Distributed Photovoltaics to Maintain Momentum in 2023

According to a research report released by Huatai Securities, in the first three quarters of 2022, the new installed capacity of photovoltaics in China amounted to 52.60 GW, among which newly installed capacity of distributed photovoltaics reached 35.33 GW, accounting for 67% of the total with a year-on-year increase of 115%. The share also recorded a significant increase from 35% compared with the same period in 2021.

Huatai Securities believes that the new installed capacity of distributed photovoltaics will maintain momentum in 2023 for the following reasons.

First, the profit margins of distributed photovoltaics have risen along with the falling polysilicon prices, which is conducive to downstream demand. Second, the efforts to push for new installed capacity is strong. Third, local governments still provide subsidies for distributed photovoltaic construction.