LONGi release the new outlook of China's photovoltaic industry at the United Nations Climate Change Conference

MADRID, Spain, Dec. 13, 2019 /PRNewswire/ -- On December 12, Mr. Li Zhenguo, founder and President of LONGi Green Energy Technology Co., Ltd. (hereinafter referred to as "LONGi Group"), a leading global solar energy technology enterprise, attended the 25th UN Climate Change Conference and released "China's Photovoltaic Development Outlook in 2050" (hereinafter referred to as "the Outlook"), during the exchange meeting of "Promoting Energy Revolution Through Renewable Energy" held at China Pavilion.

This is the first national clean energy technology outlook report issued worldwide by private renewable energy enterprise as important contributor. The Outlook points out, driven by factors such as system efficiency improvement through technological progress, the cost of photovoltaic power generation decrease rapidly, and the cost advantage of photovoltaic power generation will become more significant in the future.  Before 2025, photovoltaic power generation will become one of the most economical new power generation technologies. By 2050, photovoltaic, as the NO.1 power supply source in China, will account for nearly 40% of the total electricity consumption of the whole society.

A number of guests, including Mr. Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment of China; Mr. Dan Jorgensen, Minister of Climate, Energy and Public utilities of Denmark; Mr. Wang Zhongying, deputy director of the Energy Research Institute of the National Development and Reform Commission; and Mr. He Jiankun, deputy director of the National Climate Change Expert Committee of China, attended the exchange meeting.

The Outlook report points out that photovoltaic will become the most important power source in China in the future, and will bring great benefits to China and the world to curb climate change and achieve sustainable development. Continuous technological progress is the biggest force driving the cost reduction of photovoltaic power generation, and the rapidly decreasing cost of photovoltaic power generation is the cornerstone for realizing high proportion of photovoltaic installation in the energy structure. By 2025, the cost of newly installed photovoltaic power generation is expected to be less than 0.3 yuan / kWh. The cost advantage of photovoltaic power generation will become more significant in the future. By 2035 and 2050, the cost of new photovoltaic power generation will be reduced to about 0.2 yuan / kWh and 0.13 yuan / kWh respectively.

The report predicts that China's photovoltaic installation will be accelerated starting from the 14th Five Year Plan period (2020-2025); from 2025 to 2035, China's photovoltaic installation will be accelerated on an even larger scale. In 2025 and 2035, the total installed capacity of photovoltaic power generation in China will reach 730GW and 3000GW respectively; by 2050, the data will reach 5000GW and photovoltaic power will become the largest power source in China, accounting for about 40% of the national electricity consumption.

At the same time, with the development of distributed photovoltaic and the innovative application of energy storage technology, energy consumption will also change dramatically in the future. BIPV (building integrated PV) will bring at least 3 billion kilowatts of photovoltaic installation. Light storage polymerization、light storage sharing and "virtual power plant" etc will fully reshape the energy consumption pattern of household and commercial institutions.

Finally, the Outlook points out that a high proportion of photovoltaic power generation will bring huge ecological and environmental benefits, and significantly reduce environmental pollution and greenhouse gas emissions from the source of energy supply, reflecting the important role LONGi is playing in the global sustainable development and transformation process.

LONGi redefine the role and significance of photovoltaic in climate change action

At the 24th Climate Change Conference in 2018, Mr. Li Zhenguo released the concept of "solar for solar" and demonstrated the future photovoltaic development method of "manufacturing of clean energy with clean energy".  The Outlook release is the second time LONGi voiced its opinion at the United Nations Climate Change Conference, demonstrating its deep insight in photovoltaic technology, manufacturing and the whole industry chain.

During the conference, LONGi also deeply participated in a series of important meetings related to sustainable development transformation and new energy development, including the side meeting of documentary release of  "The Journey to the Climate Conference", side meeting of Chinese enterprises' climate action: Empowerment and Innovation, side meeting of "Energy Mix with Solar Energy Focus to Fight Against Climate Change", etc., showing the insight and responsibility of Chinese new energy enterprises in the global action against climate change.

Source: LONGi Green Energy Technology Co., Ltd