“去银化”正成为光伏电池片重要发展方向，铜电镀技术倍受行业青睐

Investment Rating - The report indicates a positive investment outlook for the photovoltaic industry, highlighting its rapid growth and technological advancements [3][4]. Core Insights - The photovoltaic industry is experiencing significant growth driven by global energy policies, decreasing costs, and expanding application scenarios, with China leading in both manufacturing and installed capacity [3][4]. - The trend of "de-silvering" is becoming a crucial development direction in photovoltaic cell technology, with copper plating technology gaining popularity as a cost-effective alternative to silver [6][8]. Summary by Sections Section 1: Global and Domestic Installed Capacity - In 2023, China's newly installed photovoltaic capacity reached 216.88 GW, with a cumulative capacity exceeding 600 GW, making it the global leader in both new and cumulative installations [4]. - The forecast for 2024 anticipates new installations to exceed 200 GW, with cumulative capacity potentially surpassing 810 GW, supported by rapid advancements in large-scale wind and solar projects [4]. Section 2: Photovoltaic Cell Production Growth - The production of photovoltaic cells in China is projected to grow explosively, with an estimated output of approximately 545 GW in 2023, reflecting a year-on-year increase of 64.9% [5]. - The expected production for 2024 is anticipated to exceed 820 GW, indicating a sustained upward trend in the market [5]. Section 3: Technological Developments in Photovoltaic Cells - The rising cost of silver has intensified the demand for "de-silvering" technologies, with copper plating emerging as a favored solution to replace silver in photovoltaic cells [6]. - Currently, low-temperature silver paste electrodes dominate the market, accounting for 69.6% in 2023, but there is a strong push towards developing copper-based alternatives [6][8].