China’s surge is not just a ripple but a tidal wave, with over US$450 billion in surplus factory investment threatening to flood the market over the next three years.
Global module prices are unlikely to fall much further and could begin to stabilise, the chairmen of two of China’s largest PV manufacturers, Trina Solar and JinkoSolar, have said.
Clean energy manufacturing – led by solar PV expansions – accounted for 4% of global GDP growth in 2023, according to a new report from the International Energy Agency (IEA).
Price of polysilicon decreased this week both for p-type and n-type materials with the former dropping below the historic low of US$6.75/kg reached in June 2020.
Canadian Solar has warned of solar cell overcapacity next year, slamming the breaks on its own cell manufacturing expansion plans while accelerating on its module assembly roadmap.
The China-based PV manufacturing industry has been in a massive capacity expansion phase since 2019. This intensified in the first quarter of 2020 but had eased off through the year, but the cumulative figures are jaw dropping, which has led to real fears of overcapacity in 2021.
