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On December 3, 2024, Xiaohua (Jimmy) Xu, Chairman and CEO of Huasun Energy, participated in a panel discussion with the widely debated topic of “The Make-or-Break Year for Solar: What’s Next for the Industry?” at the Bloomberg New Energy Finance (BNEF) Summit Shanghai 2024, which brought together industry leaders to explore challenges and solutions in the evolving solar market.
Jimmy Xu highlighted the importance of national policies in shaping the future of solar energy, noting the ongoing challenges of overcapacity and fierce price competition in 2024. He emphasized that stricter regulations in China would impact business strategies, particularly for smaller tech-driven companies. Despite these challenges, Xu expressed his great prospect to collaborate with more tech-oriented companies to accelerate technological advancements and industry upgrades.
Panelists widely agreed that the growth of solar installations is slowing, and external factors are bringing more rational capital into the market. As competition intensifies, investments in technology are strengthen barriers to entry. This shift, along with industry self-regulation, is expected to lead to a more balanced and orderly market by mid-2025.
Jimmy Xu also stressed that the future of solar industry lies in system integration and intelligent solutions, which offer greater value than traditional module manufacturing alone. Huasun, as the world’s largest producer of heterojunction (HJT) solar products, is focusing on both technological innovation and aligning with the evolving market demand for integrated energy solutions.
Huasun has successfully realized the large-scale industrialization of HJT technology, delivering significant cost reduction and module efficiency improvement. As a result, HJT modules have become a preferred choice in tenders by major state-owned enterprises in China. Furthermore, the lower carbon footprint of HJT production has driven growing demand in new large-scale solar projects across Europe and the U.S. Huasun’s success in both domestic and international markets underscores the strong momentum and global potential of HJT technology.
Looking ahead, Huasun remains committed to prioritizing cost reduction and efficiency improvements, further maintaining its leadership in module power and efficiency. Huasun is also focusing on the development of the next revolutionary solar products, represented by HJT-perovskite tandem cells. Furthermore, Huasun plans to collaborate with both upstream and downstream industry partners to explore new growth opportunities for HJT modules, including vertical installations in sectors such as transportation and agriculture, thereby further expanding the application potential of heterojunction solar technology.
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