Current situation of the Chinese Solar PV industry: Transboundary Companies Enter the PV Industry

مؤلف：Solis وقت：2022-06-30 16:05:12.0 Pageviews：603

Ningbo, China.June 29,2022.Since the start of 2022, 50 Chinese companies have entered the solar PV industry and invested in the construction of PV stations. Distributed solar PV and heterojunction remain pivotal for successful cross border business. Polysilicon is another focus and some new entrants have even tried to establish their own PV supply chain. These companies include well-known names such as Midea, TCL, Haier and Total as well as clean energy giants Shuifa Energy Group and Hunan Development Group. Even automotive and EV companies such as Tuopu, Haima and Lvliang Group, and construction companies Trendzone Holdings, Hongrun, Lets Tech and Bauing Group are dipping their toes into Solar.

In the context of a booming PV industry, in addition to new companies entering the PV supply chain, listed companies expand their production in both the upstream and downstream sectors of the solar industry. Compared with new entrants, established companies successfully extend their reach to upstream and downstream, in the hope of obtaining profits from the extended market. According to PV industry insiders, against the backdrop of silicon shortage and technological innovation, new solar projects are in the pipeline. However, given the fact that PV is a cost-sensitive industry, it remains to be seen whether these new entrants can seize the opportunity, choose a suitable technology roadmap and realize returns.

In May of this year, PV module exports from China totaled USD3.965 billion, up by 101% YoY. From January to May, cumulative export reached USD17.809 billion, up too by 101% YoY. The average export price of monocrystalline silicon wafer continues to rise. After reaching a low in March, the average export price of solar cells has seen a rebound. There is a trend of overall price rise with strong overseas demand, independent demand for energy continues to rise.

Impacted by the Russia-Ukraine war, PV installation demand in European markets continues to exceed expectations. Positive marginal effect of US tariff policy further demonstrates that it is difficult for overseas markets to decouple from Chinese solar PV manufacturing. The demand of emerging markets such as Brazil, Southeast Asia, Middle East and Africa is accelerated. It is predicted that overseas solar installations will reach 160GW in 2022, up by about 40% YoY.

Ginlong Technologies (Solis) ranks top 3 in 2021 Global PV Inverter Shipments according to IHS Markit (now part of S&P Global). Thanks to the outlook of the PV industry and accelerated overseas development,Solis' share of sales in Europe has increased by more than 40% in Q1 2022. Solis' sales in the US market have also increased. The company has increased its own manufacturing capacity to adapt to this growth and ongoing increase in demand as well as the shift towards energy storage products. 2022 sees the launch of new 6th generation residential energy storage inverters and entry into a new sector with the off-grid inverter. It is predicted that Solis' energy storage production capacity will reach 1000+ units per month in July, which will further improve its ability to supply consistently and efficiently.

(Source: Securities Times, ShangHai Securities News and other publicly available online materials.)

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Current situation of the Chinese Solar PV industry: Transboundary Companies Enter the PV Industry

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