2017-02-07 | Editor : christinechen 3271 pageviews

Rising Chinese Demand Leads to Higher Mono-Si Market Share

China National Energy Administration released statistics right after the Lunar New Year: Up until late-2016, the cumulative PV installation reached 77.42GW in China. The newly-added installation reached 34.54GW in 2016, a doubled growth rate compared to 15.13GW in 2015. If deducting the projects that completed installation in 2015 but postponed grid-connection to 2016 (4-7GW), the actual Chinese demand was about 30GW in 2016, higher than the anticipation, and 4.24GW of which were distributed generation (DG), up 200% from 1.39GW in 2015.


Judging from the module supply, the Chinese market saw high supply concentration. According to EnergyTrend’s statistics, the top five suppliers – JA Solar, GCL-Si, Jinko Solar, Lerri Solar, and Trina Solar contributed more than 2GW of supply to China in 2016, in which JA Solar, GCL-Si, and Lerri Solar increased their supplies significantly compared to 2015. The top ten module suppliers represented about 60% of the total market share.

Mono-Si module is getting more popular since last year. Since leading manufacturers kept the price gap between conventional mono and multi-Si modules at US$ 0.01/W, the share of mono-Si modules has surpassed 25% in the Chinese market due to the high C/P ratio. Although Lerri Solar, JA Solar, and Jinko Solar are still the top three mono-Si module suppliers, more and more cell and module suppliers have joined the mono-Si competition last year. This has caused the top three suppliers to witness a mono-Si share of less than 50% in China, showing the thriving development of mono-Si products.

Looking ahead for 2017, due to the serious supply shortage for mono-Si wafers in 1Q, the mono-Si market expansion is limited. The price gap between mono and multi-Si wafers, cells, and modules has increased, leading to mono-Si’s weaker C/P ratio compared to last year. Many manufacturers couldn’t purchase enough mono-Si wafers and had to negotiate to ship out multi-Si products instead. Yet, Longi and Zhonghuan, the top two wafer suppliers, are planning to start their capacity expansions after April, which may alleviate the shortage problem for mono-Si wafers.

Although demand will slightly decline after China’s grid-connected installation reached 30GW in 2016, there will be over 25GW of installation in 2017. Mono-Si products will continue to witness higher shares following the promotion of the “Top Runner Program” and PERC cells. Some manufacturers use diamond wire cut for multi-Si wafers to reduce costs this year, but due to the uncertainty of the etching technology, multi-Si wafers using diamond wire cut won’t be seen until 3Q. Mono-Si’s shares should be able to reach 35% this year in China. Whether it will continue to grow will have to depend on further cost reduction for mono and multi-Si wafers. 

Related Entries
SOLAR MARKET STATUS

Mono-Si and Multi-Si Prices Have Been Locked in a Seesaw Struggle, Entire Price in Supply Chain Drops: Price Trend

Under the influence of the same prices between mono-si and multi-si PV cells, the number of restocking orders in the mono-si supply chain.. more

RESEARCH

Merger of Gintech, NSP and Solartech Will Contribute to Taiwan’s Solar Industry by Speeding Up Vertical Integration and Stimulating Investments

Taiwan’s three solar companies Gintech, Neo Solar Power (NSP) and Solartech signed an MOU on October 16 announcing their .. more

  Heraeus

Solar Report   Battery / EV Reoprt

announcements