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Solar Giants Pivot to Batteries as PV Sales Stall
5 Jun
Summary
- Chinese solar manufacturers are boosting battery exports due to slowing PV sales.
- Key companies like JinkoSolar and JA Solar are accelerating battery expansion.
- Battery export growth is projected at 30% for 2026, contrasting slower solar exports.
Major Chinese solar panel manufacturers are intensifying their focus on higher-margin battery exports to counteract a slowdown in photovoltaic (PV) sales. Companies including JinkoSolar, JA Solar, LONGi Green Energy, and Trina Solar are accelerating their expansion into the energy storage sector. This strategic shift is driven by weaker domestic installations, decelerating exports, and record-low PV prices, with industry executives anticipating a global demand decline in 2026.
JinkoSolar, for instance, plans to nearly triple its battery manufacturing capacity by the end of 2026, from 5 GWh to 13-14 GWh, to address the intermittency of renewable energy sources. This move reflects a broader industry trend, as highlighted by energy think tank Ember, with countries like Japan, Vietnam, India, Germany, the Netherlands, the U.S., and Australia being significant importers of Chinese batteries. JA Solar's marketing director noted a shift in focus at industry gatherings, with energy storage products now taking center stage over PV-focused displays.
While Chinese solar firms are entering a market led by battery giants like CATL and BYD, they leverage their supply-chain expertise and integrated solar-plus-storage solutions. Trina Solar reported its energy storage shipments in the March quarter quadrupled year-on-year, with approximately 90% of those exports. CATL projects energy storage to constitute half of its global sales by 2030, up from 25% currently, underscoring the critical need for reliable renewable power support.
