According to the latest data from third-party consulting firm InfoLink Consulting, China’s photovoltaic (PV) module exports are projected to reach 235.93 gigawatts (GW) in 2024, marking a 13% increase from 207.99 GW in 2023. Additionally, China's PV product exports have exceeded 200 billion yuan for four consecutive years.
Source: China Energy Network
According to the latest data from third-party consulting firm InfoLink Consulting, China’s photovoltaic (PV) module exports are projected to reach 235.93 gigawatts (GW) in 2024, marking a 13% increase from 207.99 GW in 2023. Additionally, China's PV product exports have exceeded 200 billion yuan for four consecutive years.
Data from the General Administration of Customs reveals that in December 2024, China exported 48.75 million PV modules. For the full year, from January to December 2024, total exports reached 820 million units, reflecting an approximately 80% year-on-year increase. Regionally, Europe has long been the dominant market for China’s PV modules. In 2024, exports to Europe totaled 94.4 GW, accounting for 40% of the total export volume. While traditional export markets remain strong, China’s PV module export base is expanding, with new emerging markets becoming increasingly important, showing a clear trend toward diversification.
Wang Bohua, Honorary Chairman of the China Photovoltaic Industry Association, praised the role of emerging markets in this growth. He noted, “From January to October 2024, India, Turkey, and Cambodia were the top three destinations for China’s PV cell exports. While Europe remains China’s largest PV module export market, its share has decreased. Besides Europe, South Asia, Latin America, and the Middle East now account for a larger share. The trend of diversifying China’s PV module export markets is becoming more pronounced, with markets outside the top ten now representing over a third of total exports. Emerging markets are continuing to grow.”
It’s also worth noting that the clean energy sector in the Global South is expanding rapidly, with more countries in these regions increasing their support for the PV industry. China’s flourishing PV module exports have contributed to the broad deployment of solar projects globally. In 2024, nearly 47% of China’s PV module exports went to countries in the Global South, a historic high. This marks the first time that exports to these countries have matched the scale of imports from developed nations.