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At the time of significant expansion ofdomestic photovoltaic production capacity in China, overseas marketsrepresented by the United States, India, and Europe have also sparked a"wave" of domestic photovoltaic manufacturing.

Based on the predicted data from variousinstitutions, by the end of 2023, the global production capacity of siliconmaterials, silicon wafers, battery cells, and components will exceed 800GW,ushering in a new development node for the photovoltaic industry.

With the promotion of localization ofphotovoltaic product production and supply chain traceability in majorcountries and regions, international companies have successively launched newproduction capacity or plant construction plans under the support of the marketand policies, and the international competition in the photovoltaicmanufacturing industry is becoming increasingly fierce.

According to media tracking ofinternational photovoltaic production capacity construction, the developmentsituation of overseas photovoltaic manufacturing can be described as in fullswing, with the United States, India, and Germany showing the most obviousperformance.

Previous reports from the InternationalEnergy Agency (IEA) showed that global photovoltaic manufacturing capacityincreased by over 70% in 2022, reaching nearly 450GW. The agency also predictsthat global production capacity will double again by 2024, reaching nearly 1TWper year.

The IEA stated that China remains thelargest contributor to this growth, while the United States and India are alsopromoting new manufacturing projects, while Europe's manufacturing capacitygrowth is relatively small. Without manufacturing policies or local contentpremiums, the EU's solar photovoltaic manufacturing competitiveness is inferiorto India or the United States.

Overall, the solar photovoltaic industry isin a rapidly rising stage, and the mutual game between the industrial chainshas entered a white-hot state.

As a member of numerous internationalphotovoltaic enterprises, MULTIFIT Solar will promptly pay attention to thelatest industry research and development trends in the current complexenvironment of the photovoltaic industry, reserve differentiated technologiesin a timely manner, continue to increase investment in research and developmentof solar cleaning equipment, inverters, mobile power banks, photovoltaiccombiner boxes, solar controllers and other products, and produce morehigh-quality products to ensure an invincible position in market competition.