The global photovoltaic (PV) industry has recently achieved significant progress in technological innovation, policy support, and market expansion, reinforcing its role as a key driver of the energy transition amid carbon neutrality goals.
1.Technological Breakthroughs: Perovskite and HJT Advance Commercialization
Chinese companies continue to lead in perovskite PV technology. Firms like WonderSolar and GCL Nano have announced mass production plans, with lab efficiency exceeding 33%. Meanwhile, heterojunction (HJT) cell costs are declining, with Huasun and GS-Solar narrowing the gap with PERC technology, bolstered by superior bifacial performance.
2.Global Markets: Policy-Driven Localization
The U.S. Inflation Reduction Act (IRA) is boosting domestic PV manufacturing, with companies like First Solar expanding GW-scale factories. The EU’s Net-Zero Industry Act aims to meet 40% of PV demand with local production by 2030. Emerging markets (Middle East, Southeast Asia, Latin America) are witnessing surging installations, pushing global annual capacity additions beyond 350GW. 3
3. Sustainability: Recycling and Circular Economy
The EU mandates PV panel recycling rates above 85%. Chinese manufacturer JinkoSolar launched a full-lifecycle recycling program, recovering silicon and silver through physical and chemical processes to build a greener supply chain.
4. Challenges and Opportunities
Despite growth prospects, overcapacity and trade barriers (e.g., India’s ALMM, U.S. UFLPA) pose uncertainties. Companies must prioritize R&D and compliance to navigate global competition.
The PV industry is entering a phase of technological evolution and global expansion, where sustainability and innovation will define future success.
Multifit Solar has been dedicated to the photovoltaic industry for over 16 years, integrating R&D, production, and sales. Our products reach more than 50 countries worldwide, with customized solutions and premium services earning consistent acclaim from customers.
Post time: Apr-01-2025