Research Report on China's Photovoltaic Industry, 2018-2022
DESCRIPTION
In 2017, the newly installed capacity of the global PV market reached 102 GW, with an increase of over 37% over the same period of last year, and the cumulative PV capacity reached 405 GW. China's newly installed capacity was 53 GW, increasing by over 53.6% YOY, ranking first in the world for five consecutive years. The cumulative installed capacity of China reached 130 GW, securing the first in the world for three years in a row. In 2017, China exported approximately 37.9 GW of photovoltaic modules, with an increase of 77.9% YOY. Its PV products are increasing in exports to emerging markets such as India and Brazil.
In recent years, the growth engine of the Chinese PV market has gradually shifted from exports to both domestic and export markets. In 2017, the market scale of photovoltaic power generation enlarged rapidly. The newly installed capacity registered 53.06 million kilowatts, which covered 33.62 million kilowatts of photovoltaic power stations, with an increase of 11% YOY, and 19.44 million kilowatts of distributed photovoltaics, increasing by 3.7 times YOY. This has become the highlight of the development of the photovoltaic market last year.
According to CRI's analysis, the rapid growth of China's photovoltaic power generation in 2017 directly drove the development of each sector along the photovoltaic industry chain. In the same year, the polysilicon production was 242,000 tons, with an increase of 24.7% YOY; the wafer production was 87 GW, with an increment of 39% YOY; the battery output reached 68 GW, growing by 33.3% YOY; the solar modules were produced of 76 GW, up by 43.3% YOY; the output of inverters was 62 GW, with an increase of 55% over the same period of last year. China's production scale of different joints along the PV industry chain all exceeded 50% in the world, maintaining the first place. The great development of the photovoltaic industry has also promoted the technological advancement, which has reduced the production costs and electricity costs.
With the advancement of technology and scale economies, the production cost of Chinese leading polysilicon companies in 2017 fell to CNY 60,000/ton, the production cost of modules dropped to CNY 2 per watt or less, the investment cost of photovoltaic power generation systems dropped to CNY 5/watt and the cost of power generation decreased to CNY 0.5-0.7 per kWh.
Benefited from the expansion of the market size, the increment of company's shipment volume and the reduction in the production costs, in 2017, Chinese PV companies made remarkable progresses in profitability.
The development of the photovoltaic industry is affected by multiple factors such as Chinese government policies, international and domestic market demands and international trade barriers. In recent years, the Chinese government has given incentives to the PV power plants including financial subsidies and preferential on-grid tariffs. Because of these policies, photovoltaic power plants attracted large amounts of capital and were built in a great quantity. In the light of the overheat in the photovoltaic industry, the government has also issued some measures to control excess production capacity, mainly reducing financial subsidies.
It is expected that during 2018 to 2022, the demand in PV market and PV export volume will both continue to increase. For investors, there are still many opportunities in China's photovoltaic industry chain.
SELLING POINTS:
In 2017, the newly installed capacity of the global PV market reached 102 GW, with an increase of over 37% over the same period of last year, and the cumulative PV capacity reached 405 GW. China's newly installed capacity was 53 GW, increasing by over 53.6% YOY, ranking first in the world for five consecutive years. The cumulative installed capacity of China reached 130 GW, securing the first in the world for three years in a row. In 2017, China exported approximately 37.9 GW of photovoltaic modules, with an increase of 77.9% YOY. Its PV products are increasing in exports to emerging markets such as India and Brazil.
In recent years, the growth engine of the Chinese PV market has gradually shifted from exports to both domestic and export markets. In 2017, the market scale of photovoltaic power generation enlarged rapidly. The newly installed capacity registered 53.06 million kilowatts, which covered 33.62 million kilowatts of photovoltaic power stations, with an increase of 11% YOY, and 19.44 million kilowatts of distributed photovoltaics, increasing by 3.7 times YOY. This has become the highlight of the development of the photovoltaic market last year.
According to CRI's analysis, the rapid growth of China's photovoltaic power generation in 2017 directly drove the development of each sector along the photovoltaic industry chain. In the same year, the polysilicon production was 242,000 tons, with an increase of 24.7% YOY; the wafer production was 87 GW, with an increment of 39% YOY; the battery output reached 68 GW, growing by 33.3% YOY; the solar modules were produced of 76 GW, up by 43.3% YOY; the output of inverters was 62 GW, with an increase of 55% over the same period of last year. China's production scale of different joints along the PV industry chain all exceeded 50% in the world, maintaining the first place. The great development of the photovoltaic industry has also promoted the technological advancement, which has reduced the production costs and electricity costs.
With the advancement of technology and scale economies, the production cost of Chinese leading polysilicon companies in 2017 fell to CNY 60,000/ton, the production cost of modules dropped to CNY 2 per watt or less, the investment cost of photovoltaic power generation systems dropped to CNY 5/watt and the cost of power generation decreased to CNY 0.5-0.7 per kWh.
Benefited from the expansion of the market size, the increment of company's shipment volume and the reduction in the production costs, in 2017, Chinese PV companies made remarkable progresses in profitability.
The development of the photovoltaic industry is affected by multiple factors such as Chinese government policies, international and domestic market demands and international trade barriers. In recent years, the Chinese government has given incentives to the PV power plants including financial subsidies and preferential on-grid tariffs. Because of these policies, photovoltaic power plants attracted large amounts of capital and were built in a great quantity. In the light of the overheat in the photovoltaic industry, the government has also issued some measures to control excess production capacity, mainly reducing financial subsidies.
It is expected that during 2018 to 2022, the demand in PV market and PV export volume will both continue to increase. For investors, there are still many opportunities in China's photovoltaic industry chain.
SELLING POINTS:
- Development environment of China's photovoltaic industry
- Supportive and restrictive policies of the Chinese government on the photovoltaic industry
- Analysis on China's photovoltaic industry chain
- Supply and demand analysis on China's photovoltaic industry
- Export analysis of China's photovoltaic industry
- Chinese photovoltaic manufacturers
- Chinese photovoltaic market competition
- Driving forces and opportunities of the photovoltaic industry from 2018 to 2022
- Threats and Challenges of the photovoltaic industry
- Prospects of China’s photovoltaic industry from 2018 to 2022
1 OVERVIEW OF PHOTOVOLTAIC INDUSTRY
1.1 Definition and Classification
1.1.1 Definition
1.1.2 Classification
1.2 Overview of Global Photovoltaic Industry
1.3 Characteristics of China's Photovoltaic Industry
2 DEVELOPMENT ENVIRONMENT OF PHOTOVOLTAIC INDUSTRY IN CHINA, 2013-2017
2.1 Economic Environment
2.1.1 Global Economy
2.1.2 China's Economy
2.2 Policy Environment
2.2.1 Policy Overview
2.2.2 Policy Trend
3 STATUS QUO OF CHINA'S PHOTOVOLTAIC INDUSTRY, 2013-2017
3.1 Supply
3.1.1 Production Capacity
3.1.2 Output Volume
3.2 Demand
3.2.1 International Market
3.2.2 Chinese Market
4 PHOTOVOLTAIC INDUSTRY CHAIN OF CHINA, 2013-2017
4.1 Structure of Photovoltaic Industry Chain
4.1.1 Overview
4.1.2 Polysilicon
4.1.3 Modules and Battery Pieces
4.1.4 Inverters
4.1.5 Photovoltaic Power Station and Distributed Photovoltaics
4.2 Cost Analysis of Photovoltaic Industry Chain
4.2.1 Costs of Raw Materials
4.2.2 Costs of Power Generation
5 KEY AREAS OF PHOTOVOLTAIC INDUSTRY IN CHINA, 2013-2017
5.1 Analysis by Regions of Photovoltaic Power Stations
5.1.1 Overview
5.1.2 Gansu
5.1.3 Qinghai
5.1.4 Xinjiang
5.1.5 Ningxia
5.1.6 Inner Mongolia
5.1.7 Jiangsu
5.2 Analysis of Distributed Photovoltaics by Region
5.2.1 Zhejiang
5.2.2 Hunan
5.2.3 Guangdong
5.2.4 Jiangsu
5.2.5 Shandong
5.3 Development Plans of Local Governments on Photovoltaic Industry
6 ANALYSIS OF CHINA’S IMPORT AND EXPORT OF PHOTOVOLTAICS, 2013-2017
6.1 Export
6.1.1 Export Overview
6.1.2 Export Destinations
6.2 Import
6.2.1 Import Overview
6.2.2 Import Sources
7 CHINESE PHOTOVOLTAIC MANUFACTURERS, 2015-2018
7.1 GCL-Poly Energy Holdings Limited
7.1.1 Enterprise Profile
7.1.2 Operation Status
7.2 Jinko Solar Co., Ltd.
7.2.1 Enterprise Profile
7.2.2 Operation Status
7.3 Trina Solar Co., Ltd.
7.4 Canadian Solar Inverstment Inc.
7.5 JA Solar Co., Ltd.
7.6 LONGi Green Energy Technology Co., Ltd.
7.7 Jiangsu Akcome Industrial Group Co., Ltd.
7.8 Risen Energy Co., Ltd.
7.9 Suzhou Talesun Solar Technologies Co., Ltd.
7.10 Tongwei Solar (Hefei) Co., Ltd.
7.11 Astronergy Development Co., Ltd.
7.12 Tianjin Zhonghuan Semiconductor Co., Ltd.
7.13 The IT Electronics Eleventh Design & Research Institute Scientific and Technological Engineering Corporation Limited
7.14 CETC Electronics Equipment Group Co., Ltd.
7.15 Linuo Power Group Co., Ltd.
7.16 Sungrow Power Supply Co., Ltd.
7.17 Tunghsu Azure New Energy Co., Ltd.
7.18 Cecep Solar Energy Co., Ltd.
7.19 Qingdao New Energy Solutions Inc. (NESI)
7.20 Jiangxi Zhanyu New Energy Co., Ltd.
8 PROSPECTS OF CHINA'S PHOTOVOLTAIC INDUSTRY, 2018-2022
8.1 Influencing Factors
8.1.1 Driving Forces and Opportunities
8.1.2 Threats and Challenges
8.2 Forecast on Supply of China's Photovoltaic Industry, 2018-2022
8.2.1 Forecast on Production Capacity, 2018-2022
8.2.2 Forecast on Production Volume, 2018-2022
8.3 Forecast on Demand of China's Photovoltaic Industry, 2018-2022
8.3.1 Forecast on Global Photovoltaic Market
8.3.2 Forecast on Demand in Chinese Market
8.4 Investment and Development Suggestions, 2018-2022
PART OF CHARTS
Chart Supportive Polices of Chinese Government on Photovoltaic Industry
Chart Restrictive Policies of Chinese Government on Photovoltaic Industry
Chart China's Production Volume of Photovoltaic Modules, 2012-2017
Chart China's Production Volume of Photovoltaic-Related Products, 2012-2017
Chart Global Newly-Installed Solar Capacity, 2012-2017
Chart China's Newly-Installed Solar Capacity, 2012-2017
Chart Price Trend of Polysilicon in China, 2015-2018
Chart China's Export Volume of Photovoltaic Products, 2013-2017
Chart China's Export Value of Photovoltaic Products, 2013-2017
Chart Export Destinations of China's Photovoltaic Products, 2017
Chart China's Import Volume of Polysilicon, 2013-2017
Chart China's Import Sources of Polysilicon in 2017
Chart GCL-Poly Profile
Chart Operation Status of GCL-Poly, 2015-2017
Chart Major Fiscal Indicators of GCL-Poly, 2015-2017
Chart Company Profile of Jinko Solar
Chart Operation Status of Jinko Solar
Chart Major Fiscal Indicators of Jinko Solar
Chart Forecast on Photovoltaic Production Volume, 2018-2022
Chart Forecast on Installation of Global Photovoltaic Modules
Chart Forecast on Installation of Photovoltaic Modules in China
1.1 Definition and Classification
1.1.1 Definition
1.1.2 Classification
1.2 Overview of Global Photovoltaic Industry
1.3 Characteristics of China's Photovoltaic Industry
2 DEVELOPMENT ENVIRONMENT OF PHOTOVOLTAIC INDUSTRY IN CHINA, 2013-2017
2.1 Economic Environment
2.1.1 Global Economy
2.1.2 China's Economy
2.2 Policy Environment
2.2.1 Policy Overview
2.2.2 Policy Trend
3 STATUS QUO OF CHINA'S PHOTOVOLTAIC INDUSTRY, 2013-2017
3.1 Supply
3.1.1 Production Capacity
3.1.2 Output Volume
3.2 Demand
3.2.1 International Market
3.2.2 Chinese Market
4 PHOTOVOLTAIC INDUSTRY CHAIN OF CHINA, 2013-2017
4.1 Structure of Photovoltaic Industry Chain
4.1.1 Overview
4.1.2 Polysilicon
4.1.3 Modules and Battery Pieces
4.1.4 Inverters
4.1.5 Photovoltaic Power Station and Distributed Photovoltaics
4.2 Cost Analysis of Photovoltaic Industry Chain
4.2.1 Costs of Raw Materials
4.2.2 Costs of Power Generation
5 KEY AREAS OF PHOTOVOLTAIC INDUSTRY IN CHINA, 2013-2017
5.1 Analysis by Regions of Photovoltaic Power Stations
5.1.1 Overview
5.1.2 Gansu
5.1.3 Qinghai
5.1.4 Xinjiang
5.1.5 Ningxia
5.1.6 Inner Mongolia
5.1.7 Jiangsu
5.2 Analysis of Distributed Photovoltaics by Region
5.2.1 Zhejiang
5.2.2 Hunan
5.2.3 Guangdong
5.2.4 Jiangsu
5.2.5 Shandong
5.3 Development Plans of Local Governments on Photovoltaic Industry
6 ANALYSIS OF CHINA’S IMPORT AND EXPORT OF PHOTOVOLTAICS, 2013-2017
6.1 Export
6.1.1 Export Overview
6.1.2 Export Destinations
6.2 Import
6.2.1 Import Overview
6.2.2 Import Sources
7 CHINESE PHOTOVOLTAIC MANUFACTURERS, 2015-2018
7.1 GCL-Poly Energy Holdings Limited
7.1.1 Enterprise Profile
7.1.2 Operation Status
7.2 Jinko Solar Co., Ltd.
7.2.1 Enterprise Profile
7.2.2 Operation Status
7.3 Trina Solar Co., Ltd.
7.4 Canadian Solar Inverstment Inc.
7.5 JA Solar Co., Ltd.
7.6 LONGi Green Energy Technology Co., Ltd.
7.7 Jiangsu Akcome Industrial Group Co., Ltd.
7.8 Risen Energy Co., Ltd.
7.9 Suzhou Talesun Solar Technologies Co., Ltd.
7.10 Tongwei Solar (Hefei) Co., Ltd.
7.11 Astronergy Development Co., Ltd.
7.12 Tianjin Zhonghuan Semiconductor Co., Ltd.
7.13 The IT Electronics Eleventh Design & Research Institute Scientific and Technological Engineering Corporation Limited
7.14 CETC Electronics Equipment Group Co., Ltd.
7.15 Linuo Power Group Co., Ltd.
7.16 Sungrow Power Supply Co., Ltd.
7.17 Tunghsu Azure New Energy Co., Ltd.
7.18 Cecep Solar Energy Co., Ltd.
7.19 Qingdao New Energy Solutions Inc. (NESI)
7.20 Jiangxi Zhanyu New Energy Co., Ltd.
8 PROSPECTS OF CHINA'S PHOTOVOLTAIC INDUSTRY, 2018-2022
8.1 Influencing Factors
8.1.1 Driving Forces and Opportunities
8.1.2 Threats and Challenges
8.2 Forecast on Supply of China's Photovoltaic Industry, 2018-2022
8.2.1 Forecast on Production Capacity, 2018-2022
8.2.2 Forecast on Production Volume, 2018-2022
8.3 Forecast on Demand of China's Photovoltaic Industry, 2018-2022
8.3.1 Forecast on Global Photovoltaic Market
8.3.2 Forecast on Demand in Chinese Market
8.4 Investment and Development Suggestions, 2018-2022
PART OF CHARTS
Chart Supportive Polices of Chinese Government on Photovoltaic Industry
Chart Restrictive Policies of Chinese Government on Photovoltaic Industry
Chart China's Production Volume of Photovoltaic Modules, 2012-2017
Chart China's Production Volume of Photovoltaic-Related Products, 2012-2017
Chart Global Newly-Installed Solar Capacity, 2012-2017
Chart China's Newly-Installed Solar Capacity, 2012-2017
Chart Price Trend of Polysilicon in China, 2015-2018
Chart China's Export Volume of Photovoltaic Products, 2013-2017
Chart China's Export Value of Photovoltaic Products, 2013-2017
Chart Export Destinations of China's Photovoltaic Products, 2017
Chart China's Import Volume of Polysilicon, 2013-2017
Chart China's Import Sources of Polysilicon in 2017
Chart GCL-Poly Profile
Chart Operation Status of GCL-Poly, 2015-2017
Chart Major Fiscal Indicators of GCL-Poly, 2015-2017
Chart Company Profile of Jinko Solar
Chart Operation Status of Jinko Solar
Chart Major Fiscal Indicators of Jinko Solar
Chart Forecast on Photovoltaic Production Volume, 2018-2022
Chart Forecast on Installation of Global Photovoltaic Modules
Chart Forecast on Installation of Photovoltaic Modules in China
