Exploring the Path to Breakthrough in the PV Industry—Dr. Yang Liyou of Jinergy Attends SNEC Global Green Energy Leadership Dialogue
On June 10th, the SNEC PV+ 18th (2025) International Solar Photovoltaic and Smart Energy Conference officially opened in Shanghai. The Conference was jointly hosted by the Global Green Energy Council (GGEIC), the Global Solar Council (GSC), and the Asian Photovoltaic Industry Association (APVIA). Dr. Yang Liyou, General Manager of Jinneng Clean Energy Technology Ltd. (hereinafter referred to as “Jinergy”), was invited to attend the SNEC Forward-looking Forum—the “18th Global Green Energy Leadership Dialogue”. Together with industry leaders and authoritative academic experts, he engaged in in-depth discussions on the future development of green energy under the dual-carbon goals, as well as the opportunities and challenges facing the photovoltaic industry. Dr. Yang delivered a keynote speech entitled “The Photovoltaic Industry: Once Again Lost and Break Through,” in which he thoroughly analyzed the industry’s predicament and explored critical pathways, injecting ideas and direction for the photovoltaic industry to overcome its current impasse.
PV Industry: Short-Term Breakthrough and the Path to Competition
In his speech, Yang Liyou pointed out that the photovoltaic industry is currently facing unprecedented challenges: soaring trade barriers, frequent patent disputes, coupled with weak market demand, limited grid absorption capacity, and slowing growth in electricity consumption due to the economic downturn. Under these multiple pressures, supply-demand imbalances have intensified, with enterprises generally in a state of financial distress—the capacity-to-demand ratio has exceeded 2:1, and price inversions across the entire industrial chain have become the norm. Nevertheless, the industry’s prospects remain promising. The advancement of “dual-carbon” goals, the construction of new-type power systems, and the continued expansion of the global market provide powerful momentum for the long-term development of the photovoltaic industry. In terms of technological innovation, high-efficiency technology routes such as TOPCon, HJT and BC are competing for development. Perovskite tandem technology is accelerating its commercialization. At the same time, AI technology applications will gradually permeate multiple dimensions to bring positive transformation to the industry. The emergence of new quality productive forces is driving the rapid industrialization of cutting-edge technologies.
Faced with a situation where short-term difficulties and long-term benefits coexist, the photovoltaic industry needs to make concerted efforts at both macro and micro levels to achieve breakthroughs. At the macro level, ineffective capacity should be eliminated faster to create a healthy competition environment. Quality supervision should be strengthened to ensure a smooth market transition. At the policy level, precise measures are needed to avoid cliff-like contraction of the industry. Industry self-discipline should be promoted to reasonably control the pace of capacity expansion. High-quality enterprise should be given corresponding support, encouraged to pursue mergers and reorganizations, and increase R&D investment to facilitate their transformation and upgrading.
At the micro-enterprise level, photovoltaic companies need to actively seek change and take the initiative. On the one hand, they must deepen technology R&D, improve efficiency and reduce costs through technological innovation and focus on differentiated products to avoid falling into the predicament of “technological backwardness”. On the other hand, they should uphold quality bottom lines and win market recognition with high-quality products; promote lean production and optimize management processes to tap efficiency potential; build a customer-value-centered service system, enhance product reliability and service response speed through standardized processes and refined operations and provide one-stop solutions. Furthermore, companies need to shift from “going it alone” to “ecosystem collaboration”, integrating the upstream and downstream sources of the industrial chain, jointly building industrial alliance with suppliers, customers and research institutes to form synergistic forces. Only by continuously upgrading their “battle” strategies and operational models can enterprises win the market and the competition.
Jinergy: A Practice of Steady Progress
Facing the double challenges of deep industrial adjustments and technology iteration, Jinergy adheres to the general working principle of “seeking progress while maintaining stability, improving quality while maintaining stability, moving forward to a better future while maintaining stability”. Leveraging its endowments, market advantages, and technological strength, the company pursues maximizing operational efficiency through full-capacity production and sales. With strong support from its parent company, Jinneng Holding Group, Jinergy emphasizes quality and excels in management, achieving steady and positive business performance.
In terms of technology, product iteration and efficiency improvements proceed in parallel. TOPCon cell efficiency continues to achieve breakthroughs. Through core technological advances such as optimizing surface passivation via two-step texturing process, improving conversion efficiency via boron diffusion with high-resistance shallow junctions, and improving film uniformity via Poly variable-temperature deposition, mass-produced cell efficiency has reached 27%, with yield rate exceeding 98.5% and bifaciality stably above 90%. Production line capability covers 183R micro-rectangular, 210R rectangular, and 210 large formats. Notably, HJT, XBC and tandem cells are under synchronous R&D, with robust technology reserves. Among these, HJT cell technology has achieved mass-produced efficiency breakthroughs and cost reductions through material system optimization and structural process innovation while also being adaptable to tandem technology upgrades. Significant progress has been made in microcrystalline silicon, silver-coated copper paste, 0BB, thin silicon wafers and backside polishing technologies. The National Energy HJT Photovoltaic Technology Key Laboratory (under construction) has established a full-process R&D system covering new material development, film formation process development, device fabrication, simulation modeling, and analysis and testing, equipped with internationally advanced synchrotron radiation in-situ characterization platforms. Currently, the HJT + perovskite tandem cell R&D platform construction is progressing smoothly, with key industrialization equipment gradually being put in place, forming a complete technical chain from fundamental research to engineering transformation.
Based on N-type cell technology advantages, Jinergy has laid out and reserved TOPCon 5.0 high-efficiency cell technology. On the module packaging side, the company has reserved high-density packaging solutions including 0BB low-temperature soldering, negative spacing, and “full-screen” technologies. On the materials side, a combined solution of double-layer coated glass and gap reflective film, paired with a novel reflective busbar design, can comprehensively enhance module power generation efficiency. In addition, Jinergy has constructed a full-scenario application system tailored to the diverse needs across large-scale ground-mounted power stations, industrial and commercial rooftops, and residential PV systems, delivering efficient and reliable module products for various scenarios. With profound technological accumulation and R&D strength, the company solidifies product competitiveness and contributes to the development of the photovoltaic industry.
Roundtable Discussion: Exploring Industry Trends and Planning for Long-Term Development
The dialogue session, themed “China’s Green Low-Carbon Energy Development Exploration and International Cooperation,” was moderated by Li Junfeng, Executive Director of the China Energy Research Society. Representatives of industry associations and leading enterprises discussed industry dynamics, specifically how photovoltaic companies should confront the contradiction between continuous capacity expansion and slowing growth in market demand.
Li Junfeng shared his perspectives on the photovoltaic industry’s development, noting that industry events should provide accurate information to the market. He emphasized the need to boost confidence when the industry is in a slump and to remain vigilant and reflective during periods of optimism. He pointed out that achieving double-digit growth in the current economic environment is remarkable for the photovoltaic industry. As of the end of May 2025, reaching over 100 GW of installed capacity represents a historic breakthrough. In 2024, when national power generation growth was less than 5%, the PV sector contributed 260 billion kilowatt-hours, accounting for over 60% of new electricity generation—equivalent to the UK’s annual electricity consumption—demonstrating significant development momentum. However, the industry faces severe mismatches between output and capacity, alongside excessive expansion.
Regarding how Jinergy is addressing this predicament, Dr. Yang candidly stated that although the company’s 2024 shipments decreased year-on-year compared to 2023, it proactively reduced shipments to avoid “bleeding” competition, while building momentum for future development by exploring effective markets and controlling costs. In 2025, balancing supply and demand through market expansion and cost optimization, Jinergy returned to full production at effective capacity. However, given the high degree of marketization in the photovoltaic industry, it remains necessary to accelerate the elimination of inefficient capacity, enforce quality oversight to improve product quality, and allow some low-efficiency capability to exist in the market during the crisis—only then can the pressure of “internal competition” be alleviated. If the industry proactively controls its pace and optimizes its supply structure, it can achieve a smooth transition through a healthy development model.
As the photovoltaic industry enters a new phase of intelligent and global development, under the epochal propositions of “dual-carbon” goals and high-quality development, every technological breakthrough and every step of industrial upgrading embodies the wisdom and dedication of every individual in the sector, as well as their commitment and responsibility. As a company deeply rooted in the PV field for more than a decade, Jinergy is consolidating its technical foundation with a strategic focus on steady progress, and expanding its market and industrial footprint with an open and collaborative idea of development, injecting strong momentum into propelling China’s PV industry toward a new journey of high-quality development.
