The company's delivery volume for silicon wafers in the first half of this year was 44.44 GW (21.96 GW sold externally) and 31.34 GW for modules. 2.66 GW of solar cells were delivered.
In the first half of 2024, the global PV market again saw strong growth. According to the National Energy Administration (NEA), there were new PV installations in China in the first half of the year with a total capacity of 102.48 GW, an increase of 30.68% over the previous year. Solar power plants account for 67% of all newly constructed power plants in China in the same period.
China's module exports increased by nearly 20% year-on-year in the first half of the year, with Europe remaining the largest export market for Chinese modules. Pakistan, India and Saudi Arabia are now the second, fourth and fifth largest export markets for Chinese solar modules. During the ongoing market changes in the PV industry, LONGi has seen a significant increase in sales of over 140% year-on-year in the Asia-Pacific region in the first half of the year.
New HBPC 2.0 back-contact product line in high demand
Recently, the China Huaneng Group, one of the five largest state-owned power generators in China, announced the details for the procurement of photovoltaic modules for 2024. 1 GW of this is to be back-contact modules. According to LONGi, this shows the importance of the technology for the country. This is the first time that a state-owned energy company has set up its own procurement office for BC (back contact) modules. It is also a signal for a new development opportunity for BC technology in large-scale power plants, which is eagerly awaited by the industry.
See also: LONGi presents enhanced back contact PV modules
In the first half of the year, LONGi launched the Hi-MO 9 bifacial module, which is based on the highly efficient HPBC 2.0 back-contact cell technology (Hybrid Passivated Back Contact Cell Technology). With a mass-produced output of 660 W, it outperforms the industry-leading TOPCon modules by more than 30 W, according to LONGi. The series has a module efficiency of 24.43%, which is a significant improvement over the BC predecessor technology. The module can capture and convert more light under the same conditions, resulting in higher power generation, says LONGi.
New cell technology also for rooftop installations
Compared to conventional products, the Hi-MO 9 offers 80% greater resistance to cracking, according to LONGi. The module would be representative of a significant technological leap forward, as it incorporates LONGi's new high-efficiency TaiRay silicon wafers.
Mr. Baoshen Zhong, Chairman of LONGi, stated that the company plans to launch the new HPBC 2.0 cell technology for residential, commercial and industrial rooftop installations.
See also our interview with LONGi: “The PV industry is navigating a complex competitive landscape”
According to the company, LONGi's annual production capacity for monocrystalline silicon wafers will reach 200 GW over the next three years, with more than 80% of the capacity accounted for by “TaiRay” silicon wafers. The annual production capacity of cells with back-contact technology (BC Technology) is expected to reach 100 GW, with a production capacity of monocrystalline modules of 150 GW.
In particular, the next-generation HPBC 2.0 back-contact technology and its product series are expected to reach a capacity of approximately 50 GW by 2025. On this basis, LONGi expects significant growth and a rapid recovery from the volatile situation in the global PV market, where a fierce price war is still ongoing.
“Return to growth by 2025”
In the first half of the year, LONGi modules were awarded the RETC ‘Highest Achievement’ prize for the sixth year in a row. In addition, LONGi modules received the ‘Best Performance’ award in the PVEL reliability tests for the seventh year in a row.
LONGi has also maintained AAA status in the PV ModuleTech Bankability Rating for the 18th consecutive year, further strengthening its position in the global photovoltaic financing market.
Also interesting: “A company cannot be on hold for a year”
Mr. Baoshen Zhong, stated, “LONGi had a clear direction and corporate strategy at the beginning of 2023. By 2025, our company will be the first to return to a growth path and enter a recovery period ahead of the PV industry.
PV manufacturing capacity utilization below 50 %
As pv Europe has learned from well-informed circles, the PV manufacturing capacity utilization rate is currently below 50 percent across the solar industry on average and is getting lower and lower for solar module and wafer manufacturers. This is due to the sharp drop in prices and weak demand. As a result, it is no longer worthwhile for some companies to keep producing. Large manufacturers such as LONGi are also affected. (hcn)
