Under the background of carbon neutrality, “new oil”, photovoltaics will be the first protagonist of future energy development

Foreword: In September last year, President Xi announced at the United Nations General Assembly: China’s carbon dioxide emissions will peak by 2030 and be carbon neutral by 2060. This solemn commitment demonstrates China’s role as a major country in actively responding to climate change and promoting the building of a community with a shared future for mankind. More than 190 countries around the world have once again formed a high degree of consensus to jointly tackle global climate change.

On September 10, the 2021 4th China International Photovoltaic Industry Summit Forum was successfully held in Chengdu, Sichuan. The chairman of Tongwei Group’s board of directors pointed out at the forum: “China has formed an annual photovoltaic system capacity of about 200GW, and the electricity generated by the products produced each year is equivalent to the equivalent of 100 million tons of oil. Photovoltaics is the background of carbon neutrality. The new oil, the future energy exporting country is very likely to turn from the Middle East to China, changing the world’s new energy landscape.”

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Need to balance economic development and environmental protection

As early as August 9, the latest climate analysis report issued by the United Nations pointed out that since the 19th century, humans have obtained energy through the burning of fossil fuels, resulting in global temperatures that are 1.1 degrees Celsius higher than the pre-industrial level. The temperature will continue to rise in ten years, and by then it may be 1.5 degrees Celsius higher than the pre-industrial level.

The report points out that at the end of this century, it is difficult to stabilize the climate at a temperature rise of 1.5 degrees Celsius before the level of industrialization and to achieve the goals of the Paris Agreement. To achieve the goals of the Paris Agreement, carbon dioxide emissions need to be significantly reduced in the next 10 years, and net zero emissions will be achieved by 2050. The Secretary-General of the United Nations therefore pointed out that this report is “a red alert for mankind. Before coal and fossil fuels destroy the earth, their death knell must be sounded!”

“Photovoltaics is the new oil”

At the beginning of this year, Sinopec proposed to build a “one base, two wings, three new” development pattern based on energy resources, with clean energy and synthetic materials as its two wings, and new energy, new economy, and new fields as important growth points. The investment in Fengyang Silicon Valley Intelligent Co., Ltd. is in line with Sinopec’s development direction of “building the world’s leading clean energy chemical company”. It has both financial investment and industrial synergy, and will help Sinopec to take greater steps in new energy and new fields. In addition to Sinopec, large domestic and foreign oil companies have plans to deploy in the field of new energy such as solar energy, and domestic PetroChina and CNOOC are also deploying in the field of new energy. There are more oil companies deploying new energy overseas, and world-class oil companies such as Total, Shell, and BP are all involved in this.

Research and analysis have shown that photovoltaics are the new oil under the background of carbon neutrality. In the future, the major energy exporting countries are likely to switch from the Middle East to China, changing the world’s new energy pattern. This is why the oil giants are so interested in photovoltaics?

As the cost of photovoltaic power generation is reduced to the stage of parity, the global photovoltaic power generation industry is about to enter a new round of stable growth, and photovoltaic power generation will gradually become an important energy supply method. Before the fossil fuel market begins to shrink, Chinese oil companies need to use fossil energy profits to invest in clean energy fields such as photovoltaics to cope with changes in the future energy supply pattern and avoid becoming a single industrial raw material provider.

With the acceleration of the reform of China’s power system, oil companies have the conditions to become power suppliers; oil companies have the space resource endowment to develop the photovoltaic industry, and oil companies can take advantage of the synergy of the industrial chain.

Photovoltaic will be the first protagonist of future energy development

Among the technological paths that can be seen in the next few decades, photovoltaics are relatively inexhaustible, with unlimited resources, high conversion efficiency, short paths, and high use efficiency. They will become the first protagonist of carbon neutrality. Some say it will account for 40% of the future energy composition, and some say it will reach 80%. There is a high probability that 60% to 80% will be provided by photovoltaics. At the same time, with the sound development of China’s photovoltaic industry itself and the resolute implementation of government departments, coupled with a virtuous economic cycle, China’s dual carbon goal may be achieved 5 to 10 years ahead of schedule with the joint efforts of everyone. Photovoltaics is the new oil in the context of carbon neutrality. In the future, major energy exporting countries are likely to switch from the Middle East to China, changing the world’s new energy pattern.

Therefore, photovoltaic power generation has become the most economical power generation method in many countries and regions around the world. It has the conditions for large-scale application and gradually replaces fossil energy, and will become the first protagonist of future energy development.

Posted by Carrie Wong | WSL Solar

WSL Solar has been a quality and professional manufacturer of custom solar panel and solar solution provider in China since 2006.


Source of origin: https://www.wsl-solar.com/Industry_News/2021/0923/photovoltaics-the-first-protagonist-of-f.html


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