From June 3 to 5, the 19th (2026) International Photovoltaic Power Generation and Smart Energy Conference & Ehibition (hereinafter referred to as 'SNEC') was held in Shanghai.

From LONGi Green Energy (SH601012, share price 12.44 yuan, market cap 94.271 billion yuan) to JinkoSolar (SH688223, share price 5.07 yuan, market cap 52.066 billion yuan), and from GCL Technology (HK03800, share price 0.7 HKD, market cap 23.252 billion HKD) to JA Solar (SZ002459, share price 8.04 yuan, market cap 26.61 billion yuan), the PV giants at this year’s SNEC exhibition have unanimously pushed energy storage to the 'center stage' (the most important and most closely watched position in any setting). On the other hand, energy storage leader Sungrow (SZ300274, share price 146.8 yuan, market cap 304.3 billion yuan) officially launched its solar modules, making a reverse move into the module sector.

The boundary between solar power and energy storage is rapidly dissolving. Behind this lies a clear chain of industry logic. PV module prices have hit rock bottom, and cost differences of a few cents per watt are no longer the core of competition. In contrast, the ability to provide integrated 'generation, storage, and consumption' energy solutions is the key to securing a competitive edge in the next round. The competitive landscape is shifting from 'who generates the most' to 'who manages it best,' and from selling products to selling solutions. At the same time, the entry of AI (artificial intelligence) has added another variable to this transformation.

From PV to Energy Storage

PV giants are making energy storage a key focus at this year’s SNEC. PV module manufacturers are entering the energy storage system sector, while raw material suppliers in the PV industry chain are also moving into the upstream lithium battery materials segment of the energy storage market. On the other hand, energy storage companies are beginning to enter the PV module sector—Sunny Power, for example.

Photovoltaics and energy storage are converging. Qin Shilong, Board Secretary of JinkoSolar, stated in an exclusive interview with a reporter from National Business Daily: “ Three to five years ago, modules were viewed as the 'outlet' of the industry chain, with strategic focus concentrated on the product side. Today, industry competition has shifted to building capabilities in energy solutions, which has become a critical juncture for securing strategic positioning in the future.” Both PV and energy storage companies are evolving toward 'one-stop solutions,' but given differences in their channel brands and accumulated capabilities, their areas of emphasis also vary significantly.

“JinkoSolar’s core strengths lie in our long-term experience in matching various power generation scenarios with module products, as well as our deep understanding of downstream application scenarios. Currently, on the energy storage side, JinkoSolar is still strengthening its expertise in power electronics and system-level integration capabilities. We are primarily leveraging our core module business to drive synergy with energy storage, rather than fully adopting a power electronics-centric approach.” Qin Shilong noted, "In terms of competitive dynamics, some energy storage manufacturers in the market are already leading in power electronics and integrated delivery, with their foray into modules primarily driven by customer-side demands for integrated 'generation-grid-load-storage' solutions. However, there is a misalignment between energy storage and PV module manufacturers in terms of core customer bases, application focus, and delivery models. At this stage, direct and comprehensive head-to-head competition is relatively limited, with a greater emphasis on differentiated competition."

However, he also noted that in emerging fields such as AIDC (Artificial Intelligence Data Centers), mature solutions have yet to be established, and all players are currently exploring possibilities. Meanwhile, skepticism has emerged within the new energy sector. Previously, the industry’s rush to expand into photovoltaics led to severe overcapacity, and the sector is still grappling with the aftermath of that 'internal competition.' Now, with photovoltaic companies collectively flooding into the energy storage sector, will this also turn energy storage into a 'red ocean'?

In response, Qin Shilong believes that this round of capacity changes in the photovoltaic industry is the result of the combined effects of market forces and the industry’s developmental stage. “On the one hand, sustained growth in end-user demand has fueled positive expectations for the industry’s future; on the other hand, as technology matures and the supporting industrial chain improves, construction cycles have shortened and investment barriers have lowered, which has objectively driven a rapid increase in supply capacity.”

Throughout this process, multiple stakeholders—including local industrial development initiatives and financial institutions—have collectively contributed to the formation and evolution of the industry ecosystem. Meanwhile, the scaled development of energy storage began relatively late. In terms of technology route selection, policy implementation, and capacity planning, the sector has maintained a more cautious pace of expansion, aligning with the current stage of its own industrial development. In Qin Shilong’s view, for a rapidly growing industry, a moderate level of excess capacity is reasonable, and the core of industry development lies in maintaining a healthy cyclical adjustment mechanism. “Under the framework of building a unified national market, the coordination and continuity of industrial policies have been further strengthened, which will help guide the energy storage industry toward more stable and sustainable development.”

From 'High Production' to 'Stable Storage' and Rational Allocation

Although the solar industry is currently in a price slump, many manufacturers from other sectors are still flooding into the market. However, fundamentally, these new entrants are not primarily interested in solar power itself, but rather in the integration of solar and storage technologies.

Recently, Sungrow, a leading manufacturer of PV inverters and energy storage systems, launched its own PV modules, officially entering the PV module market and sparking heated discussion within the industry. Why has Sungrow, which has specialized in PV inverters for over two decades, chosen to enter the module sector during the industry’s downturn? Sungrow stated that for a long time, the PV industry has been fixated on achieving single-point extremes in power output and size, often overlooking the synergistic effects of modules within power plant systems and their full lifecycle value. This 'module-centric' mindset—focusing solely on individual components—essentially amounts to a 'physical aggregation of local optima.' Exceptional parameters achieved in laboratories are difficult to fully realize in real-world power plant scenarios, and systemic issues such as safety, operations and maintenance, and asset preservation call for new solutions. With the cost of solar power generation now very low, how to utilize this low-cost but intermittent solar power has become a key focus for all parties at this year’s SNEC exhibition.

Huang Yongtao, General Manager of Skyworth PV Nengliang Technology, stated: “If ‘generating more’ is about expanding revenue streams, then 'storing effectively' is about preserving value and managing resources wisely. The key to generating and storing electricity lies in ‘using it all up.’ This is the final step in generating revenue. Many people have installed solar panels but end up wasting electricity—and losing potential revenue—due to improper electricity usage patterns and inadequate management.” In short, while the PV industry previously focused on how much electricity equipment could generate, Sungrow has ushered the sector into a new phase of competition centered on full-lifecycle value and user needs.

One industry insider commented: “The core reason Sungrow entered the PV (module) sector is that it has come to a realization. Focusing solely on energy storage is insufficient; achieving 'carbon neutrality' is essential. Why has Deye Co. performed so well in Africa? (Because) it meets user needs. Deye Co. has purchased a large number of solar panels to develop various solutions. For example, a tent can be set up with solar panels covering the entire roof.”

Deye Co., another leader in PV inverters and energy storage converters, has opened up the market by offering comprehensive new energy power generation solutions, becoming the 'Transsion' of Africa’s new energy power generation sector. Deye’s approach has also inspired many manufacturers to launch system solutions, moving toward integrated solutions for both power generation and consumption. At the SNEC exhibition, a Gree Electric staff member told reporters: “Our system solutions allow DC power generated by solar panels to be fed directly into air conditioners, or connected to AC power from the grid. Additionally, batteries can be included as an optional component.” With the cost of solar power generation now very low, how to utilize this low-cost but intermittent solar power has become a key focus for all parties at this year’s SNEC exhibition.

Huang Yongtao, General Manager of Skyworth PV Nengliang Technology, stated: “If 'generating more' is about expanding revenue streams, then 'storing effectively' is about preserving value and managing resources wisely. The key to generating and storing electricity lies in 'using it all up.’ This is the final step in generating revenue. Many people have installed solar panels but end up wasting electricity—and losing potential revenue—due to improper electricity usage patterns and inadequate management.”

The Energy Storage Industry Adopts AI Agents

Wu Xiaojian, Executive Vice President of Skyworth Solar and General Manager of the Smart Energy Business Division, stated: “The new energy industry has been evolving rapidly in recent years. Competition in the sector is no longer limited to simply selling equipment or building power plants. For new energy companies to achieve steady growth, they must rely on comprehensive capabilities across all areas, with digital capabilities being particularly critical. By leveraging digital platforms, companies can build high-quality power plants, effectively manage assets, and optimize resource utilization to maximize operational efficiency and asset value.”

Sigenergy, on the other hand, has gone a step further by introducing the AI Agent—a hot trend in the tech sector—to leverage AI for empowering the new energy sector and managing energy resources. On May 29, Sigenergy advanced its "AI in All" strategy, promoting the comprehensive integration of AI into key processes such as product design, system operation, and energy dispatch, and launched the energy industry’s first all-domain AI agent.

It is important to note that large AI models generally suffer from the hallucination problem, and energy management is a field that requires precise control. So, how will the introduction of AI in the energy storage sector address this issue of hallucinations?

In response, Xu Yingtong, Chairman and CEO of Sigenergy, told reporters: “The value of our self-developed Agent lies in the fact that general data from the internet or other products serves only as a reference in our decision-making. The large model primarily handles common-sense tasks, such as language understanding, multilingual translation, and complex task orchestration. At the equipment operation level, control is entirely managed by our in-house developed Agent. This is because the truly specialized data originates from our own operations, and the large model lacks this domain-specific knowledge.” Additionally, the capabilities of large language models are influenced by three key factors: algorithms, computing power, and data. So, how will these models acquire data from the new energy sector? Xu Yingtong explained to reporters: “We can adopt a DC bus solution, where each mounted device (including DC chargers) integrates a large number of sensors. The challenge in data collection lies in the fact that data from each interface is collected at millisecond intervals. Data collected from the grid side, DC side, and battery side must be processed under the same timestamp to enable calculations. We have resolved this issue through extensive complex algorithms and internal scheduling, thereby establishing a high-quality data foundation.” He also noted that, through long-term accumulation, this solution can generate personalized data profiles covering the entire lifecycle of user devices, providing reliable data support for the dedicated Agent’s “long-term memory” and continuous evolution.

From Earth to Space

From photovoltaics to energy storage, and from "generating more" to "consuming more," photovoltaic and energy storage manufacturers are showcasing their unique strengths. Beyond this, the photovoltaic industry is also seeking new growth opportunities, shifting its focus from Earth to space. Tian Qingyong, General Manager of Kunshan GCL Optoelectronic Material Co., Ltd, stated: “The space photovoltaic market is currently dominated by triple-junction gallium arsenide (GaAs) cells, with a cost per watt as high as several hundred yuan. The cost of perovskite cells themselves is extremely low. Even after optimization with space-grade materials, the cost per watt for cell materials increases by only a few cents—a figure that is virtually negligible compared to the hundreds of yuan per watt for gallium arsenide.” He further noted: “The primary cost of perovskite modules stems from encapsulation materials (such as specialty conductive glass). As production capacity increases and the supply chain matures, encapsulation costs are expected to drop significantly, further widening the cost-effectiveness gap with gallium arsenide.”

However, the primary application of perovskite remains on the ground. In the ground-mounted PV sector, perovskite costs significantly more than crystalline silicon, mainly due to small production scale and high procurement costs for core materials. As production ramps up and supply chain localization progresses, the cost gap between the two is expected to gradually narrow. It should be noted that current perovskite modules still lag behind crystalline silicon in terms of cost, lifespan, and light-to-electricity conversion efficiency. So, will the company choose to compete with crystalline silicon through differentiation in the future?

In response, Tian Qingyong stated: “Our strategy is to maintain the capability to compete directly with crystalline silicon while strengthening our differentiated advantages. Large-format modules are our primary focus, and the cost disadvantage will improve with economies of scale. We will not abandon the mainstream crystalline silicon market, which spans hundreds of gigawatts, while accelerating penetration into differentiated markets such as BIPV (Building-Integrated Photovoltaics) and automotive applications.”