On September 29, the Directorate General of Trade Remedies (DGTR) under India's Ministry of Commerce and Industry issued the final ruling in the anti-dumping investigation concerning solar cells and modules originating from China. It proposed imposing anti-dumping duties for a period of three years on solar cells and modules produced in or imported from China. The final ruling, signed on September 30, 2025, recommended implementation "from the date of notification" and specified three tiers of duty rates: 0%, 23%, and 30%, applicable for three years.

[SMM Analysis] A Summary of Major National and Regional Policies in the Global PV Market in September 2025, Categorized by China, Europe (EU), US, India, and Southeast Asia.

[SMM Analysis] Recently, Zhuhai Hongjun SoleFiori (a subsidiary of China's Hongjun New Energy) announced a partnership with local Saudi counterparts to build a 6 GW HJT PV module factory.

[SMM Analysis] On September 29, the Yunnan Provincial Energy Bureau and the Yunnan Energy Regulatory Office jointly issued the "Implementation Rules for the Development and Construction Management of Distributed PV Power Generation in Yunnan Province (Trial)," which took effect immediately upon issuance and will remain valid for five years. This represents a concrete implementation measure by Yunnan following the national-level "Management Measures for the Development and Construction of Distributed PV Power Generation (2025 Edition)," tailored to local conditions, aiming to promote the healthy and orderly development of distributed PV and support the construction of a new-type power system.

[SMM Analysis] Recently, the Global Solar Council (GSC) stated in a newly released position paper that the world is at a critical crossroads in the energy transition. The rapid development of solar and ESS was expected to accelerate the decarbonisation of energy systems, but in reality, aging grid infrastructure—unchanged for a century—and outdated market rules have become the biggest bottlenecks limiting the further growth of clean energy.

On September 26, the National Energy Administration (NEA) released the statistical data on China's national power industry for the January-August period of 2025.

[SMM Silicon-Based PV Morning Meeting Minutes] Module: Recently, low-price competition among domestic module enterprises has increased WoW, with bidding sentiment gradually intensifying, leading to a decline in mainstream transaction prices. Cost side, solar cell prices remain high and are expected to be raised further, increasing cost pressure on modules and strengthening willingness for production cuts. Module enterprises are expected to continue facing significant two-way pressure. High-purity quartz sand: Current domestic prices are 58,000-64,000 yuan/mt for inner layer sand, 25,000-32,000 yuan/mt for middle layer sand, and 17,000-21,000 yuan/mt for outer layer sand. Recently, the price center for domestic high-purity quartz sand transactions has shifted downward, and with increasing supply and decreasing wafer demand, quartz sand prices are expected to continue falling.

China has established a PV module recycling policy framework comprising 38 national policies and over ten standards, forming preliminary disposal capacity. However, the industry still faces three major bottlenecks: inadequate techno-economic viability, the absence of a nationwide recycling network, and frequent irregularities in recycling practices. Addressing these challenges requires systematic advancement of industrialisation through measures such as refining targeted policies, fostering top-tier enterprises, and innovating smart recycling models.