The two-day Bloomberg New Energy Finance (BNEF) Summit Shanghai kicked off on November 27. Yingli Solar, China’s pioneer and leader in N-type technology, was again invited to the event. Li Jintao, Yingli Solar’s Director of Domestic Sales, attended a themed luncheon. He joined Tao Ye, Deputy Director of the Renewable Energy Development Center of the Academy of Macroeconomic Research of China, and Wang Shujuan, founder of PV Perspective and a senior industry thinktank expert, to discuss the global photovoltaic (PV) market in 2024, offering insights and suggestions for the healthy and orderly development of the industry next year. Geng Hao, Yingli Solar’s Director of International Sales, delivered a speech at the event, sharing Yingli Solar’s analysis and judgment of the overseas PV market in 2024.
The BNEF Summit Shanghai, hosted by BNEF, the world’s largest financial news agency, is an event with profound influence in the global financial sector. More than 600 senior industry leaders, investment experts, and politicians congregate at the summit to discuss China’s and even the world’s mid- to long-term energy transition, decarbonization of industry and transportation, and green finance topics. They seek insights into industry trends, forecast opportunities, and provide valuable advice on the global cause of carbon neutrality.
During the themed luncheon, Tao Ye and Wang Shujuan’s brilliant insights and arguments on the global PV market in 2024 elicited strong reactions and lively interactions among the attendees. Tao Ye predicted that 2024 will present an intricate environment for the PV industry. He expected the overall market to exhibit a stable development trend, and the overseas market will outperform the domestic market. Wang Shujuan noted that the decline in module prices in 2023 led to higher-than-expected installed capacity. In the coming year, amid intense competition, prices across the market will drop further but there will be minimal room for additional decline as prices are already nearing costs. In terms of production capacity, after the release of production capacity in the first half of the year and the growth of overseas markets, the overcapacity in the second half of the year is expected to significantly improve.
Facing the situation in 2024, Li Jintao, Yingli Solar’s Director of Domestic Sales, stated that with the industry experiencing generally low prices, price is no longer the primary concern for owners; instead, technology and brand become increasingly important. Therefore, it is essential for PV companies to secure the leading position of their product technology through continuous innovation. At the same time, they should make the right investment decisions at the right time, focusing on their area of expertise and avoiding reckless expansion.
In his speech, Geng Hao said that the top risks and challenges for the overseas market in 2024 will be the uncertainties in international geopolitics and the sharp fluctuations in industrial chain prices. Furthermore, as the manufacturing capacity expands, the competition in the industry will only intensify. In response, Yingli Solar has made all-round preparations. It is leveraging uninterrupted scientific research and innovation to ensure its continued leading edge in technology and products. At the same time, building on the existing brand advantages, it is enhancing the overall brand image, increasing the research and development efforts for new products targeting the overseas market, and innovating in marketing strategies, channel construction, and production base layout. It is adopting the Four New strategy (new image + new products + new model + new base) to fully prepare for the overseas PV market in 2024.
The audience actively participated in the themed luncheon and Yingli Solar’s speech, demonstrating the global industry’s attention to the Yingli Solar brand. In 2023, Yingli Solar made breakthroughs in technology, the market, and branding. It won centralized procurement bids from several central enterprises and state-owned enterprises, such as Power Construction Corporation of China, State Power Investment Corporation, and Yunnan Energy Investment. Its number of winning bids ranked fourth with other companies in the industry in a single month. Yingli Solar launched the Panda 3.0 series of new products for sea, land, and air scenarios. Among them, the Ocean Star series for offshore PV and Panda Ultra-thin Module, the industry’s first ultra-thin module, attracted attention. Moreover, Yingli Solar received numerous global recognitions, including PVEL’s global High Achiever PV company, RETC’s High Achiever, EUPD’s Top Brand PV and Consumers’ Choice, which marked the full recovery of its brand image, industry position, and market confidence in all aspects.
Going forward, Yingli Solar will maintain its 25-year research advantages. Through continuous technological innovation, it will consistently provide efficient and reliable products for the green and low-carbon energy transition and work with global partners to create a green and beautiful new life.