[China Photovoltaic Industry Association: The scale of losses caused by this industry fluctuation far exceeds the previous three industry fluctuations]
SMM, November 19 - Wang Bohua, Honorary Chairman of the China Photovoltaic Industry Association, stated that in the first three quarters of 2024, China's PV product (silicon wafers, solar cells, modules) exports totaled $25.93 billion, a YoY decrease of approximately 35.1%, continuing the trend of "increasing volume and decreasing prices." The scope of losses in the PV industry has continued to expand, with the scale of losses caused by this industry fluctuation far exceeding the previous three industry fluctuations. Particularly, prices in various segments of the PV industry this year have dropped by more than 60% compared to the peak in 2023. However, he remains optimistic about the future, with his optimism based on installed capacity. He believes that by 2029, PV power generation will surpass hydropower. Additionally, the continuous decline in PV industry costs remains a booster for global installations.
