According to a white paper by the international market research organization IHS Markit, the global annual increase in renewable energy power generation capacity will increase from 200 GW in 2020 to about 250 GW in 2022, and then to more than 300 GW by 2024.

This growth is mainly driven by the decline in the cost of wind and solar energy, as well as the successive announcements of net zero commitments by the states and enterprises.

UISOLAR -as one of top 5 Solar racking supplier in China , also tried our best to offer cheap and good quality racking to all over the wold.

IHS said that from 2015 to 2021, the average cost of solar photovoltaic (PV) systems fell by 54%, and solar energy has now become "the resource of choice in almost all places." It will account for the major share of new renewable energy capacity added between 2021 and 2024. UISOLAR has just completed a 500kw ground mounting in Guatemala recently, and the prospects for the photovoltaic mounting industry are promising.

Germany, Italy, Spain, South Korea and other countries have recently increased or plan to increase their solar energy development goals. These markets are our main market. UISOLAR sell a lot of racking to EU, USA and so on.

On the other hand, onshore wind energy will achieve record installations in 2020, and the newly installed capacity will reach 120 GW. It is expected that 2021 will be another strong year.

IHS Markit pointed out that the auction system and corporate buyers are two important factors that support the future growth of renewable energy. "New markets such as Ecuador and Myanmar held their first auctions in 2020, Vietnam is about to conduct its first solar tender, and newcomers such as the Philippines and Slovakia are likely to also conduct the first round of auctions in 2021."

At the same time, the corporate power purchase agreement (CPPA) is on the rise. In the United States, new corporate offtake transactions are almost equivalent to all other renewable energy contracts signed in 2020.