WEF 2024 in Davos providing window to PV industry, not only for Pakistan

Beijing: The five-day World Economic Forum Annual Meeting 2024 officially kicked off in Davos, Switzerland, with the theme “Rebuilding Trust”.

“It is necessary for us to make our voice heard on this global platform, WEF – to let the world know that the innovation of Chinese companies can promote the global energy transformation process and help the decarbonization transformation,” Zhong Baoshen, President of global leading renewable energy company LONGi, emphasized in an interview during the forum.

“Affordable and Clean Energy (SDG7) is key to achieve all United Nations Sustainable Development Goals for a more sustainable future. The decrease of solar power costs is the very foundation for energy equity at the global scale, especially to the underdeveloped regions,” Dennis She, Vice President of LONGi, pointed out during the Davos Summit.

Not long ago, LONGi promised to provide photovoltaic systems and solutions to Pakistan starting from 2024, providing safe, reliable and clean energy for public facilities of refugees and host communities, so that these places can study, work and operate businesses and other activities, China Economic Net (CEN) reported.

It is reported that over 780 million people, about 10% of world’s population, live in off-grid regions, most in the Sub-Saharan Desert areas. At the same time, since China surpassed Germany for the first time in 2013 to become the world’s largest photovoltaic application market, China’s photovoltaic industry has maintained a momentum of continuous growth.

According to the International Energy Agency (IEA), the world’s installed renewable energy capacity will grow rapidly in 2023, soaring to more than 440GW, a year-on-year increase of 107GW, becoming the largest increase in history. In December 2023, LONGi’s Jiaxing Production Base in China’s East Zhejiang Province was recognized by the World Economic Forum (WEF) as a Global Lighthouse Factory. This recognition was the world’s first solar module manufacturing base joining WEF’s Global Lighthouse Network (GLN).

LONGi’s Jiaxing Factory was one of the 21 new Global Lighthouse Factories recognized in 2023. “Many of LONGi’s technological innovations are industry-first, and independent patented technologies, and could reduce unit manufacturing costs by 28% within one year, unit energy consumption by 20%,” noted the WEF.

Although the photovoltaic industry faces many challenges in 2024 such as overcapacity caused by over-investment, Zhong still shows a positive attitude towards the development prospects.

“The global decarbonization trend has reached a consensus, and the trend of sustainable development of renewable energy is irreversible, absolutely. The climate change is a major issue faced by every corner of the world. In the face of such a premise, I firmly believe that all countries could put aside all contradictions and prejudices to unite, jointly facing challenges. The photovoltaic industry plays an indispensable role in the context of low-carbon and zero-carbon; thus, the times require us to make a difference.”