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The latest industry report of CIFM pointed out that from 2010 to 2020, photovoltaic and wind power are the forms of renewable energy with the largest cost reduction. According to the energy outlook for 2020 released by BP, the cost of wind power is expected to be dropped by 30-35% than that of 2018 in the next 30 years, and the cost of photovoltaic power generation will continue to drop by 65-70%.

The price for overseas bidding projects is generally more than 50% lower than the industry electricity price. The lowest bidding price for UAE in July 2020 is only 0.0135 USD/kWh, which is less than RMB 0.1/kWh, it is only 11% of the local commercial electricity price.

The estimated global installation capacity in 2021 is close to 170GW, with a year-on-year growth rate of 36%. In terms of different markets: 1) China’s installation capacity in 2021 is about 55-65GW, a year-on-year increase of 31-55%, of which the main increase comes from 33GW of parity projects in 2020 and 40% of bidding projects in 2020 which is 11GW. 2) The installation capacity of the United States in 2021 will be about 24GW, a year-on-year increase of about 28%. 2021 to 2023 is the decline period of ITC tax rebate policy , and the tide of rush to install is obvious. The contracted volume of PPA projects under construction is as high as about 60GW, and the installation capacity has grown rapidly in the past two years. 3) The installation capacity in Europe in 2021 will be about 27.5GW, with a year-on-year growth rate of 22%, and parity projects will be actively promoted. 4) In other regions, countries around the world are actively promoting the development of new energy, and the scale of installed capacity is expected to achieve steady growth.