Wu Fei, Chairman of DaoDe Investment, recently stated at the 2021 Shanghai University of Finance and Economics Alumni Summit that China's photovoltaic (PV) industry is expected to account for over 50% of global market share by 2040. The PV sector is poised for a global boom during the 14th Five-Year Plan period, with a guaranteed tenfold growth in the next 20 years. Over 60% of China's PV production is exported, while 40% is used domestically. Wu believes that solar energy will lead energy storage by 5 to 10 years, and energy storage will precede hydrogen fuel cells by another 5 to 10 years. In the future, coal and oil will no longer be the dominant energy sources. China's PV, energy storage, and hydrogen fuel cell technologies will far surpass the world, making China a major energy powerhouse, replacing the Middle East within 20 years.

Wu Fei, Chairman of DaoDe Investment

(The following is the video content of the speech)

At present, there are few photovoltaic manufacturing enterprises in Europe and America. So in this case, what we can believe and predict is that the proportion of photovoltaic installations will exceed 50% around 2040.

Several factors are involved here: one is the increment, which means the growth of the photovoltaic power generation will be very fast. Under certain circumstances, it will gradually change from a supplementary energy source to a dominant energy source, and then to a main energy source.

The second step is the growth of energy storage. In fact, lithium batteries are the main energy storage at present, and there may be sodium-ion batteries or lithium-ion batteries in the future, including hydrogen fuel cells in the future. Our judgment is that by 2030, the cost per kilowatt-hour of photovoltaic plus energy storage will be less than 20 cents. It will cause a significant impact on thermal power. Next, during the "14th Five-Year Plan" period, photostatic will have a big outbreak, and it will be a global outbreak. Over 60% of China's photovoltaic products are exported, while 40% are for domestic use. During this period, the industry is experiencing a huge outbreak.

Therefore, we believe that photostatic will experience a growth of over 10 times in the next 20 years, and solar energy will be 5 to 10 years ahead of energy storage, which will be 5 to 10 years ahead of hydrogen fuel cells. In this way, it will become a mature energy system for the whole earth in about 20 years. Solar energy as a primary source of electricity, and then hydrogen fuel cells as a secondary source of electricity. So our judgment is that oil and coal will no longer be the main energy fuels in the future. So at that time, the energy power is no longer the Middle East, and the energy power is inevitably China. China will be far ahead of the world in photovoltaic and energy storage, including hydrogen fuel cells. So at this time, the real energy power will become China. We can see this day, which will be realized within 20 years.

The above is an excerpt of Wu Fei's speech at the "2021 Shanghai University of Finance and Economics Alumni Summit Forum" hosted by the Shanghai University of Finance and Economics Alumni Association, supported by Fullgoal Fund Management Co., Ltd., and presented by the China Economic Forum of China Business News

Source: First Financial News