On January 2, 2024, the German EconomicWeekly website reported that the BSW reported that in 2023, Germany installedover one million new photovoltaic power generation and heating systems, settinga historical record. Among them, about half of the newly installed equipmentcomes from private households, 31% are open space systems, and 18% arecommercial rooftop photovoltaic systems. The growth of home balcony solar powergeneration equipment is rapid, with a total of 270000 sets installed throughoutthe year.

According to data, Germany has currentlyinstalled approximately 3.7 million photovoltaic power generation systems,generating 62 billion KWh electricity annually, accounting for approximately12% of Germany's electricity consumption. Given the continuous rise inelectricity prices and the possibility of government subsidies, BSW predictsthat the demand for German photovoltaic systems will continue to rise in 2024,with a new installed capacity demand of 1.5 million units. This prediction isbased on a recent survey by Yougov, a polling agency, which found that 69% ofeligible homeowners intend to install rooftop photovoltaic systems, 16% ofhomeowners plan to install them within the next year, and the commercialrooftop and open space photovoltaic markets will continue to grow.

On January 2nd, the Austrian Standardreported that the Austrian Federal Photovoltaic Association stated thatAustria's photovoltaic power generation capacity increased by about 2 gigawattslast year, which is twice the amount in 2022. In the future, it is necessary toreach this level every year in order to achieve complete coverage of renewableenergy for power generation by 2030. The favorable factors facing thephotovoltaic industry in 2024 include the exemption of value-added tax on newphotovoltaic systems below 35 kilowatts in the future, a more stable supplychain for photovoltaic modules, and a continuous decline in module and batterystorage prices.

According to local media in South Africa onMarch 5th, Bloomberg New Energy Finance (BNEF) released a report stating thatSouth Africa is expected to become the world's tenth largest photovoltaicmarket by 2024, and the dominant position of solar photovoltaics in the countrywill continue to grow. Eskom estimates that the total installed capacity ofrooftop solar energy in South Africa will be 2.6 gigawatts in 2023. Theinstallation of rooftop solar energy in South Africa will further increase in2024, especially in May, June, and July, when power load shedding will becomemore frequent and severe. The South African Photovoltaic Industry Association(SAPVIA) pointed out that since the beginning of 2023, a total of 4.3 gigawattsof solar energy projects have been registered with the South African NationalEnergy Regulatory Authority. BNEF states that it is expected that SouthAfrica's installed capacity will range from 4 gigawatts to 4.5 gigawatts in2024, and the cumulative installed capacity will reach approximately 36GW by2030.

All in all, there is still enormous growthpotential in the photovoltaic industry, and people's demand for photovoltaicproducts is still on the rise. Faced with a prosperous photovoltaic industry,MULTIFIT will continue to supply high-quality and competitively pricedproducts, continuously inject research and development funds, develop newproducts, and update existing products, such as solar electric cleaningbrushes, fully automatic solar cleaning robots, off grid inverters, hybridinverter, solar controllers, etc., to provide more high-quality products andprofessional services for consumers.