第一财经·2025-05-14 01:27Core Viewpoint - The article discusses the impact of US-China tariff policies on the photovoltaic (PV) industry, the future development of the solar market, and the technological advancements in solar cells, highlighting the optimistic outlook for global solar installations by 2025 [1][6]. Group 1: Impact of US-China Tariff Policies - The easing of US-China tariff policies is expected to provide a more stable overseas trade environment for solar and energy storage products [3]. - Companies like JinkoSolar and Trina Solar have sufficient inventory to mitigate the impact of potential tariffs, with ongoing projects in regions like the Middle East enhancing their global supply capabilities [3][4]. - The solar equipment manufacturer, Aotai, is proactively expanding its manufacturing base in Malaysia to address future export requirements amid tariff uncertainties [5]. Group 2: Future Market Trends - JinkoSolar forecasts a 10% year-on-year growth in global solar installation demand by 2025, driven by emerging markets in the Middle East and Asia-Pacific [6]. - The solar industry is expected to transition from losses to breakeven and eventually profitability, as the supply-side reforms take effect and inefficient capacities are eliminated [6][7]. - Despite a current oversupply situation, companies are focusing on balancing shipment volumes with profit margins, prioritizing high-price market orders [7]. Group 3: Technological Developments - The industry is shifting towards TOPCon technology as the mainstream solar cell technology, with companies like JinkoSolar and Trina Solar leading in this area [8]. - The financing environment for solar companies remains stable, with banks willing to support leading firms in the industry, particularly those with strong technological advancements and market shares [9].