The Photovoltaic Industry in China: H1 2023 Report
The first half of 2023 has shown a significant increase in the performance of the photovoltaic (PV) industry in China. This report provides an analysis of the industry’s performance during this period, focusing on the export and production volumes of PV products.
Export of Photovoltaic Products
Preliminary estimates indicate that the total export volume of China’s PV products (silicon wafers, cell chips, and modules) exceeded $29 billion in the first half of 2023, marking an approximate growth of 13% year-on-year.
A closer examination of the types of exported products revealed a relative increase in the proportions of silicon wafers and cell chips, with a corresponding decrease in the module exports.
Geographically, Europe remains the largest market for China’s module exports, while silicon wafers and cell chips are predominantly exported to regions in Asia.
Production of Photovoltaic Products
China’s PV industry also experienced a significant surge in production during H1 2023. Polysilicon production exceeded 600,000 tons, marking a year-on-year growth exceeding 65%. Silicon wafer production surpassed 250 GW, an increase of more than 63% compared to the same period in the previous year. Cell chip production exceeded 220 GW, with a year-on-year increase exceeding 62%. Module production was over 200 GW, a growth of more than 60% from the previous year.
One of the most notable trends in 2023 has been the accelerated industrialization of Type-N (N-type) products. The dominant products are increasingly shifting towards N-type, with such products making up over 90% of the production in 2023.
The China Photovoltaic Industry Association has recently adjusted its predictions for the global and national PV installations in 2023. The global newly installed PV capacity is expected to be between 305-350 GW, up from the previously predicted 280-330 GW. The newly installed PV capacity in China is predicted to be between 120-140 GW, a significant increase from the previous prediction of 95-120 GW. This indicates a year-on-year growth exceeding 60%.
Overall, the Chinese PV industry is demonstrating robust growth and a significant shift towards the production of N-type products. These trends reflect the industry’s strong performance in both domestic and international markets and are testament to China’s integral role in the global renewable energy sector. The outlook for the second half of 2023 remains promising, given the upward revision of installation forecasts by the China Photovoltaic Industry Association.