Against the backdrop of accelerating global energy transition, China’s photovoltaic (PV) industry is undergoing a complex yet profound phase of globalization. Despite facing mounting trade barriers in major markets such as the European Union, the United States, and India, China’s PV sector continues to demonstrate strong resilience and has firmly established itself as a critical pillar of the global photovoltaic value chain.
According to the SHINDEV research team, China’s PV industry has not slowed its pace amid a tightening external environment. On the contrary, it has continued to expand steadily. In the first half of 2024, output across key segments of China’s PV industrial chain recorded robust growth. Based on industry association estimates and regulatory disclosures, production of polysilicon, wafers, solar cells, and modules all increased by over 30% year-on-year, while PV module exports rose by nearly 20%, underscoring China’s continued dominance in global PV supply.
Commenting on the evolving international trade landscape, Duan Zhiqiang, President of SHINDEV Research Institute, noted that it is understandable for developed economies to seek to foster domestic industries amid the global renewable energy boom. However, such efforts often manifest as trade protectionism, which can only intervene in markets through administrative means.
“At its core, the photovoltaic industry ultimately competes on the levelized cost of electricity (LCOE),” Duan emphasized. “Global consumers are fundamentally seeking affordable, high-quality, and reliable energy products. This demand cannot be eliminated by administrative measures—it may be temporarily constrained, but it will not disappear.”
With low-carbon energy now widely embraced worldwide, the pursuit of lower energy costs remains an irreversible long-term trend. In Duan’s view, trade protectionism may affect the pace of China’s PV expansion, but it does not alter the industry’s long-term trajectory.
China’s PV enterprises have long navigated international trade challenges. Since 2010, the industry has actively responded to anti-dumping and countervailing investigations worldwide, gradually accumulating extensive experience in overcoming trade barriers. From early-stage product exports to regionally integrated supply chains centered in Southeast Asia—and now toward globally distributed manufacturing capacity—China’s PV industry is completing a strategic shift from “going global” to “building globally.”
Leading Chinese PV companies have proactively established production bases in the United States, the Middle East, and other regions, forming a highly integrated global industrial network that enhances resilience and supply chain stability.
During periods of industry downturn, Chinese PV companies have focused on strengthening internal capabilities through technological innovation and cost optimization, rather than pursuing blind expansion. While overseas manufacturing entails higher costs and operational complexity, supply chain restructuring and efficiency gains have reinforced the industry’s global competitiveness.
According to the International Energy Agency (IEA), China has become the primary driving force behind the rapid expansion of global renewable energy. Over the past decade, the global average cost of solar power generation has declined by more than 80%, with a substantial portion attributable to China’s contributions in technology advancement, large-scale manufacturing, and supply chain efficiency.
China’s photovoltaic globalization journey is not only a natural evolution of corporate strategy but also a tangible contribution to the global energy transition. Looking ahead, Chinese PV enterprises are set to continue leading the industry through innovation and collaboration, delivering cleaner, more sustainable, and cost-effective energy solutions to consumers worldwide.
