On December 17, at the 2025 PV Supply Chain Supporting Development Seminar hosted by the China Photovoltaic Industry Association, Yao Yao, chief analyst of new energy and power equipment at Guojin Securities, analyzed that in terms of “nominal production capacity”, there is still a significant oversupply in major links in the PV industry chain. Looking ahead to 2026, “reverse internal circulation” is expected to accelerate the clearance of backward production capacity in the industry. At the same time, market-based clearance continues, the operating rate of second- and third-tier enterprises may remain low, and final production capacity withdraws/restructuring will accelerate. It is expected that the profits of the photovoltaic industry chain will reverse annual losses in 2026. Yao Yao predicts that in 2026, the price range of silicon materials will be between 55,000 and 75,000 yuan/ton, and that the price range for integrated components will be 0.88-0.99 yuan/W.

On December 17, at the 2025 PV Supply Chain Supporting Development Seminar hosted by the China Photovoltaic Industry Association, Yao Yao, chief analyst of new energy and power equipment at Guojin Securities, analyzed that in terms of “nominal production capacity”, there is still a significant oversupply in major links in the PV industry chain. Looking ahead to 2026, “reverse internal circulation” is expected to accelerate the clearance of backward production capacity in the industry. At the same time, market-based clearance continues, the operating rate of second- and third-tier enterprises may remain low, and final production capacity withdraws/restructuring will accelerate. It is expected that the profits of the photovoltaic industry chain will reverse annual losses in 2026. Yao Yao predicts that in 2026, the price range of silicon materials will be between 55,000 and 75,000 yuan/ton, and that the price range for integrated components will be 0.88-0.99 yuan/W.