Having passed 2023, China’s photovoltaic (PV) industry has maintained a strong momentum of ​increasing production while enhancing quality:

• Solar cell production grew by ​54% year-on-year,

• Global patent applications reached ​126,400, ranking ​first in the world,

• New solar installations in 2023 alone equaled the ​entire global PV capacity added in 2022.

Seizing Green Transition Opportunities: Accelerating PV Tech Iteration and Scale Expansion

Data released by the China Photovoltaic Industry Association (CPIA) shows that:

• In the first 10 months of 2023, the output value of the photovoltaic (PV) manufacturing sector exceeded ​1.3 trillion yuan;

• In the first three quarters of 2023, the production volumes of silicon materials, wafers, cells, and modules all surpassed the ​full-year figures of 2022, with exports of wafers, battery cells, and modules rising by ​88.3%, ​74.3%, and ​33%, respectively, year-on-year.

The steady expansion of the PV industry is underpinned by global trends toward green and low-carbon transformation, as well as opportunities arising from China’s push to achieve its ​**”dual carbon” goals** (carbon peaking and carbon neutrality).

A recent report released by the International Energy Agency (IEA) shows that in 2023, global renewable energy capacity additions surged by 50% year-on-year, reaching a record ​510 GW**, with solar photovoltaics (PV) accounting for nearly three-quarters of the total. By early 2025, renewables—including solar—will become the world’s leading source of electricity.

In China, as of ​November 2023, the nation’s cumulative installed solar capacity reached approximately ​560 GW, up ​49.9% year-on-year. Meanwhile, major power companies invested ​320.9 billion yuan in solar projects, reflecting a staggering ​60.5% growth compared to the previous year.

High-End & High-Efficiency: Competing Through Differentiation

In 2023, technologies such as tunnel oxide passivated contact (TOPCon) cells, heterojunction (HJT) cells, and back-contact (BC) cells accelerated industrialization. Meanwhile, perovskite and tandem solar cells achieved record-high conversion efficiencies, solidifying China’s leadership in global photovoltaic (PV) technology.

Innovate & Expand Overseas: Deepen & Broaden Market

Under the guidance of the “dual carbon” goals, the photovoltaic (PV) industry is deeply integrating with sectors such as industry, construction, and transportation. Through innovative application models, it continues to expand the depth and breadth of the market.

Liu Yiyang, deputy secretary – general of the China Photovoltaic Industry Association, introduced that currently, PV enterprises are building factories overseas. The destinations have expanded from mainly Southeast Asia to markets in the United States, the Middle East, Indonesia, etc. There are more links in the overseas production capacity layout, and it has become a trend for the entire PV industry chain, from upstream to downstream, to go global. “In addition, the industry has shifted from simply exporting products in the past to providing production, management, brand, and service, thus building a global ecosystem for win – win cooperation.”

PV products are transitioning from a pattern of “Made in China, sold globally” to “Globally made, sold globally”. Looking ahead, it is necessary to build a high – quality collaborative development ecosystem for the PV industry and further actively integrate into the global industrial system to carry out international cooperation in fields such as green energy, said Gao Jifan.