Current Status And Prospects Of Photovoltaic Welding Ribbon Industry

Overview

The photovoltaic industry is a strategic emerging industry that combines new energy power generation and semiconductor technology. It is also a new energy industry that is supported by national industrial and fiscal policies. Photovoltaic power generation has outstanding advantages such as sustainability, cleanliness, and few geographical restrictions.

The photovoltaic industry chain mainly includes five major links: silicon materials, silicon wafers, battery cells, photovoltaic modules, and photovoltaic application systems. The upstream of the industry chain is mainly silicon materials and silicon wafers; the midstream is mainly battery cells and photovoltaic modules; the downstream is the photovoltaic application system. In the entire photovoltaic industry chain, photovoltaic module manufacturing using photovoltaic welding ribbons as raw materials is in the midstream of the industry chain. The upstream of the photovoltaic ribbon industry is mainly raw material suppliers such as copper-tin alloys and fluxes, and the downstream customers are photovoltaic module manufacturers.

Solar photovoltaic fuse

Industry development

Photovoltaic industry development
Based on the forecasts of global photovoltaic new installed capacity by Bloomberg, Changjiang Securities Research Institute, and CITIC Securities Research Department, it is estimated that the global photovoltaic new installed capacity will reach approximately 230GW, 350GW, and 430GW from 2022 to 2024, respectively. The photovoltaic industry has a relatively clear development prospect
According to the 2022 national power industry statistics released by the National Energy Administration, my country's new photovoltaic installed capacity in 2022 is 87.41GW, an increase of 60.30% over 2021, and will further increase on this basis in 2025.

With my country's photovoltaic companies continuously increasing their R&D investment and scientific research institutions steadily carrying out scientific research, new technologies such as MBB modules and large silicon wafers have gradually achieved mass production, effectively improving the photoelectric conversion efficiency of photovoltaic modules. Domestic photovoltaic modules have strong advantages in product performance and pricing competitiveness. The product cost performance is significantly better than overseas photovoltaic module products and has a relatively good reputation in the foreign market.

The demand for my country's photovoltaic modules in the European, American, Japanese, and Korean markets has gradually increased, and the rapid growth of new photovoltaic application markets in Africa, South America, and other countries has led to a simultaneous increase in their demand for modules. According to data from the China Photovoltaic Industry Association, the national photovoltaic module output in 2022 will be 288.7GW, a year-on-year increase of 58.80% from 2021, and the national photovoltaic module output is expected to be 433.1GW in 2023. As the global photovoltaic installed capacity continues to increase, the demand for modules and upstream materials will continue to be strong, and the new production capacity of my country's photovoltaic modules and upstream materials will also increase further.

Development of photovoltaic welding tape industry
As a necessary accessory for conducting electricity in photovoltaic modules, the main demand for photovoltaic welding tape depends on the newly installed capacity and output of photovoltaic modules. According to the forecast of the European Photovoltaic Industry Association, the optimistic data of newly installed photovoltaic capacity in 2026 is 458.8GW, and the conservative data is 243.5GW. By then, the global market demand for photovoltaic welding tape will continue to maintain a good growth trend.

Multi-process Welding Workshop

The industry concentration of photovoltaic welding tape is high, and photovoltaic welding tape manufacturing companies are concentrated in East China. The top few companies in the domestic photovoltaic welding tape industry occupy a large market share, and the industry concentration is high. The demand for photovoltaic welding tape is highly related to the development of the upstream and downstream industries of the company. Since the upstream copper and tin alloy processing companies and the downstream photovoltaic module companies are mainly concentrated in East China, my country's photovoltaic welding tape companies are also concentrated in East China, with a high regionality.

Future development trends

Internationally, according to data from the China Photovoltaic Industry Association, the global new photovoltaic installed capacity will be 230GW in 2022, and the global photovoltaic application market will maintain rapid growth. In addition, the European Photovoltaic Industry Association predicted in the "Global Photovoltaic Market Outlook (2021-2025)" released in July 2021 that with the gradual recovery of the macroeconomy, the continued decline in photovoltaic power generation costs and the strong pull of emerging markets, the global photovoltaic market will continue to maintain rapid growth.

Domestically, in 2020, under the influence of the downward trend of the macroeconomy, the country's new photovoltaic installed capacity still reached 48.2 GW, which exceeded market expectations. In December 2020, he delivered a keynote speech at the Global Climate Ambition Summit, clarifying the development goals "By 2030, China's carbon dioxide emissions per unit of GDP will drop by more than 65% compared with 2005, non-fossil energy will account for about 25% of primary energy consumption, forest stock will increase by 6 billion cubic meters compared with 2005, and the total installed capacity of wind power and solar power generation will reach more than 1.2 billion kilowatts."

According to data from the State-owned Assets Supervision and Administration Commission of the State Council, by the end of 2020, my country's total installed capacity of wind power and photovoltaic power generation will reach 460GW. To achieve the development goal of more than 1,200GW of wind power and photovoltaic power generation installed capacity by 2030, the average annual new installed capacity must be at least more than 74GW. According to data from the China Photovoltaic Industry Association, my country's new photovoltaic installed capacity in 2021 was 54.88GW, a year-on-year increase of 13.90%. During the 14th Five-Year Plan period, my country's annual new photovoltaic installed capacity may exceed 75GW, and the market space is broad.

summary

With the increase in photovoltaic installed capacity, governments in various regions of the country have successively issued policies on mandatory photovoltaic storage. Domestic grid-side energy storage will usher in rapid growth, and energy storage systems will become a new direction for the development of the new energy industry.