PV Module Output Jumped 8.58% in Jan Thanks to End Consumption Recovery and Restocking Activities

SHANGHAI, Feb 21 (SMM) - According to SMM statistics, the domestic photovoltaic module output in January was about 29.1 GW, an increase of 8.58% from 26.8 GW in December. 

SMM found that there are three reasons for the significant output growth in January. First, bid solicitation for some end-user projects was initiated in January, lifting module demand to a certain extent. 

Second, the purchasing demand among module producers in the wake of the Chinese New Year holiday to replenish their low inventories also buttressed the output in January. Third, the rebound in upstream products prices in early January bolstered market confidence. This, combined with the stocking efforts of some traders on insufficient inventory, incentivised photovoltaic module plants to beef up production, thus growing the output.

As for the following production schedules, the module enterprises are expected to produce 31.4 GW modules in February amid thriving end consumption. In addition, multiple terminal projects will be open for bid in March, while some overseas orders of top-tier enterprises will be delivered in March and April. In this case, the operating rates of module enterprises are anticipated to rise further.