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The annual report issued by theInternational Energy Agency shows that in 2023, the investment in the solarenergy industry will exceed that in oil for the first time. The Director of theInternational Energy Agency stressed that the investment in clean energy isgrowing faster than many people think. 90% of global investment in electricityproduction is invested in decarbonization technology.

The total investment in decarbonizationtechnologies (renewable energy, nuclear energy, electric vehicles, or heatpumps) in 2023 will reach $1.7 trillion, while the investment in fossil fuelswill be approximately $1 trillion. For every $1 invested in fossil energy,approximately $1.7 is invested in clean energy. The average annual growth rateof investment in oil, natural gas, and coal is about 15%; The annual growthrate of clean energy investment is 24%.

The growth of clean energy investment ismainly driven by solar energy investment. In 2023, an average of over $1billion per day ($380 billion for the entire year) was invested in the solarenergy industry, surpassing investment in the oil production sector for thefirst time ($370 billion for the entire year).

It must be pointed out that the investmentreturns on fossil fuels are not as abundant as before. The price fluctuation offossil fuels is extremely high, especially affected by geopolitical conflicts,which makes people very concerned about natural gas supply. The economicrecovery measures of the European Union, China, Japan, and the United Stateshave also exacerbated this supply tension trend. Some countries have raisedtaxes on fossil fuels, making companies less optimistic about the prospects ofinvestment returns.

But the pace of global energy investment isnot consistent. The increase in solar energy investment is mainly concentratedin the United States, Germany, Japan, France, and China, while the contributionof other regions of the world to the growth of solar energy investment is verysmall. The International Energy Agency calls on the international community tomobilize. Ironically, the investment in solar energy is the least in theregions with the most sunshine in the world.

As a technology company dedicated toresearch, production and sales of new energy industry products, Multifit Solaris extremely optimistic about the development prospects of new energy,especially solar energy. In order to enable more people to enjoy green energy,Multifit Solar has been working tirelessly on research and development. It hasbeen working in the field of photovoltaic systems and photovoltaic cleaning formore than 10 years, and has launched photovoltaic systems, Solar inverter,photovoltaic cleaning equipment and many other products, It has been exportedto over a hundred countries overseas, not only providing high returns for solarenergy investors, but also making a significant contribution to global energyconservation and emission reduction.

In the future, Multifit Solar will continueto maintain its original intention and shine for the people of the world in thefield of new energy, benefiting more new energy investors!