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A Brief Overview of China PV Industry

published: 2024-03-07 17:34

In terms of polysilicon, in 2023, the domestic polysilicon production reaches 1.43 million tons, a year-on-year increase of 66.9%. In 2024, with the release of technological transformation and the release of new capacity, the capacity is expected to exceed 2.1 million tons.

Chart: Domestic polysilicon production from 2010 to 2024 (Unit: 10,000 tons)

In terms of wafers, the domestic wafer capacity in 2023 is about 622GW, a year-on-year increase of 67.5%. With the gradual implementation of the production capacity of leading enterprises, it is expected that the national silicon wafer output will exceed 935GW in 2024.

Chart: Domestic wafer production from 2010 to 2024 (unit: GW)

In terms of cells, in 2023, the domestic cell capacity is about 545GW, a year-on-year increase of 64.9%. It is expected that the cell production in China will exceed 820GW in 2024.

Chart: Cell production in China from 2010 to 2024 (unit: GW)

In terms of modules, in 2023, China's module production reaches 499GW, up 69.3% year-on-year, dominated by crystalline silicon modules. Module production is expected to exceed 750GW in 2024.

Chart: Domestic module production from 2010 to 2024 (unit: GW)

In terms of the PV market, 216.88GW of new grid-connected PV capacity is added across the country in 2023. The cumulative grid-connected PV installation exceeds 600GW, ranking first in the world in terms of both new and cumulative installed capacity. It is expected that the new installed capacity of PV will exceed 200GW in 2024, and the cumulative installed capacity is expected to exceed 810GW.

Chart: Cumulative installation of solar power generation in China from 2010 to 2023 (unit: GW)

In terms of the efficiency, in 2023, the large-scale production of P-type cells have all used PERC technology, with an average conversion efficiency of 23.4% while N-type products have already made a name for themselves in the market, with an average conversion efficiency of 25% for TOPCon cells and 25.2% for HJT cells.

Chart: Trend of domestic cell mass-production conversion efficiency from 2008 to 2023

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