The report states that investment in the global photovoltaic industry continues to accelerate, and it is expected that over $1’000’000’000 of investment will enter the photovoltaic field every day in 2023, with a total investment of $380’000’000’000 for the entire year, surpassing the oil sector for the first time.

The InternationalEnergy Agency stated that the acceleration of clean energy transformation maylead to a global decarbonization gap, and pointed out that over 90% of thegrowth in clean energy investment comes from developed countries and China.

Fatih Birol, DirectorGeneral of the International Energy Agency, stated at a press conference thatjust five years ago, the investment ratio between fossil fuels and clean energywas 1:1. The rapid development of clean energy is faster than many peoplerealize, which is evident in the investment trend that investment in cleantechnology is gradually surpassing fossil fuels.

Although theinvestment in renewable energy now exceeds that in fossil fuels, more obstaclesto deployment include the rising cost of key minerals, semiconductors and otherrelated components during the spread of the COVID-19 epidemic, the continuoushigh investment cost of wind turbines, the aging of power grids and the slowlicensing process.

In many developingcountries, weak grid infrastructure is a limiting factor for renewable energyinvestment, and investment is currently highly concentrated. Developedcountries and China account for 80% of global spending and have contributedalmost all of the growth in recent years, the International Energy Agency statedin its report.

The InternationalEnergy Agency stated that since 2019, China has been at the top of the globalclean energy investor rankings, followed by the European Union and the UnitedStates. However, the report claims that the financial support received by theUS renewable energy industry from the Inflation Reduction Act is preparing forthe rapid development of the industry.

The report states thatglobal economic factors are hindering clean energy investment in emerging anddeveloping economies. These investments are being hindered by rising interestrates, unclear policy frameworks and market designs, tight public utilities,and high investment costs.

The InternationalEnergy Agency stated in its press release that “the international community needsto do more, especially in promoting investment in low-income countries, astheir private sector has been unwilling to take on such risks.”

Since itsestablishment in 2009, MULTIFIT Solar has laid out the photovoltaic industrywith a forward-looking perspective, empowered research and developmentachievements with advanced concepts, and focused on providing efficientphotovoltaic power station construction, cleaning and maintenance solutions, aswell as innovative research and development of new energy electrical products.It has cultivated a group of sales and research and development teams withideals, experience, and technology. The product has obtained over 50 patentcertificates and has been exported in bulk to over 50 countries and regionsaround the world, including Europe, America, Asia, Africa, and Latin America.

 In the future, we will always adhere to the development mission of "efficient and energy-saving,sunshinefor you multifit to all",  based on the photovoltaic industry,and strive to become a leader in the photovoltaic power generation industry.