Is the photovoltaic industry poised for a transformation in 2023?

According to Zhang Sen, the industry is poised for a transformation due to the recurrent issue of oversupply. In 2023, prominent photovoltaic companies, including LONGi Solar, JA Solar, Jinko Solar, Trina Solar, and Tongwei, have unveiled their plans for expanding production.

Is China's photovoltaic industry poised for a transformation?

China's photovoltaic industry is undergoing a transformation due to the recurrent issue of oversupply as evidenced by plans from prominent companies like Longi Solar, JA Solar, Jinko Solar, Trina Solar, and Tongwei to expand production capacity.

Why is the solar PV industry struggling?

Marius Mordal Bakke, a senior supply chain analyst at Rystad Energy, emphasized his concerns about the declining prices of solar PV modules in the market and the challenges associated with destocking older modules, which were procured at higher costs. He underscored the necessity for the industry to adapt to shifting market dynamics.

Are Chinese solar panels causing global prices to collapse?

The group, the American Alliance for Solar Manufacturing Trade Committee, accused big Chinese solar panel makers with factories in Malaysia, Cambodia, Vietnam and Thailand of causing global prices to collapse by dumping products into the market.

What is PV Infolink's forecast for the global solar market?

PV Infolink’s Alan Tu probes the solar market situation and offers insights. PV InfoLink projects global PV module demand to reach 223 GW this year, with an optimistic forecast of 248 GW. Cumulative installed capacity is expected to reach 1 TW by year’s end. China still dominates PV demand.

Why are China's solar panels so expensive?

China accounts for 80% of solar module production capacity after years of subsidies, driving oversupply that has triggered a collapse in global prices and provoked import duties from trading partners to stave off being swamped by low-cost equipment.