1. Inverters: Accelerated Technology Iteration, Emerging Markets Drive Growth

In 2024, the inverter segment was one of the most actively evolving areas in the PV industry chain. At industry exhibitions such as SNEC, numerous manufacturers showcased new products targeting different application scenarios, with product matrices continuing to expand.

Technology Evolution Directions:

Higher Power Ratings: String inverters for large‑scale ground power plants continued to increase in power; 1500V systems became the mainstream configuration, effectively reducing line losses and system costs

Compatibility with Larger Modules: Next‑generation inverters are optimized for 600W+ high‑power modules, with increased MPPT channels to improve generation efficiency under partial shading

Focus on C&I Scenarios: Specialized models for commercial and industrial rooftops have been developed to suit different roof conditions, with some products supporting higher DC/AC ratios to improve project economics

Residential Storage Integration: AC‑coupled and DC‑coupled technologies both advanced, enabling customer‑side PV‑storage integration for peak‑load shaving and backup power functions

Market Characteristics:

In 2024, emerging markets became a significant growth driver for inverter exports. Rising PV installation demand in the Middle East, Southeast Asia, and South America further optimized export structures. Meanwhile, inventory destocking in the European residential storage market neared completion, and new demand gradually recovered. In large‑scale project tenders, the inverter segment remained highly competitive, with leading manufacturers holding dominant shares through technological advantages and large‑scale delivery capabilities.

2. Cables and Connectors: From “Hidden Supporting Role” to Quality Focus

In 2024, the reliability of cables and connectors in PV power plants received unprecedented attention. Industry consensus held that connection system reliability directly affects the safety of the plant throughout its lifecycle.

Product Innovation Directions:

Long‑Life Design: Next‑generation cable ties and connectors are designed to match the 25‑year life of PV plants, using high‑strength weather‑resistant materials to eliminate system failure risks caused by accessory aging

Installation Convenience: Tool‑free installation, quick‑locking, and similar concepts have been introduced to improve construction efficiency while maintaining reliability

Enhanced Weather Resistance: Specialized cable accessories developed for extreme environments (coastal, high‑humidity, desert) use both material and structural optimizations to withstand harsher operating conditions

Industry Trends:

As PV power plants move toward “unmanned, intelligent operation and maintenance”, connection system reliability has become a key design consideration. In large‑scale project tenders, quality certifications and durability test reports for cables and connectors are now critical evaluation items.

3. Tracking Systems: Intelligent Upgrades and Emerging Market Expansion

In 2024, the penetration rate of tracking systems in large‑scale ground power plants continued to rise. Globally, more than 40% of ground‑mount PV systems now use trackers, with penetration exceeding 80% in some countries.

Technological Breakthroughs:

AI Algorithm Integration: Next‑generation tracking systems incorporate weather forecasting data and AI algorithms, adding functions such as back‑tracking optimization and cloudy‑sky mode to further increase generation

Multi‑Point Drive Technology: Multi‑point drive systems are replacing traditional linkage drives, reducing on‑site assembly complexity and avoiding failure risks associated with mechanical linkages

Enhanced Terrain Adaptability: Tracking systems developed for complex terrain offer greater height adjustment ranges and tilt compensation, reducing site grading requirements

Application Expansion:

In 2024, the application of tracking systems in agrivoltaics and fishery‑solar hybrid projects matured. By optimizing column heights and array spacing, tracking systems can maximize generation while preserving space for agricultural or fishery operations. The Middle East and Southeast Asia became important growth regions for tracking systems.

4. Lightweight Modules and Flexible Mounting Solutions: Addressing Load‑Limited Scenarios

For roofs with limited load‑bearing capacity or complex structures, lightweight modules and associated mounting solutions made significant progress in 2024.

Product Characteristics:

Lightweight Design: Polymer composite materials replace traditional glass and aluminum frames, reducing weight by more than 50% compared to conventional modules, meeting installation requirements for older factory buildings and light‑gauge steel roofs

Impact Resistance: New materials offer excellent UV resistance, impact resistance, and flame retardancy, ensuring long‑term outdoor reliability while reducing weight

Flexible Adaptation: Small‑format products meet power generation needs for non‑traditional installation spaces such as balconies and facades

Application Scenarios:

Lightweight modules have been deployed at scale in industrial factory roofs, public building facades, agricultural greenhouses, and similar applications. Dedicated clamps and adhesive solutions for different substrate types (metal roofs, concrete, membrane structures) have developed in parallel, forming complete installation solutions.

5. Off‑Grid Solar Kits: Strong Performance in Emerging Markets

In 2024, the global off‑grid solar market maintained growth, providing clean energy solutions to unelectrified or under‑electrified regions.

Market Size:

Global sales of off‑grid solar kits (including portable solar lamps, multi‑light systems, and home systems) reached millions of units, with newly installed capacity continuing to grow. East Africa remained the world‘s largest off‑grid solar market, accounting for more than 70% of global sales.

Product Mix:

Portable solar lamps remained the volume leader, meeting basic lighting needs

Multi‑light systems and home systems increased their share, reflecting user upgrades from basic lighting to diversified electricity needs

Derivative products such as solar fans and solar water pumps saw notable growth, with applications extending from household lighting to agriculture and commercial use

Growth Drivers:

Innovative payment models (such as pay‑as‑you‑go), improved product reliability, and strengthened local service networks collectively drove continued off‑grid solar market penetration in Africa and other regions.

6. Balance‑of‑System Materials: Technology Barriers Build Moats

In 2024, the balance‑of‑system (BOS) materials segment showed clear divergence. Sub‑sectors with strong technological advantages and cost control demonstrated greater resilience.

Technology Evolution Directions:

Encapsulation Materials: N‑type modules impose higher requirements on encapsulation materials; PID resistance and corrosion resistance became key competitive factors

Silver Paste: As battery technology evolves toward TOPCon, HJT, BC and other directions, silver paste products must continuously iterate to adapt to new processes

Interconnect Ribbons: 0BB (busbar‑less) technology is advancing, and products with integrated design to reduce silver consumption gained industry attention

Mounting Systems: Fixed‑tilt and tracking systems continued to optimize structural design and material selection to adapt to larger modules and more complex terrain conditions

Competitive Landscape:

Segments with clear technology barriers (such as encapsulation materials and silver paste) maintained relatively stable profitability. In the mounting systems segment, the ability to provide integrated solutions for complex terrain and to achieve rapid project deployment became core competitive advantages.