China’s photovoltaic (PV) industry is seeing shifts in investment priorities as policy support and technological advancements continue to shape the sector.
Source: International Financial News
China’s photovoltaic (PV) industry is seeing shifts in investment priorities as policy support and technological advancements continue to shape the sector. Since the start of 2025, a growing number of PV companies have unveiled investment plans or project updates, spanning next-generation technologies such as perovskite and back-contact (BC) cells, as well as integrated production strategies, including module manufacturing.
Industry experts believe the push toward new technologies underscores the sector’s drive for innovation and progress. The growing diversity of PV technologies is also expected to ease cutthroat competition and accelerate the phase-out of outdated capacity. Meanwhile, distributed PV is expected to take up a larger share of the market in the coming years.
The China Photovoltaic Industry Association recently released its China Photovoltaic Industry Development Roadmap (2024–2025), introducing new benchmarks for XBC cells and modules, updated projections for the market share of grid-line printing technology versus metal plate printing, and new efficiency targets for rigid/flexible perovskite-silicon tandem and perovskite-perovskite tandem solar cells. The association said these updates aim to reflect the latest technological advancements and provide clear direction for industry upgrades.
According to Shi Zhenwei, Chief PV Analyst at Shanghai Metals Market (SMM), companies are ramping up investments in emerging technologies as part of a broader effort to stay competitive. He noted that innovations such as perovskite and BC cells not only offer fresh growth opportunities but also serve as a means to eliminate outdated capacity, driving the industry forward.
Meanwhile, after a year of price volatility across the PV supply chain, the industry is witnessing a rare price rebound. According to market research firm InfoLink, silicon wafer prices have climbed again this week, with further hikes expected. As of March 20, wafer manufacturers were reportedly raising prices to RMB 1.23 per wafer for 183N and RMB 1.45 per wafer for 210RN. Module prices, which had already started rising in February, have now reached RMB 0.73–0.75 per watt in large-scale transactions. Industry analysts largely attribute the price surge to a surge in demand for distributed PV installations downstream.
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