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China's PV module exports in May increased by 95% year-on-year to 14.4GW

China's PV module exports in May increased by 95% year-on-year to 14.4GW

Jul 14,2022.

Although the price of photovoltaic supply chain has continued to be strong due to the high price of raw materials since 2022, the global demand for photovoltaic and other renewable energy has continued to rise under the energy supply shortage caused by the wave of energy transformation and international conflicts. According to PV InfoLink's analysis of China's customs export data, China's PV module exports in May reached 14.4GW, a year-on-year increase of 95%; the cumulative module exports from January to May reached 63.4GW, a year-on-year increase of 102%, and demand grew Pretty strong.

From the perspective of geographical divisions, China's module exports from January to May in each of the major regional markets have grown quite strongly, with an increase of more than 40% compared to the same period last year. On the whole, except for the Asia-Pacific market, which has fluctuated greatly after India imposed BCD tariffs in April, the demand for Chinese modules in other regional markets is relatively stable, and the European market is growing month by month.

European market




As of May, seven countries have imported more than 1GW of PV modules from China. Among them, the Netherlands, the largest importer and a major European transshipment port, has even imported 16.5GW of modules, a year-on-year increase of 100%. The Netherlands is expected to this year. There will be a 4GW component requirement. This year, Germany and Spain, which are the top two in terms of module demand in the European market, imported 2.1 and 4.7GW of modules in total, and the year-on-year growth has more than doubled. Germany and Spain are expected to have a module demand of 7.0 GW this year. Other countries with estimated module demand exceeding 1GW, such as Poland, Greece, Portugal and France, have also imported more than 1GW of Chinese modules.

The European market will still be the region with the highest demand for photovoltaic products outside China this year. As the renewable energy policies of European countries become clearer, for example, Germany proposed a new Renewable Energy Act (EEG) bill on 4/8, planning to achieve a cumulative photovoltaic installation of 215GW before 2030, and the annual installation volume before 2025 will gradually increase To 18GW, the annual installed capacity in the next five years will reach 22GW. The policies of the EU and other European countries are also gradually planned. Under the general trend of demand growth, the European market will still be the main export of Chinese modules in the future. With the clear growth path of European market demand, PV InfoLink has raised the module demand in the European market for the whole year of 2022, which is expected to reach more than 55GW. Under optimistic circumstances, it may even exceed the module demand of 65GW.


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