Core Insights - The 2024 China Photovoltaic Power Application National Survey Report highlights significant growth in the photovoltaic (PV) industry, with a notable increase in installed capacity and technological advancements [1][2][3] Installation Data - In 2024, China added 277.57 GW of new PV capacity, a 28% increase year-on-year, bringing the total installed capacity to 886 GW [1][28] - Of the new installations, 159.39 GW came from large ground-mounted solar power plants (57%), while distributed solar accounted for 118.18 GW (43%) [1][28] - Commercial installations saw a 68% increase, while residential installations decreased by 32% [1][28] Technological Innovations - China maintains efficiency records for nine types of solar cells, with Longi Green Energy's perovskite/silicon tandem cell achieving a record efficiency of 34.6% [2][24] - The market share of n-type cells has risen to 72.5%, indicating a shift towards this technology [2] - The average price of PV modules is 0.70 CNY/W, with system prices ranging from 2.5 to 3.4 CNY/W [2][39] Policy Framework - The national government has introduced multiple policies to optimize the PV development environment, including measures to enhance renewable energy consumption and improve distribution network construction [2] - The green power certificate market has seen rapid growth, with 4.734 billion certificates issued in 2024, reflecting a significant increase in trading volume [2] Market Competitiveness - The PV power generation market is becoming increasingly competitive, with active participation from local state-owned energy platform companies [2][48] - Financing channels have diversified, with leasing and industrial investment funds providing substantial support for PV projects [2][44][46] Industry Trends - The "PV + Energy Storage" model is gaining traction, with energy storage capacity increasing by 130% year-on-year [3] - The establishment of a state-owned enterprise focused on resource recycling marks the beginning of a recovery industry for PV components [3] Future Outlook - The Chinese PV industry is expected to focus on technological innovation, system integration optimization, and sustainable development to support global energy transition [3]