LONGi at 2025 WEF Annual Meeting: Solar Beating All Expectations
DAWOS, Switzerland, Jan. 23, 2025 /PRNewswire/ -- The World Economic Forum Annual Meeting, also known as the Davos Conference, kicked off on January 20th in Davos, Switzerland. This year's meeting, themed " Collaboration for the Intelligent Age," has attracted nearly 3,000 global leaders from over 130 countries and regions to address key global and regional challenges. Zhong Baoshen, Chairman of LONGi and Eric Luo, Vice President of LONGi, attended the conference as representatives of Chinese solar photovoltaic enterprises. They shared the latest developments and future trends of the solar energy industry with numerous political elites and business leaders.
On the afternoon of January 21st, Zhong Baoshen attended the Ideas Hub session themed "Solar: Beating All Expectations" and delivered a speech. Vice President Eric Luo shared insights from the perspective of a leading solar photovoltaic (PV) enterprise, highlighting how exponential growth in the solar PV industry has injected new momentum into achieving global climate goals.
Zhong Baoshen introduced that the photovoltaic industry has achieved remarkable development, not only experiencing exponential growth but also playing a significant role in the energy transition process. "From 1954 to 2022, it took 68 years to surpass the first terawatt, while the second terawatt was achieved in just two short years. This highlights the rapid development of the solar industry in recent years. The International Energy Agency (IEA) forecasts that by 2030, the global installed capacity of solar PV is expected to exceed 4,000 gigawatts (GW). However, I personally believe it will surpass 5,000 GW."
Nowadays, the cost of solar PV systems has dropped to approximately 1/820 of what it was in 1975. Eric Luo highlighted the world records set by LONGi in 2024, including a 27.30% efficiency for monocrystalline silicon solar cells and a 34.6% efficiency for crystalline silicon–perovskite tandem solar cells. He emphasized that LONGi's relentless commitment to technological innovation has not only boosted conversion efficiency but also reduced the levelized cost of electricity (LCOE). These efforts have significantly bolstered the global push towards achieving net-zero emissions.
Zhong Baoshen pointed out that the installed capacity of solar PV will see a several-fold increase in just a few years, with its development speed far surpassing previous expectations. Solar PV is now an unstoppable force, becoming the core driving element of the global energy transition and profoundly reshaping the global energy landscape.
While achieving technological innovation, LONGi has also actively promoted innovation in intelligent manufacturing. At the 2024 Davos Conference, LONGi's Jiaxing Base became the only "Lighthouse Factory" in the global photovoltaic industry. Eric Luo introduced that LONGi has extensively adopted new technologies such as the Industrial Internet of Things (IIoT), big data, artificial intelligence, and digital twins in the Lighthouse Factory, successfully implementing over 30 digital use cases. This has effectively propelled the photovoltaic industry's leap from "manufacturing" to "intelligent manufacturing" and further demonstrated the huge potential of digital transformation in the field of solar photovoltaic manufacturing.
Ten years ago, the energy sector was confronted with the so-called 'Energy Trilemma,' which posited that environmental protection, economic viability, and energy security could not be achieved simultaneously. However, rapid technological advancements, especially significant breakthroughs in the solar photovoltaic (PV) field, have completely transformed this situation. Today, solar PV has become one of the most reliable, affordable, and sustainable base energies in the global energy system.
While meeting the world's growing energy demands, solar PV has also created more possibilities for the widespread adoption of emerging green energies such as energy storage technologies, green hydrogen, green ammonia, and green methanol. The extensive application of solar energy has further propelled the global deep decarbonization process, making significant contributions to combating climate change and achieving global sustainable development goals. This has elevated the development of the energy sector to a new level for humanity.
Eric Luo, drawing on the current innovation trends in solar photovoltaics, believes that solar energy will become increasingly intertwined with technologies such as energy storage, transportation, architecture, and smart grids in the future. For instance, integrating solar energy with energy storage can effectively address the intermittency of photovoltaic power generation, ensuring a stable electricity supply. The fusion of solar energy and architecture has given rise to Building-Integrated Photovoltaics (BIPV), which not only meets the energy needs of buildings but also feeds surplus power back into the grid, enabling more efficient energy utilization.
"Through continuous innovation in the integration of these technologies, we can attract more industries to collectively drive the global energy system towards a more intelligent and sustainable future. Solar photovoltaics will pave the way for a cleaner, more efficient, and more reliable energy future for humanity." Said by Eric Luo.
It is the collective efforts of the global industry that have driven a holistic transformation in the solar photovoltaic sector, spanning application scenarios, technological innovation, cost-effectiveness, and intelligent manufacturing.
"The future of solar energy will not only exceed expectations but also become a key force for the harmonious development of the global economy and environment. Let us work together to contribute more possibilities to the realization of the global net-zero goal." Zhong Baoshen concluded.
About LONGi
Founded in 2000, LONGi is committed to being the world's leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established several business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
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