Time flies, and in the blink of an eye, half of 2025 has already passed. The photovoltaic industry has gone through two extremes in the past six months. In the first half of the year, the newly installed photovoltaic capacity in China surged by 107% like a rocket, and the cumulative installed capacity also exceeded the 1000GW mark, officially announcing the entry into the Taiwa era. This achievement on the application side is truly impressive.

However, the situation on the manufacturing side is not so optimistic, with a significant decline in production growth and considerable pressure on product exports. So, what opportunities and challenges will the photovoltaic industry face in the second half of the year?

Looking ahead to the second half of the year, the global demand for electricity will continue to grow, and renewable energy will undoubtedly become the main force in meeting these demands. It is expected that the scale of China's photovoltaic market will further expand. Meanwhile, emerging markets are also rising, bringing new hope for photovoltaic exports. In addition, the implementation of policies such as "green power direct connection" and photovoltaic desertification control will also bring new development opportunities to the photovoltaic industry, promoting the acceleration of the transformation and upgrading of photovoltaics towards "diversified integration".

Next, let's delve into the detailed data of the photovoltaic industry in the first half of 2025, as well as analyze the trend of the situation in the second half of the year, to see the current situation and future of the photovoltaic industry.

From a global perspective, electricity demand is expected to grow at an average annual rate of 3.9% between 2025 and 2027. Renewable energy will take on the responsibility of meeting the growing global demand for electricity, and is expected to meet 95% of the growth demand. Among them, solar photovoltaics are expected to account for half of the global electricity demand growth.

Let's take a look at the domestic market again. Previously, the industry's forecast for the size of China's photovoltaic market this year was 215 to 255 GW. Now it seems that this forecast may need to be raised, expected to reach 270 to 300 GW. This is mainly due to the solid promotion of projects such as wind and solar power bases, as well as the stable growth of installed capacity demand in mature provinces with market-oriented transactions, which have laid a solid foundation for the development of the photovoltaic industry.

Of course, overseas markets are also worth paying attention to. Although facing the impact of the localization wave, emerging markets are becoming a new bright spot for exports. Data shows that from January to June this year, 115 countries and regions achieved year-on-year growth in component exports, with 51 countries having export growth rates exceeding 100%, far exceeding last year's 33 countries. Emerging markets such as the Philippines, Algeria, and Colombia have seen rapid year-on-year growth in export volume. However, traditional large markets such as Europe, Brazil, and India have experienced a slowdown in export growth.

This change indicates that the pattern of the global photovoltaic market is quietly changing, and the rise of emerging markets undoubtedly opens up new growth space for Chinese photovoltaic enterprises.