Recently, technavio released a new report focusing on the global distributed solar power market.

According to this study, the market will grow at an annual rate of 21% from 2020 to 2024. By 2024, market revenue is expected to grow by $51.07 billion.

The factors driving the growth of the distributed solar market include the rising cost of electricity, so it is necessary to make energy cost-effective to bear the high cost of power grid expansion, and the increasing popularity of microgrid. It is expected that 71% of the growth will come from the Asia Pacific region. The reasons for the continuous growth of energy demand include population growth, rapid urbanization, electrification of transportation and heating industries, the increase in the number of electronic connection equipment and digitization.

The "Yiwu Photovoltaic Industry Development Plan" puts forward that the overall strategic positioning will be to build a "bright capital of the world". By 2025, the total output value of the photovoltaic industry will reach 100 billion yuan.

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