Overall, in May, the market of photovoltaic module collection appeared again " volume-price deviation ". The release of terminal demand is still insufficient, and the foundation of price recovery is also not solid.
(See the monthly review of the last issue: the calibration of 32GW has reached a new high! Demand for Xu Li volume! According to incomplete statistics from the
Digital New Energy DataBM. Com, the total market calibration of photovoltaic modules in May was about 6.54 GW . Compared with April , it dropped by 79.5% , but compared with May 2025, it increased by 441.
Compared with 16 projects in April, it increased slightly. The project activity seems to be improved, but from the analysis of the project structure, the increased projects are mainly concentrated in the small power station project collection part , and the single scale is generally small.
However, it should be pointed out that the framework purchase order is not the same as the immediate shipment, and the actual delivery scale and rhythm need to pay attention to the release of follow-up orders. After excluding the large-scale framework procurement of Huaneng Group, this month's conventional project collection and scaling volume is only 0.
Huaneng Group's 6GW scale leads, and the "five big and six small" reserve to be determined is considerable
. Huaneng Group ranks first by virtue of the 6.0 GW framework procurement project, accounting for 91% of the total component calibration in May. The total contribution of other bidders is only 0.5G W. Mainly from the State Energy Group (222.5MW) and the State Power Investment Corporation (198.
From the perspective of reserve projects, the components that have been announced but have not yet been calibrated are being collected. CGN 8. In addition, PetroChina 7.0 GW and Beijing Energy Group 4.
TOPCon dominate, maintaining the mainstream position
of medium and high power. TOPCon modules dominate with a size of 229.8 MW; BC components are calibrated in small batches, and the total amount is about 18. It should be pointed out that most of the items ( 96.
Scaling in the power range above 620 W is much higher than 620 W and below. According to the technical specifications of frame procurement of head enterprises, the frame procurement of Huaneng Group and CGN has set the requirements of medium efficiency and high efficiency classification. On the whole, the current market purchasing demand is still concentrated in the range of 620 – 720 W.
The total bid-winning scale of the first three companies was about 3.3GW , accounting for 48% of the total. However, compared with April, the number of orders taken by enterprises generally decreased.
However, it is worth noting that this month's ranking of enterprises is highly dependent on the quota allocation of Huaneng Group's frame mining projects. The top 6 enterprises are Tongwei Stock, Jingke Energy, Zhengtai Xinneng, Longji Green Energy, Yingli Energy and Tongwei Stock ranks first with 180MW. TCL Central rebounded with 118.05
price curve? Incomplete statistics of com, In May, the overall bidding unit price range was 0.70-0. The highest price, the average price and the lowest price changed by + 11.2%, + 11.7%, + 11.
The highest price appeared in the 2026 PV Module Framework Agreement Procurement Project of China Huaneng Group Co., Ltd. Longji Green Energy offers a price of 0.92 yuan/W ; The lowest price appeared in the base station photovoltaic module equipment procurement project of Hunan Branch of Iron Tower Energy in 2026-2027.
This month, the bidding price rose sharply in all dimensions, mainly driven by the increase in the proportion of high-priced large orders, rather than overall recovery of the market. The price of high-efficiency components in Huaneng Frame Mining is concentrated at 0.87-0. At the same time, small and medium-sized conventional projects are still 0.70-0.
In addition, according to Digital New Energy DataBM. The transaction price of TOPCon component head enterprises has dropped to 0.73-0.76 yuan/W , while that of other small manufacturers has dropped to 0.70-0.
From the demand side, the scale of component collection to be released from June to Q3 is considerable . Q3 is the traditional peak season for PV installation in China, and the demand for material stock for downstream EPC projects is expected to be released centrally from June to August, which is expected to promote the recovery of total component procurement. Particularly noteworthy is that CGN 8.
From the price side, the prices of upstream silicon materials and cells are still in the downward channel, and there is no clear rebound signal, which has limited support for the overall recovery of component prices. Although Huaneng Group raised the average price of this month, such high-priced orders are not universal, and the bid price of conventional power plant procurement projects is 0.70 – 0.0.
However, according to DataBM, at the same time, a number of manufacturers feedback that Q3 overseas market demand is expected to be considerable, which will help to divert domestic inventory pressure. Reduce the domestic bidding pressure of enterprises.
Overall, the component collection market in June is expected to show a pattern of "volume increase and price stability", but the real rise in component prices still needs to be supported by the demand side.
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