EU Announces New Plan Install 600GW By 2030

Recently, the European Union announced an energy plan called "RepowerEU", involving a funding scale of up to 210 billion euros (about 221 billion U.S. dollars) in the next five years. Double capacity to install 600GW by 2030.

"This is good for domestic photovoltaic companies, and the export of domestic photovoltaic products may be further accelerated." Wanlian Securities Investment Consultant Qu Fang said in an interview with a reporter from "Securities Daily".

The "RepowerEU" energy plan includes increasing imports of renewable energy and liquefied natural gas, reducing energy demand, thereby reducing energy dependence on Russia, and accelerating the transition to green energy.

The recent Russian-Ukrainian conflict has had an impact on the global energy supply. The EU's increase in the proportion of renewable energy, including photovoltaic power generation, is not only a response to climate change, but also out of strategic considerations such as energy independence and energy security. , to adapt to many new challenges and risk factors. As the price of fossil energy rises, not only in the EU but also globally, the demand for renewable energy is soaring.

Among them, Germany will increase the time to fully use renewable energy to 2035, stimulating demand for photovoltaic products.

Data from the European Photovoltaic Association shows that in 2021, Europe will add 25.9GW of photovoltaic installed capacity, a year-on-year increase of 34%; combined with export data, Europe's new photovoltaic installed capacity is expected to exceed 40GW in 2022, a year-on-year increase of more than 54%. Driven by the European market, CITIC Securities predicts that the global installed photovoltaic capacity is expected to reach 230GW in 2022, a year-on-year increase of more than 30%, and the demand rhythm is expected to improve quarter by quarter.

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