From June 3 to 5, the 19th International Photovoltaic Power Generation and Smart Energy Conference & Ehibition (hereinafter referred to as 'SNEC') was held in Shanghai. After two years of efforts to combat internal competition, the photovoltaic industry remains mired in a price war. However, compared to last year’s SNEC, this year’s exhibition was much livelier.

A reporter from National Business Daily (hereinafter referred to as 'NBD reporter') observed at the exhibition that the buzz was not centered on photovoltaics, but rather on energy storage, PV-storage integration, and the synergy between computing and power. Under the current circumstances, the three major PV giants—LONGi, GCL Technology, and Tongwei—have each chosen different paths: LONGi has opted for PV-storage integration, GCL Technology has shifted its focus from silicon to lithium battery materials, while Tongwei remains committed to the PV industry.

LONGi: Focusing on the Integration of Solar and Storage

Standing at the LONGi booth and looking around, it hardly feels like you’re at a solar energy exhibition. At the center of the display are solar-storage products, not solar PV products. Solar modules, which have long occupied the center stage, are relegated to a corner of the booth. Zhong Baoshen, Chairman of LONGi, explained the company’s rationale for integrating solar and storage: solar power addresses the issue of energy supply, while energy storage solves the problem of time alignment. Only by combining the two can solar power transition from a 'low-cost supplementary power source' to a 'primary power source.' The shift from solar to solar-storage integration comes at a time when, on one hand, prices for silicon materials and modules have hit rock bottom again; on the other hand, demand for solar power is also declining. According to data from the National Energy Administration, from January to February 2026, new PV installations totaled 32.48 GW (gigawatts), a year-on-year decline of 18%; in March, new PV installations reached 8.91 GW, down 55.98% year-on-year; and in April, new PV installations stood at 9.52 GW, a year-on-year drop of 79%.

In contrast, the energy storage sector is experiencing rapid growth. CITIC Securities estimates that new domestic energy storage installations will reach approximately 298 GWh (gigawatt-hours) in 2026, maintaining a high growth rate. It is not just LONGi; even Daqo Energy, which has long focused exclusively on the polysilicon business, has begun to transition toward energy storage. On June 3, Daqo Energy announced that the company plans to invest 6 billion yuan to build a fully smart energy system manufacturing base project, primarily engaged in the R&D, manufacturing, and sales of smart energy system solutions and related equipment (including energy storage systems, solid-state transformers, solid-state circuit breakers, and solid-state batteries).

GCL Technology: Moving Beyond Traditional Solar

“If you look beyond photovoltaics, there are many things that can make the world seem a beautiful place,” said Lan Tianshi, Co-CEO of GCL Technology, during an interview with media outlets—including a reporter from the National Business Daily—on June 3.

Compared to Longi Green Energy’s move toward integrating solar and storage, GCL Technology appears even more aggressive. As early as May 17, GCL Technology issued an announcement declaring the launch of a comprehensive strategic transformation, shifting from granular silicon to a new ecosystem featuring a three-pronged approach of 'silicon-based, lithium-based, and carbon-based' technologies. The 'silicon-based' component refers to granular silicon, 'lithium-based' to lithium iron phosphate (LFP) cathode material for lithium-ion batteries, and 'carbon-based' to silicon-carbon anode material for lithium-ion batteries. At this year’s SNEC, Lan Tianshi further stated, “Our goal within three years is to reduce (GCL Technology’s) PV product revenue to 20%.”

Lan Tianshi elaborated: “Based on a polysilicon price of 40,000 yuan per ton, selling 200,000 tons would generate 8 billion yuan in revenue. In 2026, shipments of lithium iron phosphate cathode material for lithium-ion batteries are projected to reach 250,000 tons; assuming this grows to 300,000 tons, revenue would reach 21 billion yuan.” Lan Tianshi added: “The business model of treating photovoltaics solely as a power generation device is a thing of the past; integration of solar and storage is essential. Solar power has very strong predictability, with peak generation occurring between 10 a.m. and 2 p.m. However, as we continue to expand PV generation, it’s like piling more and more material onto the thickest part of a suit of armor—it doesn’t improve the average power generation over a 24-hour period.” Therefore, Lan Tianshi concluded: “If we continue to see ourselves merely as PV manufacturers without shifting our mindset, then even if costs drop further, we won’t have any real advantage. Saving one fen per watt doesn’t offer a significant edge. The core lies in addressing what specific ‘pain points’ we can solve for our customers.”

The raw material for granular silicon is silane gas, which is also the raw material for silicon-carbon anodes. Regarding this, Lan Tianshi told a reporter from the National Business Daily: “We have the world’s largest supply of silane gas, and we are currently shifting our focus toward silicon-carbon anodes. A pilot production line for silicon-carbon anodes should be operational this year, with a production capacity of between 500 and 1,000 tons.” Regarding silicon-carbon anodes, Lan Tianshi believes 2026 will mark the year of their breakthrough. “Previously, silicon-carbon anodes were mainly used in consumer electronics, but this year they have begun to be used in automobiles, with two to three high-end models already adopting them.”

It is worth noting that silicon-carbon anodes have historically suffered from expansion issues, with their expansion and contraction causing damage to battery structures. Addressing this, Lan Tianshi told a reporter from the National Business Daily: “Now, porous carbon can be engineered with controlled pore structures, resulting in significantly improved performance stability compared to previous bio-based materials. This has already been validated in smartphones. Previously, fast-charging phones using silicon-carbon anodes experienced rapid battery degradation. However, battery degradation in fast-charging phones today is much better than it was two years ago.” Lan Tianshi indicated that in the future, GCL will produce less granular silicon from silane gas and instead allocate its silane gas production capacity to the silicon-carbon anode sector.

Unlike Longi Green Energy, GCL Technology, and Daqo Energy, which have expanded into energy storage and lithium battery materials, Tongwei Co., Ltd. has chosen to remain focused on the photovoltaic industry. On June 3, Xing Guoqiang, Chief Technology Officer of Tongwei’s PV division, stated that while the PV industry will face short-term pressures in 2026, its long-term outlook remains positive.

Xing noted that in the short term, China’s 'Circular No. 136' has driven the full participation of new energy sources in electricity market transactions, deeply linking the returns of PV projects to market price fluctuations. This has created a certain impact on project investment decisions in the short term, leading to a slowdown in the pace of demand release. Regarding overseas markets, growth in traditional markets such as Europe and the United States is expected to slow due to trade barriers, policy uncertainties, and grid integration bottlenecks. While emerging markets in the Middle East and Asia-Pacific are expected to maintain growth, this will not be sufficient to fully offset the overall pressure. According to forecasts by third-party institutions such as S&P, global new PV installations in 2026 may decline by approximately 4% year-over-year compared to 2025, with demand exhibiting regional divergence.

However, from a long-term perspective, Tongwei Co., Ltd. remains firmly confident in the growth potential of the photovoltaic industry. Xing Guoqiang noted two key factors: first, the full realization of grid-parity applications for solar-plus-storage and the continued expansion of cost advantages. As PV technology costs continue to decline and energy storage system costs drop rapidly, 'solar-plus-storage' has become the most economical form of energy in many regions worldwide. Its cost-per-kilowatt-hour advantage over traditional fossil fuels will continue to widen, driving the accelerated transformation of the global energy structure through fundamental economic logic. Second, there is significant room for growth in market penetration. By the end of 2025, global cumulative PV installed capacity will just exceed 2,900 GW. According to forecasts by international organizations, to achieve global carbon neutrality goals, cumulative installed capacity must reach tens of thousands of gigawatts by 2050. Currently, the penetration rate of PV power generation in the global power system remains low. Driven by the two major narratives of the era—energy transition and energy self-reliance and security—its growth ceiling is far from being reached.

Tongwei’s resolve, LONGi’s breakthrough, and GCL’s pivot collectively outline the survival strategies of PV giants in an era of competition for existing market share. In the early summer of 2026, the buzz returned to SNEC, but this was no longer a solo act for photovoltaics; rather, it marked the prelude to the integration of solar and storage. Only those who can reshape value in this transformation—from 'chasing the sun' to energy storage—will truly welcome the dawn of the next cycle.