Production 

In its annual event to assess the Chinese solar PV industry, the CPIA said the country’s manufacturing industry was able to increase production for polysilicon, wafer, cell and modules by over 10% YoY in 2024.  

China produced 1.82 million tons of polysilicon in 2024, up 23.6% YoY with a growing preference for granular silicon. 

The country’s wafer output reached 753 GW last year, reflecting an increase of 12.7% YoY. The market share of p-type wafer declined from 74.5% in 2023 to 27.5% in 2024, while that of n-type rose sharply from 24.7% to 72.5%, respectively.  

China’s total solar cell output in 2024 reached 654 GW with a 10.6% YoY improvement. The average conversion efficiency of TOPCon solar cells reached 25.4%, 25.6% for HJT, and 26% for XBC cells. 

Chinese manufacturers produced a combined 588 GW of solar module capacity, increasing their output by 13.5% YoY. 

Exports 

While the production continued to increase, the country’s total PV exports last year totaled $32.02 billion, with an annual decline of 33.9% pointing to the oversupply situation leading to a decline in prices globally. 

China exported 60.9 GW silicon wafers and 57.5 GW solar cells with a YoY decline of 13.3% and 46.3%, respectively. 

Solar module exports of 238.8 GW increased in volume by 12.8% over the previous year. According to the CPIA, the growth of China’s PV module exports to 33 countries exceeded 100% including Pakistan, Saudi Arabia, and Sri Lanka. The number of markets with export volumes of over 1 GW increased from 29 in 2023 to 38 in 2024. The Netherlands, Brazil, Pakistan, Saudi Arabia, and India were the top 5 destinations for Chinese modules in the reporting year. 

InfoLink Consulting pegged the country’s module exports at 236 GW (see 2024 China Solar Module Exports Totaled 236 GW: InfoLink Consulting). 

Some other salient points from the CPIA’s annual event are:  

Companies must spend at least 3% of the total sales and not less than RMB 10 million as annual expenditure on R&D and process improvement.  

In 2024, the number of patent applications filed by Chinese companies increased by about 14% YoY. The cumulative number of applications will account for over 55% of the global total.  

Manufacturers should actively use various means to safeguard their interests in terms of intellectual property protection. 

Enterprises should strengthen the operation and maintenance (O&M) of PV power stations by investing in automation, AI, and other means to improve the revenues. 

CPIA’s Honorary Chairman Wang Bohua commented on Chinese companies expanding their manufacturing footprint geographically, cautioning them to avoid investing blindly, especially in unstable industrial environments. 

“With the increasing international trade barriers and strengthened local manufacturing protections, overseas expansion must be more strategic and flexible, avoiding a blind rush into markets,” explained Bohua. “In conclusion, the success of overseas expansion depends on precise strategies and flexible responses to market changes. By seizing opportunities and avoiding risks, we can ensure competitiveness in the global photovoltaic industry.”