With multiple countries announcing their abandonment of coal, will the solar energy industry's salary and benefits rise again?

Recently, the G7 summit was held in the northern Italian city of Turin. The Group of Seven includes the United States, the United Kingdom, Germany, France, Italy, Canada, and Japan, these seven highly industrialized nations.

During the meeting, energy and ecological transition ministers from the G7 countries reached a consensus on gradually phasing out coal-fired power plants. The G7 pledged to "phase out existing coal-fired power generation in each country's energy system by 2035 or establish a timetable that is expected to achieve the 1.5-degree Celsius temperature control target and also align with each country's path to achieving net zero emissions."

In fact, some G7 countries such as the United States, Japan, and Germany in Europe have been reopening coal-fired power plants that have been shut down in recent years due to frequent extreme weather events and the shortage of natural gas supply caused by the Russia-Ukraine conflict.

This move once again strengthens the strategic position of the solar energy industry in global energy transition.

According to Energy Trend data, the neutral expectation for global PV (photovoltaic) new installed capacity in 2024 is 474GW. Due to the industry's "chaotic melee", the supply-demand structure is temporarily unstable, and the growth rate of installed capacity in 2024 will temporarily slow down. Nevertheless, there is still a 16% year-on-year increase.

Looking at the global market from four major regional markets, the demand for installed capacity in Asia and Europe is maintaining stable growth. The U.S. market is significantly rebounding, driving overall growth in the Americas. In the Middle East and Africa, the acceleration of energy transition strategies, coupled with a fall in component prices, is accelerating the construction progress of large-scale solar ground stations in Saudi Arabia, the United Arab Emirates, and other regions. In specific markets, Chile, Saudi Arabia, and Turkey have shown impressive growth rates.

(Sources:Energy Trend)

At the same time, global solar photovoltaic companies are offering high salaries to attract talent in order to accelerate their expansion. According to the latest financial report data, the current situation of the top five companies with the best average salary and benefits is as follows:

The production capacity plans of each company are as follows:

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