In May, combined photovoltaic (PV) cell output of industrial enterprises above designated size reached 20.39 million KW, up 9.4% YoY and up 72.7% or 8.59 million KW MoM (daily output, 657 800 KW, up 67.17% or 264 300 KW MoM). In the first five months, PV cell output totaled 85.39 million KW, up 7.4% YoY.
Since the second quarter, domestic PV firms have gradually resumed production, which was halted in 1Q due to the coronavirus pandemic. However, product prices were lowered as overseas outbreak of the disease led to a collapse in demand.
In the second half of 2020, demand for PV products is forecast to increase. The growth is likely to exceed expectation given factors like grid-connection peak of PV power generation projects before June 30, alleviation of the coronavirus pandemic, low product prices, etc.