Chinese solar PV products output grew by 20% YoY, and solar cell exports increased by over 40%
Key Takeaways
- MIIT says China produced 20% more polysilicon, wafers, cells and modules in 10M 2024
- This includes 510 GW of solar cells of which only 45.9 GW was shipped overseas
- A large chunk of the silicon wafer output of 608 GW was also consumed domestically
As the demand for solar PV grows globally, China – the world’s largest solar PV factory – continues to remain busy rolling out products across the supply chain to meet this demand. According to the country’s Ministry of Industry and Information Technology (MIIT), the country saw its year-on-year (YoY) solar cell exports increase by over 40% from January to October 2024.
Amidst industry reports of a slowdown in capacity utilization to deal with overcapacity concerns, Chinese output of polysilicon, wafers, cells and modules went up by more than 20% YoY during the reporting period.
MIIT counts China to have produced about 1.58 million tons of polysilicon during 10M 2024, representing a 39% annual increase. Silicon wafer output totaled close to 608 GW, out of which 53.2 GW was exported.
For solar cells, Chinese factories produced about 510 GW capacity out of which most was consumed domestically and only 45.9 GW was shipped overseas. In another update from China’s National Bureau of Statistics, the country’s large-scale industrial solar cell production totaled 68.14 GW in November 2024 alone, representing a 10.9% YoY increase. On a cumulative basis, the 11M 2024 solar cell production rose by 14.8% YoY to 618.55 GW.
China’s combined crystalline silicon solar module production output within the 10 months of this year rounded up to 453 GW. It exported about 205.9 GW volume. The country’s solar PV installations during the same period added up to 181.30 GW (see China’s January-October 2024 Solar PV Installations Exceed 180 GW).
With another 2 months to go, these figures can be expected to go up further. Meanwhile, this 10M 2024 output volume is close to the country’s last entire year’s production. In 2023, China produced 622 GW of silicon wafers, 545 GW of solar cells, and 499 GW of solar modules (see China’s Solar PV Output In 2023 Exceeded RMB 1.7 Trillion).
Source from Taiyang News
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