It Is a Best Chance for Solar Cable Wholesalers to Expand Your Business?

According to Rystad Energy's research, the world's newly installed renewable energy installed capacity has reached at 227GW in 2021, with an annual growth rate of 4.7%. Due to the growth of solar and hydrogen energy, it is expected that the global installed capacity of new renewable energy will reach at 270GW next year. For the solar cable industry, this is also a very excited news and it's time for both wholesalers and manufacturers to expand their dc wire for solar panel business. 

The independent energy research and business intelligence company Rystad Energy stated that the installed utility solar photovoltaic, residential solar photovoltaic, offshore wind energy, batteries and other forms of energy storage have increased in 2021, but onshore wind energy has not increased, mainly due to China is gradually reducing subsidies to the industry.

For the dc wire for solar panel purchasers, wholesalers, project contractors or buyers all over the world, increase of the installed utility solar photovoltaic and residential solar photovoltaic will be a very beneficial news, it is likely the demand of 6mm, 4mm solar cable will have a increase largely, because in the solar module installation, 6mm, 4mm solar dc cable both belong to very common used size. Besides, for the solar cable manufacturer or supplier, it's time to accelerate the improvement of quality control in the production so that the dc wire for solar panel you manufacture can satisfy the more strict requirment.

It is estimated that the global onshore wind power deployment has been reduced by about 20GW to 85GW in 2021, and it is expected to further reduce by 15GW in 2022. Due to the soaring demand for renewable energy, this trend is likely to be reversed in 2023.
At the same time, this year is particularly beneficial for residential solar photovoltaic, which for the first time surpassed the new commercial and industrial (C&I) solar photovoltaic in terms of annual capacity increase. The installed capacity of residential solar photovoltaic power will increase from 18.9 GW in 2020 to 25.2 GW in 2021. It's likely newly installed industrial or commercial solar power will drop from 20.6GW in 2020 to 19.9GW.

Not long time ago JZD Cable also completed the 2021 annual customer report and we found 68% customers were purchasing the dc wire for solar panel used in lots of residential solar photovoltaics or utility solar photovoltaics. It seems that our report accord with the analysis from the independent energy research and business intelligence company Rystad Energy.

Rystad Energy said that although new utility solar installations have increased by 15%, if it were not for the delay of 20GW projects, this segment of the market might be more impressive this year, noting that due to the expected increase in module prices, in 2022 projects up to 50GW per year may be postponed or canceled.

The research company also focuses on electrolyzer-based hydrogen production because they are combined with new solar photovoltaic and wind energy. In the early 11 months of 2021, global developers announced 245 GW of green hydrogen projects, six times the 2020 level, such as 30 GW in Mauritania and 45 GW in Kazakhstan. According to the actual increase of electrolyzers in 2021, they will rise from 0.04 GW in 2020 to 0.8 GW.

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