[SMM Silicon-based PV Morning Meeting Summary: Wafer inventory stands at approximately 18GW, with solar cell inventory continuing to increase WoW] Wafer: Domestic wafer production in June is estimated to be around 55.9GW. Currently, the market for 210R-sized wafers is increasing against the trend, while the sales of 183-sized wafers are significantly hindered. Solar Cell: Module manufacturers have adjusted their procurement needs, leading to a decrease in orders. Solar cell inventory continues to increase WoW. Some enterprises have swiftly switched production lines and adjusted their product mix to expedite shipments.

①A recent industry report indicates that due to the US PV industry facing federal policy shifts favoring fossil fuels, tariffs, and other challenges, local new solar installations are expected to decline over the next five years; ②According to forecasts released on Monday by the Solar Energy Industries Association (SEIA) and energy research firm Wood Mackenzie, new solar power generation in 2030 is expected to decline by more than 10% compared to 2025.

From June 2, 2025, to June 8, 2025, SMM recorded a total of 17 domestic enterprise-won PV module projects that week. The winning bid prices for PV modules were concentrated in the range of 0.69-0.75 yuan/W, with a weighted average winning bid price of 0.69 yuan/W for the week, representing an increase of 0.01 yuan/W compared to the previous week. The total procurement capacity of the winning bids was 512.47 MW, a decrease of 225.5 MW compared to the previous week.

[SMM Silicon-based PV Morning Meeting Summary: Polysilicon Prices Experience Some Tug-of-War, Module Scheduled Production Further Reduced] Over the weekend, the price of N-type recharging polysilicon was 35-38 yuan/kg, and the N-type polysilicon price index was 35.2 yuan/kg. Last week, polysilicon prices were largely stable. During the non-peak order signing period, market transactions were relatively limited, with crystal pulling plants and major polysilicon producers engaging in some price negotiations for dense recharging polysilicon around the 34-36 yuan/kg range.

On May 19, Thailand’s BOI introduced four measures to support local firms facing U.S. tariffs.

Saudi Arabia’s Acwa Power signed non-binding agreements with Malaysian entities to explore developing around 13 gigawatts of power generation capacity, with total investments projected at $10 billion by 2040. The cooperation focuses on renewable energy, green hydrogen, and advanced water solutions.

China may reach its carbon emissions peak several years before its 2030 target, according to Zhu Guangyao, former Vice Minister of Finance.

A consortium led by Qatar’s UCC Holding has signed a USD 7-billion agreement with Syria’s Ministry of Energy to support infrastructure reconstruction and energy security.

①The adjustment window for distributed energy has entered a phase, and industry insiders predict that the adjustment will be completed in as quickly as one quarter. The fundamental logic from development to investment decision-making will undergo a complete transformation. ②The market space for the industrial and commercial sectors has further expanded. Domestic module producers have begun to focus on addressing the remaining challenges in developing rooftop resources and have launched targeted products. ③Competition in large-scale projects is fierce, and centralized products will also accelerate their development towards differentiation.