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Photovoltaic industry is growing rapidly, and the logic of long-term improvement remains unchanged

Recently, a series of data show that the photovoltaic industry is still in a period of high growth.According to the latest data from the National Energy Administration, in the first quarter of 2023, 33.66 million kilowatts of new photovoltaic grids were connected to the national grid, a year-on-year increase of 154.8%. According to data from the China Photovoltaic Industry Association, the country’s inverter production in March increased by 30.7% month-on-month and 95.8% year-on-year. The first quarter performance of listed companies with photovoltaic concepts exceeded expectations, which also attracted the attention of investors. According to statistics, as of April 27, a total of 30 listed photovoltaic companies disclosed first-quarter results, and 27 net profits achieved year-on-year growth, accounting for 90%. Among them, 13 companies increased their net profit by more than 100% year-on-year.Supported by this benefit, the new energy track represented by photovoltaics has re-energized after several months of silence.The author believes that while investors pay attention to performance in the short term, they also need to pay attention to the long-term development logic of the industry.



In the past ten years, China’s photovoltaic industry has developed from scratch and has developed into a global giant. As one of the symbols of China’s advanced manufacturing industry, the photovoltaic industry is not only an important engine to promote China’s energy transformation, but also a strategic emerging industry for China to achieve leading advantages in the world. It is foreseeable that under the two-wheel drive of policy support and technological innovation and change, the photovoltaic industry will gradually mature and go far away.In terms of policy, under the guidance and support of national policies, the photovoltaic industry has fully driven to the fast lane of development. In the past decade, the scale of China’s photovoltaic market has continued to expand, and the number of new installed capacity has continued to break through record highs.

In 2022, the output value of China’s photovoltaic industry (excluding inverters) will exceed 1.4 trillion yuan, a record high. Recently, the “2023 Energy Work Guidelines” issued by the National Energy Administration proposed that the new installed capacity of wind power and photovoltaic will reach 160 million kilowatts in 2023, which will continue to hit a record high.In terms of technological innovation, China’s photovoltaic industry continues to make breakthroughs in key core technology areas, relying on independent and controllable patented technology and scale advantages, the cost of power generation has decreased by about 80% compared with ten years ago, the highest decline among a variety of renewable energy sources.

In recent years, supporting enterprises in all links of the photovoltaic industry chain have developed rapidly, and have continued to make breakthroughs in key core technologies of the photovoltaic industry through scientific and technological innovation, and occupy market share. For future development, leading photovoltaic listed companies have clearly stated that the industry will maintain good growth in the long term.The wind should be long, and the eye should be measured. Having a strong photovoltaic industry is crucial for China to achieve the “dual carbon” goal. We have reason to believe that the photovoltaic industry will develop in a healthy and orderly manner, and listed companies will also achieve higher quality development in continuous technological iterative updating, enhancing product market competitiveness and brand value.

Post time: Apr-28-2023