What Are The Bigger Business Opportunities in Europe in The Future?

Oct 18, 2022 Leave a message

Against the backdrop of the European energy crisis, the European Union will formulate the "digitalization of the energy system" plan, which is committed to promoting the development of renewable energy and ending dependence on Russian fossil fuels. It requires an investment of 565 billion euros (about 3.9 trillion yuan) in infrastructure by the end of 2030.


The plan has four specific objectives:

Before 2027, install solar panels on the roofs of all commercial and public buildings in the EU;


Before 2029, install solar panels on all new residential buildings in the EU;

10 million heat pumps will be installed in the next five years;

By the end of 2030, 30 million zero-emission vehicles will be put on the road.

At present, the penetration rate of heat pumps in Europe still has great room for improvement. Norway has 50 heat pumps per 1000 households, which is one of the countries with the highest retention in the EU. Spain and Finland have slightly more than 40 heat pumps per 1000 households, while the Czech Republic, Germany, Hungary, and the United Kingdom have less than 10 heat pumps per 1000 households.


And now Italy, Germany, Britain, and other European countries have introduced strong subsidy policies for the promotion of air-source heat pumps. European subsidies for the installation of an air source heat pump can be up to 5000 euros, which will be implemented in batches.


At present, China's heat pump capacity ranks first in the world, accounting for nearly 6 components of the world. In the first half of the year, China's export of air-source heat pumps increased by 71% in Spain, 198% in Italy, 373% in Poland, and 614% in Bulgaria.


Not to mention the export of solar energy equipment. According to the International Energy Agency, China's share in the manufacturing of solar panels in all stages exceeds 80%.


According to the data provided by China Photovoltaic Industry Association, in the first half of this year, the total export of photovoltaic silicon chips, battery chips, and modules reached 25.9 billion US dollars, up 113% year on year, reaching a new high.


According to China's customs export data, China's PV module export in July reached a new high of 15.7 GW, up 121% year on year, and the cumulative module export also reached 94.4 GW, up 105% year on year.


There is no doubt that photovoltaic products will become China's export category against the rising trend, especially in the European market, which will maintain rapid growth for at least the next 10 years!