On February 14th, JA Solar disclosed the latest investor relations activity record, which includes forecasts and analyses of the global and domestic PV markets for 2024. According to JA Solar’s data, domestic PV installations are expected to reach 277GW, while battery module exports are projected to hit 300GW in 2024.
JA Solar forecasts that domestic PV installations will reach 277GW in 2024, indicating strong demand in the domestic PV market. In the future, both centralized and distributed PV installations are expected to maintain steady growth. This growth trend is attributed to the country’s continuous support policies for renewable energy, as well as ongoing advancements in PV technology and decreasing costs.
In overseas markets, battery module exports are expected to reach 300GW throughout 2024. The European market is anticipated to maintain steady growth, while emerging markets will see a substantial increase in demand for PV products due to high energy demand growth. This trend suggests that Chinese PV companies are increasingly competitive in the international market, capable of meeting the global demand for clean energy.
JA Solar also mentioned that supply-side reforms are ongoing. Relevant departments have issued documents guiding PV companies to reduce mere expansion plans and raise the thresholds for new projects. This policy will help eliminate less competitive capacities in the industry, optimize the industrial structure, and enhance the technical level and market competitiveness of the entire industry.
