2024, the global PV module production capacity will reach 1,450 GW, of which China's PV module production capacity will reach 1,120 GW, accounting for 77%.
Recently, the "2024 Global Photovoltaic Module Capacity TOP10" list produced by the Digital New Energy DataBM. Com was released, with 11 enterprises on the list, all of which are Chinese enterprises, and the module capacity of foreign enterprises such as Firstsolar and Hanwha Q CELLS is less than 15 GW. Without touching the TOP10 threshold, China's photovoltaic enterprises continue to lead the world.
According to the statistics of Digital New Energy DataBM. Com, the total production capacity of TOP10 photovoltaic modules in 2024 reached 817 GW, accounting for 56.34% of the total global production capacity of photovoltaic modules. Among them, Jingke Energy, Longji Green Energy, Trina Solar Energy and Jingao Science and Technology ranked the top four, Jingke Energy ranked the first, with a component capacity of 130GW, four enterprises with a capacity of more than 100GW (including), and Tongwei shares with a capacity of 90GW. Zhengtai Xinneng and Atlas are 70 GW and 61 GW respectively.
Figure 1: Changes
in global PV module production capacity in 2018-2024 Source: Digital New Energy DataBM. Com
The pace of capacity expansion slowed down
significantly in 2024. The module production capacity of TOP10 enterprises increased by about 20000-230000 tons compared with the same period last year, and the total net increase of the three enterprises was only 64.9 GW, which was 61 GW higher than that of Tongwei alone in 2023. It can be seen that the pace of capacity expansion of TOP10 enterprises in photovoltaic modules has been significantly weakened.
Previously, leading enterprises have put forward corresponding capacity development goals, but from the actual situation, enterprises have slowed down the pace, and even some projects have been terminated. Under the background of the continuous downward shift of component price focus and the continuous deterioration of corporate profitability, capacity expansion tends to be rational.
Figure 2: Year-on-year increase and decrease
of photovoltaic module production capacity of TOP10 enterprises in 2024 Data source: Digital New Energy DataBM. Com
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