PV + Energy Storage will be Cheapest Energy Soln in 10 Years: Li Zhenguo

Once the economic efficiency of the PV and energy storage is realized, traditional fossil fuels will be quickly replaced, Li said.

China-based LONGi Group President Li Zhenguo said that within ten years, photovoltaic plus energy storage will become the cheapest energy solution. He was speaking at the 9th China-Germany Economic and Technical Cooperation Forum in Berlin, Germany.

Further, the event was jointly hosted by the National Development and Reform Commission of China and the Federal Ministry for Economic Affairs and Energy of Germany. Also, the forum included distinguished guests and speakers such as Chinese Premier Li Keqiang and German Chancellor Angela Merkel.

While speaking on the ‘Energy Transformation and Energy Conservation’ topic, LONGi Group, President, Li Zhenguo said, “In recent years, PV technology has developed rapidly and cost has dropped quickly. In the past decade, continuous breakthroughs in technology, in both the speed of enhancing conversion efficiency and lowering costs have exceeded everybody’s imagination. In the next 2-3 years, PV will become the cheapest power source in most parts of the world. And, within 10 years, PV + energy storage will become the cheapest energy solution. Once the economic efficiency of the PV and energy storage is realized, traditional fossil fuels will be quickly replaced.”

“Photovoltaic power – when it achieves grid parity worldwide – can contribute to our social responsibility of restoring the earth’s ecology,” Li added.

He further said that, “Large-scale desalination of seawater can be powered with photovoltaic energy; the desalinated seawater can be transported to dry desert, creating arable land. When vegetation is formed, green plants absorb carbon dioxide in the air, reducing its concentration in the atmosphere and repairing the damage of human development to Earth.”

“Upholding the mission of ‘producing clean energy with clean energy’, LONGi has been accelerating the deployment of its high-efficiency production capacities in Yunnan and Malaysia since 2015, using almost 100% hydropower to produce PV products. This has benefited the local population with green production. With large-scale deployment of Photovoltaic + Energy Storage, we believe it will realize the manufacturing goal of ‘Solar for Solar’. Leaving future generation with green mountains and clean waters, and benefiting the global community with clean energy are our bound duty and responsibility!” Li further said.

More than 500 senior representatives of central and local government departments, enterprises, institutions, research institutes and industry associations from the economic and technological fields in China and Germany attended the forum, positively promoting China-German cooperation in economic and technological fields.

“Better utilizing sunshine, making a green energy world” is a development theme in LONGi. Let us work together and make this dream come true, as early as possible!