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In the context of carbon neutrality and therise in traditional energy prices caused by the Ukrainian Russian war, theissue of energy transformation and security has become crucial. Thephotovoltaic markets around the world have recently used a series of policylevers to directly or indirectly support the growth of domestic photovoltaicmanufacturing industry. Among them, the European Union has officially announcedan energy plan called 'RepuowerEU'.

The REpowerEU program has set ambitiousgoals for the renewable energy industry, involving a funding scale of up to 210billion euros (approximately $221 billion) over the next five years, increasingimports of renewable energy and liquefied natural gas, and reducing energydemand, thereby reducing dependence on Russian energy and accelerating theshift towards green energy.

In addition to EU led policies, severalcountries in Europe have recently updated their renewable energy targets for2030. For example, Italy announced an increase in its photovoltaic installationtarget from 52 GW to 79.9 GW, an increase of approximately 53%. Spainsignificantly increased its target from 39 GW to 76 GW, an astonishing 94%increase. Germany, which has long been a major photovoltaic hub in Europe, hadalready changed its installation target from 200 GW to 215 GW during theUkrainian Russian War.

Overall, the policy development of Europeancountries will drive the terminal demand of the photovoltaic market. Accordingto Infolink, the demand for photovoltaic modules in the European market(including the UK) in 2023 is roughly between 92 and 114 GW. Despite beingaffected by issues such as excessive inventory and delayed grid connection progresscaused by job shortages in the short term, in the long run, in conjunction withfavorable policies, as well as optimization of supply chain technology andcosts, it is expected that by 2027, the demand for components in the Europeanmarket will reach 141-160 GW, with an annualized compound growth rate (CAGR) ofabout 7% -8.9%. Therefore, it can be seen that the growth potential of theEuropean photovoltaic market is still considerable.

At this moment, the wave of energytransformation is sweeping the world, and the unremitting efforts of counterpartsin the photovoltaic industry are objectively promoting greater technologicalfission and accelerating the process of energy revolution. Through theintegration of ecological circles, continuous cross-border combinations arecarried out, application scenarios are expanded, and new species, new formats,and new models are formed. MULTIFIT Solar fully leverages its own advantages,provides more high-quality products, solutions, and services, creates greater valuefor the local photovoltaic market, and, together with other counterparts andpartners, uses respective advantages to promote the popularization andapplication of photovoltaic new energy, making the photovoltaic industry shineand change.

In the future, MULTIFIT Solar will continueto adhere to the combination of core business and low-carbon transformation,actively improve the innovation ability of photovoltaic technology, follow thepath of high-quality green development, implement the concept of harmoniouscoexistence between humans and nature, and promote the global sustainabledevelopment process as a leader in photovoltaic technology. Full of newexpectations and shouldering new missions, we will base ourselves on thepresent and face the future, pragmatically and continuously strive tocontribute to the development of the new energy industry!