PV module champion changed hands: production exceeded 75GW, surpassing Trina Solar and LONGi Green Energy.
By the end of 2023, the country's installed solar capacity will reach about 60949 gigawatts, with an average annual growth rate of 552%；Last year, 216 new PV installations were added88 gigawatts, a record high, a massive increase of 148% over the previous year, and almost as much as the total number of new PV installations over the past four years.
The photovoltaic industry chain is mainly divided into five major links: silicon materials, silicon wafers, cells, modules and power stations. Among them, photovoltaic modules are the core of photovoltaic power generation systems, which refers to the smallest photovoltaic cell combination device that can provide direct current output, and is also the direct carrier to the downstream terminal.
China provides more than 80% of PV modules to the global market. As the main indicator of the competition of photovoltaic module enterprises, the shipment volume handed over a brilliant report card last year, and the industry standard has also undergone a relatively big change.
The company has built large-scale module bases in Hefei, Anhui Province and Funing, Jiangsu Province, with a full-line large-scale module production capacity of 27GW, which can produce high-efficiency photovoltaic modules such as 210 182 Topcon Perc. Recently, the company successfully won the bid for the centralized procurement project of photovoltaic module equipment for the photovoltaic project in Hotan area of China Resources New Energy Xinjiang Company, which is the following signing of 1Another gigawatt order following the 1GW solar module supply contract.
New energy is a typical representative of the new forces of components in the past two years, from the establishment of the first domestic TOPCon high-efficiency battery R&D line in 2019 to TOPCon 3 last year0 PLUS battery mass production, once again among the top 10, this year the production capacity will be increased to 40GW.
At the end of last year, the design capacity of high-efficiency solar cells (TOPCon technology route) with an annual output of 10GW in Chuzhou, Anhui Province has been ramped up to mass production, and the heterojunction production capacity of Jintan, Jiangsu Province and Ninghai City, Zhejiang Province has also been partially mass-produced, reaching 9GW.
Tongwei Solar and Chint Solar's supply has doubled from the previous year and is expected to be between 28 and 30 gigawatts. Since entering the PV module field in the second half of 2022, Tongwei has rapidly achieved a large-scale layout with its strong profitability in the polysilicon field and its position as the largest cell manufacturer, and now has 63GW of module production capacity, and 25GW of high-efficiency module projects in Yancheng and 16GW in Jintang have all been put into production.
Chint Solar's momentum is also strong, which is the photovoltaic module that Chint Group is betting on, and in July last year it completed a 2 billion yuan Series C financing and a post-investment valuation of 13 billion yuan. It has built 55 GW of module capacity, of which 81% is Topcon capacity.
As the second echelon"Leader"Atlas deliveries are expected to exceed 30 gigawatts, up more than 40% from the previous year, but that lead no longer exists. It is worth mentioning that both Tongwei Solar and Chint Solar have proposed"More than 50 GW of module deliveries in 2024"goals, while Atlas is targeting 42-47 GW. It is foreseeable that this year's level 5-7 battle will be more intense, and it is still unknown who will win and who will lose.
The Big Four"of 's module shipments totaled more than 270 GW, accounting for half of the entire industry. JA Solar's module shipments are expected to exceed 60 gigawatts, up about 50% from the previous year. LONGi Green Energy's module shipments are expected to be between 65 and 67 gigawatts, still maintaining an annual growth rate of more than 45%, but it has lost its champion position in the past three years.
In the case of overcapacity in the industry and increasingly fierce competition, LONGi achieved operating income of 294 in the third quarter of last year500 million yuan, net profit 251.5 billion yuan, down 18 percent year-on-year92% and 4405%。Founder Li Zhenguo admits that there was a strategic mistake:"When a friend entered the market with a low-priced order, LONGi did not follow up, affecting module sales and deliveries in the fourth quarter. "
Trina Solar ranks second, with module shipments expected to reach around 70 GW by 2023, with an annual growth rate of about 50%. This home is located in:"New energy capital"The 210 size, a leading solar PV module company in Changzhou, Jiangsu Province, has been accepted and adopted by the entire industry, with a module power of more than 700W. The name 210 refers to the length of the silicon wafer in the module"210 mm"Generally speaking, the larger the wafer size, the larger the light-receiving area of the module, and the manufacturing cost per kilowatt-hour decreases while the power generation increases. The innovation of rectangular silicon wafers has propelled Trina Solar to a leader in module power.
JinkoSolar is also a beneficiary of technological innovation, and is the first company in the industry to bet on N-type TOPCon technology, the penetration rate of N-type photovoltaic products continues to rise, achieving an annual growth of about 70% last year, and returning to the first place after a three-year hiatus, with a supply volume of 75+ GW (ranking first in the industry for three consecutive years from 2016 to 2019), and a market share of about 145% to 15%.
Last year, JinkoSolar expected a net profit of 72500 million yuan-79500 million yuan, a year-on-year increase of 14692%-170.76%。As of December 31, 2023, JinkoSolar has accumulated more than 210 GW of supply, ranking in both the 2023 supply list and the total supply list"First"。
Write at the end. As the cost gap between n-type products and p-type products continues to narrow, n-type products with more advanced performance have gradually become the first choice for customers at home and abroad. Global demand for PV modules is expected to grow at a rate of 20% to 30% this year, and the market share of n-type PV modules is expected to rise from 25% last year to more than 70%.
In terms of N-type technology, TOPCon occupies a dominant position, and the TOP5 Jinko, Trina, JA Solar, and Atlas are all taking this route and are enjoying the dividends brought by the expansion of production. The LONGi route, which bets on BC, does not seem to be dominant, but it will further increase investment, hoping to achieve a leading position after energy storage by freeing up BC production capacity and technology gaps.
In addition to technical iteration,"amount"It is another keyword in the PV module market in 2023, which has almost halved, from 1 at the beginning of 20238-1.9 yuan watts, less than 0 by the end of the year9 yuan watts, which is already equal or even lower than the cost of photovoltaic modules. Obviously, this is a challenge for all businesses, and this year may open up the industry"Reinvent the Year", a large number of small and medium-sized enterprises and cross-border entrants will fall.