management and optimization of household energy.

Strengthening cooperation among enterprises: New energy companies will strengthen cooperation, form industrial alliances, and jointly respond to market challenges. For example, in the development, construction and operation of new energy projects, companies can share resources, reduce costs and improve efficiency through cooperation. At the same time, technical cooperation and exchanges between companies will also promote the innovation and promotion of new energy technologies.

Green, low-carbon and sustainable development:

Increase in the proportion of clean energy: With the increasing global attention to climate change, governments will increase their support for clean energy and promote the development of new energy. The installed capacity of clean energy such as solar energy, wind energy, hydropower, and biomass energy will continue to grow, and their share in energy consumption will continue to increase, reducing dependence on traditional fossil energy, reducing carbon emissions, and helping to achieve the goals of carbon peak and carbon neutrality.

Full life cycle green management: The new energy industry will pay more attention to the green management of the entire life cycle of products, and will follow the principles of green environmental protection from raw material procurement, production and manufacturing, transportation and installation to recycling and utilization. For example, the recycling and reuse technology of photovoltaic components will continue to improve to reduce the impact on the environment; the decommissioning and dismantling of wind turbines will also be more standardized to achieve effective recycling of resources.

International and global development:

Intensified international market competition: With the increasing openness and interconnection of the global energy market, new energy companies will face more intense international market competition. Companies from various countries will compete in technology, products, services, etc. to compete for a share of the global new energy market. Companies with technological advantages, cost advantages and brand advantages will stand out in the international market.

Collaborative development of the global industrial chain: The global development of the new energy industry will promote the collaborative development of the global industrial chain. Countries will play a role in different links of the new energy industry chain based on their own resource advantages and industrial foundations. For example, some countries may focus on the manufacturing of new energy equipment, while some countries may focus on the development and operation of new energy projects, so as to achieve the optimization and coordinated development of the industrial chain through international cooperation.