Latest News|China's Photovoltaic Equipment Market is Booming

Good Situation of Photovoltaic Market

Policy support: Many governments around the world have introduced policies to encourage and support the development of the photovoltaic industry, providing a strong guarantee for the photovoltaic market.

Technological innovation: Photovoltaic technology continues to make breakthroughs, improve photoelectric conversion efficiency and reduce costs, and further promote the popularity of the photovoltaic market.

Green environmental protection: Photovoltaic power generation is pollution-free and renewable, in line with the global trend of green development, and is favored by more and more enterprises and individuals.

1. According to the International Renewable Energy Agency (IRENA) :

The global PV newly installed capacity in 2013-2022 maintained an upward trend, and the global PV newly installed capacity reached 191.5GW in 2022, an increase of 35.6%.

2. According to data from China Energy News:

From January to October 2023, China's new photovoltaic installed capacity is 142.56GW, the year-on-year growth was 144.78%, accounting for 57% of all new power generation installed capacity. The export value of photovoltaic products reached 42.9 billion US dollars, and the export volume of silicon wafers, battery wafers and modules increased by 90%, 72% and 34% respectively. As of the end of October, China's cumulative installed capacity of photovoltaic is 535.76GW, becoming the second largest power supply in China's installed capacity.

Trend analysis

As the capacity of photovoltaic enterprises continues to expand, the orders of related equipment manufacturers continue to increase. According to the "2022-2027 China solar photovoltaic equipment industry research and investment risk research Forecast Report" released by the China Business Industry Research Institute, the scale of China's photovoltaic equipment industry in 2022 reached 41 billion yuan, an increase of 2.5%, and about 48.5 billion yuan in 2023.

Those data shows that the global investment and development of renewable energy has made remarkable progress in the past few years. More and more countries and regions are actively promoting the use of renewable energy to reduce carbon emissions and combat climate change.

With the localization of domestic photovoltaic equipment and the improvement of international competitiveness, the prospects of the photovoltaic equipment industry are very optimistic. As one of the top 20 photovoltaic support enterprises in China in 2023, CNTSUN will continue to innovate and improve product quality in the fierce market environment, maintain a competitive advantage, and contribute to the development of the photovoltaic market. Let us work together to create a better future for the photovoltaic market!