European Policy And Photovoltaic Market Outlook

In order to accelerate the establishment of RepowerEu: Before 2030, renewable energy accounted for 45%(about 1236 GW) in Europe's total installed capacity and a total of 600 GW of new light installation machines. The Zero Industry Act "Net Zero Inndustry Act and the Critical Raw Materials Act, the above bill, will be carried out under the architecture of the Green Deal InDustrary Plan, a Green Deal InDustrary Plan, which the above bill earlier.

According to the content of the "Zero Industry Act": Prior to 2030, the European Union will simplify administrative procedures and cultivate technical talents to make a number of "Strategic NET-Zero TechNology ), More than 40%of its annual installation demand must be made from local manufacturing. The "Key Materials Act" stipulates that it is indispensable during the processing process, especially key raw materials related to renewable energy, such as lithium and rare earth metals, and the supply ratio of a single third country must not exceed 65%.

Relying on the support of many bills, the "Green New Deal Industry Plan" is considered a strong response to the "Reduction Act" adopted by the United States last year. The "Reduction Act" is expected to invest in the renewable energy industry within ten years, which is $ 369 billion, including additional subsidies and tax reduction in the fields of photovoltaic, wind, energy storage. The direction of expanding investment and subsidies.

In addition to the European Union -led policy, many European countries have recently updated the renewable energy target of 2030 in the near future. For example, Italy announced that it has raised the photovoltaic installation target from the past 52 GW to 79.9 GW, an increase of about 53%, and Spain from 39 from 39 The GW increased significantly to 76 GW, an increase of 94%, and Germany, which has long been a European photovoltaic town for a long time, changed the installation target from 200 GW to 215 GW as early as the Ukraine War.

Looking at it, the development of European countries will promote the terminal demand in the photovoltaic market. According to Infolink, the demand for photovoltaic components in the European market (including the UK) in 2023 is roughly between 92-114 GW. Although it is affected by problems such as excess inventory and lack of work in the short term, in the long run, in the long run, it is expected that in the long run, and the optimization of supply chain technology and costs, it is expected that by 2027, component demand in the European market will reach 141- 160 GW, the compound growth rate (CAGR) is about 7%-8.9%, which shows that the growth potential of the European photovoltaic market is still quite considerable.