1997年6月26日，美國退出《京都議定書》的第二天，克林頓政府宣布了“百萬太陽能屋頂計劃”，準(zhǔn)備在2010年之前，在100萬座建筑物上安裝太陽能系統(tǒng)?？吹竭@個消息，高紀(jì)凡義無反顧投入了光伏行業(yè)，他在家鄉(xiāng)常州創(chuàng)立了全國、乃至全球最早一家光伏企業(yè)——天合光能。時年32歲的高紀(jì)凡并非光伏行業(yè)出生，他本碩都是化學(xué)專業(yè)，1988年畢業(yè)時才23歲，經(jīng)過連續(xù)創(chuàng)業(yè)，到1997年，高紀(jì)凡的鋁板幕墻公司已經(jīng)做到了年增長率50%。在那個還沒有多少人知道光伏的年代，高紀(jì)凡毅然放棄了高速增長的鋁板幕墻轉(zhuǎn)行光伏，這源于他對光伏行業(yè)的精準(zhǔn)判斷：太陽能技術(shù)的利用，其市場前景和社會效應(yīng)都無可估量，太陽能在21世紀(jì)會大有作為。過去22年，高紀(jì)凡把天合帶上了高原，帶出了國門，帶入了紐交所。如今，穩(wěn)居全球光伏組件出貨量前三的天合光能已正式啟動回歸A股進(jìn)程，已經(jīng)向上交所遞交在科創(chuàng)板上市的申請材料。
光伏行業(yè)的三起三落 :2000年以來，光伏是發(fā)展速度最快的可再生能源，根據(jù)歐洲光伏聯(lián)盟的數(shù)據(jù)，從2000年到2017年，全球累計裝機(jī)容量從1.25GW增長至400GW，擴(kuò)張320倍。與此同時，光伏也是典型的周期行業(yè)，2000年至今大致經(jīng)歷了三起三落。 
美國很早就提出了“百萬屋頂計劃”，但彼時美國市場并未很快啟動，光伏行業(yè)的爆發(fā)始于以德國為首的歐洲市場。德國、西班牙等市場爆發(fā)帶動全球光伏行業(yè)迎來向上周期。
 
德國早在1998年提出了十萬屋頂計劃，政府支付高額補(bǔ)貼，所以德國是光伏產(chǎn)業(yè)最早崛起的市場，2006年德國裝機(jī)容量就已達(dá)到3.2GW，是同期中國裝機(jī)容量的40倍。光伏產(chǎn)業(yè)大體分為“硅料、硅片—電池片、組件—裝機(jī)系統(tǒng)”三大環(huán)節(jié)，國內(nèi)光伏發(fā)展之初，由硅元素轉(zhuǎn)化為多晶硅/單晶硅的硅料生產(chǎn)技術(shù)被國外壟斷，硅料主要依賴進(jìn)口，同時國內(nèi)光伏下游應(yīng)用較少，所以早期中國光伏企業(yè)主要是做中間環(huán)節(jié)。
2003年前后，英利、無錫尚德、天合光能等相繼投產(chǎn)，成為中國第一批現(xiàn)代意義上的光伏組件生產(chǎn)企業(yè)。由于存在價格優(yōu)勢，中國光伏組件迅速占領(lǐng)全球市場。 
2003年至2007年間，中國光伏產(chǎn)業(yè)的平均增長率達(dá)到190%，2007年，中國晶體硅電池片和組件產(chǎn)量超過了日本和歐洲，成為世界第一大晶體硅電池組件生產(chǎn)國。 
2005年12月，無錫尚德在紐交所上市，創(chuàng)始人施正榮以150億身價超越黃光裕登頂中國首富，光伏行業(yè)逐漸被大家所熟知。隨后，天合、阿特斯、林洋、中電、晶澳等一批國內(nèi)的光伏企業(yè)掛牌海外資本市場，到2008年底，中國有13家光伏企業(yè)完成海外上市。 
但是隨著2008年金融危機(jī)爆發(fā)，光伏行業(yè)受到影響，多晶硅價格從2008年450美元/公斤的高位迅速暴跌。2009年至2010年，德國、意大利等國趁著成本下降開始搶裝，不過這次“搶裝潮”并未持續(xù)太久。 
受2011年末歐債危機(jī)爆發(fā)的影響，歐洲需求迅速萎縮，全球光伏發(fā)電新增裝機(jī)容量增速放緩。這一年，全球裝機(jī)量只有25GW，但光伏組件產(chǎn)量突破50GW，導(dǎo)致供需關(guān)系嚴(yán)重失衡。中國光伏行業(yè)前期產(chǎn)能增長過快，同時還遭受歐美“雙反”調(diào)查，光伏制造業(yè)陷入階段性產(chǎn)能過剩，產(chǎn)品價格大幅下滑，行業(yè)自2011年下半年開始進(jìn)入低谷。在這期間，嚴(yán)重依賴出口的中國光伏企業(yè)損失慘重，江西賽維資不抵債，大批中小企業(yè)停產(chǎn)倒閉。曾經(jīng)的光伏巨頭無錫尚德因無法償還70億元銀行貸款，在2013年3月進(jìn)入破產(chǎn)重整階段，無錫尚德的失敗源于2010年開始對多晶硅的逆勢投資。2013年，光伏行業(yè)終于迎來轉(zhuǎn)機(jī)，同年7月，國務(wù)院發(fā)布《關(guān)于促進(jìn)光伏產(chǎn)業(yè)健康發(fā)展的若干意見》，明確到2015年中國總裝機(jī)容量要達(dá)到35GW以上（2012年底只有3GW），度電價補(bǔ)貼政策也正式啟動。光伏行業(yè)在2013年下半年開始回暖。 
      中國、美國、日本等市場的高速發(fā)展推動全球光伏迎來新一輪向上周期，2013年至2018年，中國光伏發(fā)電新增裝機(jī)容量連續(xù)六年世界排名第一，2017年中國光伏累計裝機(jī)占全球的32%，刷新歷史高位。截至2018年，中國光伏累計裝機(jī)174GW，連續(xù)四年位居世界第一。
中國市場需求增長迅猛，國內(nèi)光伏企業(yè)由出口導(dǎo)向型轉(zhuǎn)變?yōu)閮?nèi)需導(dǎo)向型，嚴(yán)重依賴國外市場的局面得到大幅度改善。與2005年中國光伏電池組件產(chǎn)量的95%以上出口到海外相比，2015年國內(nèi)市場自我消化率已經(jīng)超過1/3。但是2018年，光伏行業(yè)再次遭遇挑戰(zhàn)。這一年，國際貿(mào)易保護(hù)主義頻頻抬頭，美國201法案對全球進(jìn)口的光伏電池和組件征收30%的高額稅收，為期4年，每年下浮5%；印度商務(wù)部啟動防衛(wèi)性關(guān)稅（safeguard），對太陽能電池課征第一年25%的保護(hù)關(guān)稅。國內(nèi)方面，光伏行業(yè)遭到了531新政的嚴(yán)重沖擊，新政直接叫停普通光伏電站，控制分布式光伏規(guī)模，降低補(bǔ)貼強(qiáng)度。531以來，中國光伏標(biāo)桿電價較最高峰下調(diào)了30%-40%，光伏企業(yè)遭遇嚴(yán)峻挑戰(zhàn)。 不過531新政也帶來了一些積極作用，尤其是加快光伏發(fā)電平價上網(wǎng)的進(jìn)程，今年以來，與平價上網(wǎng)相關(guān)的政策密集發(fā)布，青海、內(nèi)蒙等少數(shù)地區(qū)基本實現(xiàn)了平價上網(wǎng)，若系統(tǒng)價格進(jìn)一步下降20%，則全國絕大部分省份將邁向平價時代。平價上網(wǎng)雖然給行業(yè)帶來了陣痛，但積極的一面是使光伏產(chǎn)業(yè)從政策驅(qū)動型加速轉(zhuǎn)變?yōu)槭袌鲵?qū)動型和技術(shù)驅(qū)動型。隨著技術(shù)進(jìn)步導(dǎo)致的成本持續(xù)下降和平價上網(wǎng)的實現(xiàn)，行業(yè)成長邏輯正逐漸擺脫對政策和補(bǔ)貼的依賴，一個新的、自發(fā)的十年高速成長期正在開啟。開啟平價上網(wǎng)后，未來發(fā)展前景空間巨大，光伏發(fā)電目前所占比重為2%左右，未來比重將會達(dá)到20%，有十倍空間。實際上，光伏發(fā)電的廣闊前景不僅讓行業(yè)參與者收益，對于我國的能源轉(zhuǎn)型與革命同樣意義重大。 
       近日，原中國石化董事長傅成玉表示，“在當(dāng)今世界大形勢下，中國的能源安全問題更加凸顯，確保能源安全應(yīng)當(dāng)引起高度重視，采取切實措施和行動?！碑?dāng)務(wù)之急就是要加快可再生能源發(fā)展速度。根據(jù)《能源生產(chǎn)和消費革命戰(zhàn)略(2016-2030)》的目標(biāo)，到2030年，我國非化石能源發(fā)電量占全部發(fā)電量的比重力爭達(dá)到50%。截至目前，全球已經(jīng)有146個國家設(shè)定了可再生能源目標(biāo)，美國圣地亞哥、丹麥確定了到2035年100%的電力來自于可再生能源供應(yīng)的目標(biāo)。一些知名的跨國企業(yè)已經(jīng)實現(xiàn)或制定了100%的可再生能源使用目標(biāo)。而在可再生能源中，光伏產(chǎn)業(yè)是我國為數(shù)不多的、可同步參與國際競爭并在產(chǎn)業(yè)化方面取得領(lǐng)先優(yōu)勢的行業(yè)，與高鐵、大飛機(jī)、運載火箭一起成為中國新名片。在這張新名片里，全球光伏領(lǐng)先企業(yè)天合光能寫下了濃墨重彩的一筆。 
天合光能成立之初，是計劃建立一家光伏系統(tǒng)安裝公司，專門為中國各地提供太陽能電站建設(shè)。2002年，天合成為第一家承擔(dān)國家送電到鄉(xiāng)“光明工程”的民營企業(yè)，一支工程技術(shù)團(tuán)隊在西藏昌都藏區(qū)翻雪山過草地建設(shè)光伏電站，被統(tǒng)稱為“入藏十八勇士”。但在當(dāng)時，中國與歐洲市場不可同日而語，2004年秋，高紀(jì)凡意識到要抓住海外光伏發(fā)電的機(jī)遇，必須向制造端延伸。2005年初，天合籌建了第一家光伏組件生產(chǎn)廠；2006年2月開始制造硅片，年末硅片產(chǎn)量達(dá)到28MW。這一年天合也成功叩開了美國資本市場的大門。
      在當(dāng)時，用于制造硅片的多晶硅被炒到了天價，天合也曾動心要建上萬噸產(chǎn)能的多晶硅廠，奠基儀式舉行、投資協(xié)議都簽了，但行業(yè)里一窩蜂似的瘋狂反而讓高紀(jì)凡冷靜下來，他最終放棄了這個項目，轉(zhuǎn)而專注于天合更有優(yōu)勢的電池、組件生產(chǎn)。這讓天合在08-13年光伏大調(diào)整中躲過一劫，很多鼎盛一時的企業(yè)如無錫尚德、江西賽維都破產(chǎn)了，天合光能卻在組件生產(chǎn)這條路上越走越遠(yuǎn)。2014年，天合光伏組件出貨量達(dá)3.66GW，首次達(dá)到全球第一。根據(jù)IHS發(fā)布的數(shù)據(jù)，2018年全球組件出貨量為104.3GW，天合光能占全球市場份額為6.84%，穩(wěn)居全球組件出貨量的前三名。2018年全球組件出貨量TOP10中，全部都有中國背景，晶科是一家港資企業(yè)，阿特斯是一家華裔創(chuàng)辦的加拿大企業(yè)，韓華是一家在中國的韓資企業(yè)，還有6家都是中國內(nèi)資企業(yè)，光伏組件是少數(shù)能夠由中國企業(yè)主導(dǎo)的行業(yè)。而在這個行業(yè)中，天合光能是當(dāng)之無愧的巨頭。根據(jù)2018年財報，天合、晶科、阿特斯在該年的營業(yè)收入分別為250.54億元、250.43億元和258.68億元，三家公司的營收水平處在行業(yè)第一梯隊，其他公司均未突破250億元。公司在歐洲、美洲、亞洲的多個城市設(shè)立了區(qū)域總部或辦事處，產(chǎn)品覆蓋100多個國家和地區(qū)。公司積累了行業(yè)內(nèi)較高的知名度，建立了優(yōu)質(zhì)的客戶資源。公司在鑄錠、切片、電池、組件等環(huán)節(jié)具備全流程的生產(chǎn)能力，目前已建立了多個GW級的生產(chǎn)基地，在越南、泰國等地具有生產(chǎn)能力，可以有效應(yīng)對全球貿(mào)易保護(hù)等政策風(fēng)險。公司生產(chǎn)基地周邊集聚了30多家光伏生產(chǎn)配套企業(yè)，形成了一條整合完善的產(chǎn)業(yè)鏈。目前，公司主要業(yè)務(wù)包括光伏產(chǎn)品、光伏系統(tǒng)、智慧能源三大板塊。對外提供光伏產(chǎn)品、光伏系統(tǒng)、智慧能源服務(wù)構(gòu)成公司主要的盈利模式。光伏產(chǎn)品是天合傳統(tǒng)的組件業(yè)務(wù)，包括單、多晶的硅基光伏組件的研發(fā)、生產(chǎn)和銷售。公司深度整合PERC、N型、MBB組件、切半組件、雙玻組件、雙面組件等核心技術(shù)，根據(jù)全球不同的市場需求推出差異化的單、多晶組件產(chǎn)品。光伏系統(tǒng)包括電站業(yè)務(wù)及系統(tǒng)產(chǎn)品業(yè)務(wù)。隨著國內(nèi)市場的快速發(fā)展，光伏企業(yè)紛紛加快了項目開發(fā)建設(shè)的速度，以大型地面電站為主的市場快速增長。天合光能通過成立項目公司作為電站項目投資者，負(fù)責(zé)電站的開發(fā)與建設(shè)。 
       另外，公司也銷售光伏系統(tǒng)產(chǎn)品，包括大型光伏電站系統(tǒng)產(chǎn)品、商用光伏系統(tǒng)產(chǎn)品與戶用光伏系統(tǒng)產(chǎn)品。2016-2018年，公司系統(tǒng)產(chǎn)品銷售收入從560萬元增長到12億元。智慧能源包括光伏發(fā)電及運維服務(wù)、智能微網(wǎng)及多能系統(tǒng)、能源云平臺等業(yè)務(wù)。收入來源主要是光伏發(fā)電及運維服務(wù)，公司運營光伏電站發(fā)電取得電費收入，并提供維護(hù)服務(wù)。智能微網(wǎng)及多能系統(tǒng)、能源云平臺等業(yè)務(wù)還在起步階段。
 2016-2018年，公司光伏組件占主營業(yè)務(wù)收入的比例分別為93.04%、85.16%和59.81%。出現(xiàn)這樣的變化，除了受行業(yè)政策、公司生產(chǎn)線技改、產(chǎn)品單位售價下降等因素外，還在于公司的戰(zhàn)略定位逐漸向光伏智慧能源整體解決方案提供商延伸，目前已初顯成效。531新政是光伏行業(yè)的一個轉(zhuǎn)折點，其根本目的是加快光伏發(fā)電平價上網(wǎng)的進(jìn)程。作為綠色能源，光伏發(fā)電只有在實現(xiàn)平價上網(wǎng)的目標(biāo)后才能真正使其大規(guī)模替代化石能源成為可能。2008年時，我國光伏上網(wǎng)電價高達(dá)4元/度，國家補(bǔ)貼3.65元/度，補(bǔ)貼比例高達(dá)91.25%。今年4月28日，國家發(fā)改委《關(guān)于完善光伏發(fā)電上網(wǎng)電價機(jī)制有關(guān)問題的通知》規(guī)定：將納入國家財政補(bǔ)貼范圍的Ⅰ、Ⅱ、Ⅲ類資源區(qū)新增集中式光伏電站指導(dǎo)價分別確定為每千瓦時0.40元、0.45元、0.55元。近年來，我國光伏上網(wǎng)電價從4元/度降低至0.4元/度，其直接原因是光伏度電成本下降了90%。根據(jù)咨詢機(jī)構(gòu)BNEF數(shù)據(jù)統(tǒng)計，自2007年開始的十年時間內(nèi)，光伏發(fā)電組件、光伏發(fā)電系統(tǒng)成本分別下降88.3%和91.6%，度電成本累計下降了約90%。 
光伏成本下降主要得益于光伏電池組件的轉(zhuǎn)換效率持續(xù)提升。其中，電池片環(huán)節(jié)主要通過不斷研發(fā)、應(yīng)用更為高效的技術(shù)路線。晶硅電池作為主流的光伏電池，其技術(shù)方向包括單晶和多晶。過去光伏多使用多晶硅片，因為多晶硅片的價格比單晶硅片的價格更具有優(yōu)勢，不過從轉(zhuǎn)換效率上來看，常規(guī)多晶量產(chǎn)組件產(chǎn)品轉(zhuǎn)換效率在18.8%，而常規(guī)單晶效率在20-20.2%。近年來，隨著金剛線切割技術(shù)的運用與推廣，硅片成本大幅降低。但是金剛線切多晶硅片用常規(guī)制絨工藝后，反射率更高并有明顯的線痕，嚴(yán)重降低電池效率。因此，在使用金剛線切割的多晶硅片制備光伏電池的過程中，需要增加一道表面制絨的工藝處理，即黑硅技術(shù)。單晶硅電池則通過提高拉速、連續(xù)投料等技術(shù)提高單位產(chǎn)出降低單位成本，近年來市場份額逐步增大，2018年單晶硅片的市場份額已經(jīng)超高40%，中國光伏行業(yè)協(xié)會預(yù)計2019年將超過一半，其中N型單晶硅片的市場規(guī)模也將逐年提升。 
        單晶P型電池中PERC技術(shù)逐漸成為主流，疊加SE（選擇性發(fā)射極）技術(shù)，電池效率逐漸提升。但是P型電池有其轉(zhuǎn)換效率的極限，而N型電池成為未來高轉(zhuǎn)換效率的方向，目前包括PERC、TOPCon（隧穿氧化鈍化接觸）、IBC（全背電極接觸）、HJT（異質(zhì)結(jié)）四種技術(shù)路徑。 從全產(chǎn)業(yè)鏈來看，硅片、電池片、組件的價格雖然短期內(nèi)會受供需等市場因素影響呈現(xiàn)波動趨勢，但是長期在技術(shù)迭代驅(qū)動下不斷下降。根據(jù)Solarzoom統(tǒng)計，國內(nèi)光伏硅片、電池片、組件價格除2014年年初同比略增外，其他年度同比均呈下降趨勢。天合光能的光伏組件功率及電池轉(zhuǎn)換效率處于行業(yè)領(lǐng)先地位，在業(yè)內(nèi)率先研發(fā)成功了以PERC電池、IBC電池、切半、MBB、雙玻等為代表的電池及組件技術(shù)。 
天合建立了強(qiáng)大的研發(fā)團(tuán)隊。在外擁有包括被譽為“太陽能之父”的澳大利亞馬丁·格林教授和來自德、日、美等國的頂尖光伏專家組成的學(xué)術(shù)委員團(tuán)隊；在內(nèi)擁有以中國首批“外專千人計劃”專家皮爾·沃林頓博士為首席科學(xué)家為核心的技術(shù)創(chuàng)新隊伍。截至2019年3月31日，天合光能及其境內(nèi)下屬公司獲頒專利證書的專利共有767項，其中發(fā)明專利284項，先后被國家知識產(chǎn)權(quán)局評為“國家知識產(chǎn)權(quán)優(yōu)勢企業(yè)”、“中國專利優(yōu)秀獎”。公司擁有光伏科學(xué)與技術(shù)國家重點實驗室及國家企業(yè)技術(shù)中心等創(chuàng)新平臺，積累了一批具有自主知識產(chǎn)權(quán)的核心技術(shù)。
此外，公司還積極承擔(dān)國家科研項目，包括2項國家973計劃、5項國家863計劃以及其他各類科研項目60余項，領(lǐng)銜參與全球光伏標(biāo)準(zhǔn)編制，代表中國首提IEC國際標(biāo)準(zhǔn)并正式發(fā)布。2011年至2018年期間，公司已經(jīng)18次打破電池效率和組件功率的世界紀(jì)錄。2019年5月27日，天合光能宣布其光伏科學(xué)與技術(shù)國家重點實驗室所研發(fā)的高效N型單晶i-TOPCon太陽電池光電轉(zhuǎn)換效率高達(dá)24.58%，創(chuàng)造了大面積TOPCon電池效率新的世界紀(jì)錄。并且天合光能不斷將新技術(shù)應(yīng)用于產(chǎn)品，已推出了N型i-Topcon雙面雙玻高效組件，獲得雙項IEC標(biāo)準(zhǔn)認(rèn)證，實現(xiàn)大規(guī)模量產(chǎn)，正面功率達(dá)425W，組件轉(zhuǎn)換效率高達(dá)20.7%。天合光能不僅在電池轉(zhuǎn)換效率上追求極限，其正在大力發(fā)展的分布式光伏，同樣是推動平價上網(wǎng)的關(guān)鍵一環(huán)。所謂分布式光伏發(fā)電，是指在用戶所在場地或附近建設(shè)運行，以用戶側(cè)自發(fā)自用為主、多余電量上網(wǎng)且在配電網(wǎng)系統(tǒng)平衡調(diào)節(jié)為特征的光伏發(fā)電設(shè)施。相比于集中式光伏，分布式光伏具有安裝靈活、投入少、方便就近消納的優(yōu)點，有利于解決我國發(fā)電與負(fù)荷不一致的問題，同時大幅降低傳輸損失，減少對大電網(wǎng)的以來，并緩解電網(wǎng)的投資壓力。我國“十三五”規(guī)劃提出優(yōu)化太陽能開發(fā)布局、優(yōu)先發(fā)展分布式光伏發(fā)電，規(guī)劃到2020年底國內(nèi)分布式光伏要占到太陽能發(fā)電裝機(jī)55%左右。 
天合光能布局分布式光伏發(fā)電，在戶用光伏層面，推出直接服務(wù)與終端用戶的標(biāo)準(zhǔn)化戶用光伏解決方案——“天合富家”戶用原裝光伏系統(tǒng)。目前，公司已經(jīng)擁有超過450家縣級經(jīng)銷商，并繼續(xù)發(fā)展全國的經(jīng)銷服務(wù)網(wǎng)絡(luò)。為實現(xiàn)平價上網(wǎng)，公司在未來將加大投入，計劃在科創(chuàng)板上市融資30億元，總投資近60億元投向三大項目，其中晶硅、太陽能電池和光伏組件技改及擴(kuò)建項目是實現(xiàn)平價上網(wǎng)的關(guān)鍵環(huán)節(jié)。
本次技改及擴(kuò)建項目的內(nèi)容主要是改造和新建數(shù)條高效太陽能電池片生產(chǎn)線，并將相關(guān)技術(shù)導(dǎo)入公司光伏組件產(chǎn)品中；同時，通過進(jìn)一步優(yōu)化生產(chǎn)工藝，從而降低公司光伏組件的單位成本，實現(xiàn)平價上網(wǎng)的“最后一公里”。

On June 26, 1997, the day after the United States withdrew from the Kyoto Protocol, the Clinton administration announced the Million Solar Roof Initiative, a plan to install solar systems on one million buildings by 2010.Seeing this news, Gao Jifan invested in the photovoltaic industry without turning back. He founded Trina Solar Energy, the first photovoltaic enterprise in China and even in the world, in his hometown Changzhou.At the age of 32, Gao Jifan was not born in the photovoltaic industry. He majored in chemistry for both his bachelor's and master's degrees. He was only 23 when he graduated in 1988. In the era when few people knew about photovoltaic, Gao Jifan resolutely gave up the high-speed growth of aluminum curtain wall and switched to photovoltaic, which was due to his accurate judgment of the photovoltaic industry: the use of solar technology, its market prospects and social effects are immeasurable, solar energy will have a great impact in the 21st century. Over the past 22 years, Mr Gao has taken TRW to the plateau, out of China and into the New York Stock Exchange. Now, Trina Solar, which ranks among the top three in global PV module shipments, has officially started the process of returning to A-share market and submitted application materials to the Shanghai Stock Exchange for listing on the Science and Technology Innovation Board.

Three ups and downs in the PV industry: Since 2000, PV has been the fastest growing renewable energy source, with global cumulative installed capacity growing from 1.25GW to 400GW from 2000 to 2017, an expansion of 320 times, according to the European Photovoltaic Alliance. At the same time, photovoltaic is also a typical cycle industry, which has experienced roughly three ups and downs since 2000.

The US proposed the "Million Roof Plan" very early, but the US market did not take off very quickly. The explosion of photovoltaic industry began in Europe, led by Germany. Germany, Spain and other markets led to the global photovoltaic industry ushered in an upward cycle.

As early as 1998, Germany proposed a plan of 100,000 roofs, and the government paid high subsidies, so Germany was the earliest market to rise in the photovoltaic industry. In 2006, Germany's installed capacity reached 3.2GW, which was 40 times that of China in the same period. Photovoltaic industry can be divided into "silicon, wafers, cells, components -- installed system" of the three links, the early development of the domestic photovoltaic (pv), composed of silicon into polycrystalline silicon/silicon single crystal silicon material production technology by foreign monopoly, silicon material mainly rely on import, at the same time, the domestic photovoltaic downstream application is less, so the early China pv enterprises are mainly do the intermediate links.

Around 2003, Yingli, Wuxi Suntech and Trina Solar went into production one after another, becoming the first batch of photovoltaic module manufacturers in the modern sense in China. Due to the existence of price advantage, China's photovoltaic modules quickly occupy the global market.

From 2003 to 2007, the average growth rate of China's photovoltaic industry reached 190%. In 2007, the output of crystalline silicon cells and modules in China surpassed that of Japan and Europe and became the world's largest producer of crystalline silicon cell modules.

In December 2005, Suntech Wuxi was listed on the New York Stock Exchange, and its founder Shi Zhengrong surpassed Huang Guangyu to become the richest person in China with a net worth of 15 billion yuan. The photovoltaic industry has been gradually known to everyone. Subsequently, a number of domestic photovoltaic enterprises such as TRW, ATEX, Lin Yang, CLP Power and JA were listed in the overseas capital market. By the end of 2008, 13 Chinese photovoltaic enterprises had completed overseas listing.

However, as the financial crisis broke out in 2008, the photovoltaic industry was affected, and the price of polysilicon plummeted from the high of $450 / kg in 2008. In 2009-10, countries like Germany and Italy took advantage of falling costs, but the rush didn't last long.

Affected by the outbreak of the European debt crisis at the end of 2011, European demand shrank rapidly, and the growth rate of new installed capacity of global photovoltaic power generation slowed down. This year, the global installed volume was only 25GW, but the output of photovoltaic modules exceeded 50GW, resulting in a serious imbalance between supply and demand. In the early stage, the production capacity of China's photovoltaic industry grew too fast, and at the same time, it was also subject to the "double-counter" investigation in Europe and the United States. As a result, the photovoltaic manufacturing industry fell into the stage of overcapacity, and the product price dropped sharply. The industry began to hit a trough in the second half of 2011. During this period, Chinese photovoltaic enterprises, which were heavily dependent on exports, suffered heavy losses. Jiangxi SAV was insolvent, and a large number of small and medium-sized enterprises stopped production and closed down.Wuxi Suntech, a former photovoltaic giant, went into bankruptcy in March 2013 after failing to repay a bank loan worth 7 billion yuan. The company's failure stemmed from a countertrend investment in polysilicon that began in 2010. In 2013, the photovoltaic industry finally saw a turning point. In July of the same year, the State Council issued the "Several Opinions on Promoting the Healthy Development of the Photovoltaic Industry", which made it clear that China's total installed capacity should reach more than 35GW by 2015 (only 3GW by the end of 2012), and the electricity price subsidy policy was officially launched.The PV industry began to pick up in the second half of 2013.

The rapid development of China, the United States, Japan and other markets has driven the global PV industry to ushered in a new round of upward cycle. From 2013 to 2018, China's newly installed PV capacity ranked first in the world for six consecutive years. In 2017, China's cumulative installed PV capacity accounted for 32% of the global total, setting a new historical high. By 2018, China's cumulative installed PV capacity had reached 174GW, ranking first in the world for four consecutive years.

With the rapid growth of Chinese market demand, domestic photovoltaic enterprises have changed from export-oriented to domestic-demand-oriented, and their heavy dependence on foreign markets has been greatly improved. Compared with 2005, when more than 95 percent of China's PV module production was exported overseas, the self-digestibility of the domestic market has exceeded one third in 2015. But 2018 was another challenging year for the photovoltaic industry.This year, international trade protectionism frequently reared its head. The US Act 201 imposed a high tax of 30% on imported photovoltaic cells and modules from all over the world, with an annual decrease of 5% for four years. India's commerce ministry has launched a SafeGuard, introducing a 25% tariff on solar cells for the first year.Domestically, the photovoltaic industry was severely impacted by the 531 New Deal, which directly stopped ordinary photovoltaic power stations, controlled the distributed photovoltaic scale, and reduced the intensity of subsidies. Since May 31, China's photovoltaic benchmark electricity price has been reduced by 30%-40% compared with the peak, and photovoltaic enterprises have encountered severe challenges. 531 also brought some positive effects of the New Deal, however, especially accelerate the process of photovoltaic parity on the Internet, since this year, and affordable access to the Internet related policy dense release, qinghai, Inner Mongolia basically achieved parity in minority areas such as Internet access, further price fell by 20%, if the system is the most provinces will towards parity era. Although parity Internet has brought pain to the industry, but the positive side is that the photovoltaic industry from policy-driven accelerated change to market-driven and technology-driven. As costs continue to fall due to technological progress and affordable Internet access is realized, the industry growth logic is gradually getting rid of the dependence on policies and subsidies, and a new, spontaneous decade of high-speed growth is beginning. After opening the parity Internet, the future development prospect space is huge, the current proportion of photovoltaic power generation is about 2%, the future proportion will reach 20%, there is ten times the space.In fact, the broad prospect of photovoltaic power generation is not only beneficial to industry participants, but also of great significance to China's energy transformation and revolution.

     Recently, Fu Chengyu, former chairman of Sinopec, said, "China's energy security has become a more prominent issue under the current global situation. We should attach great importance to ensuring energy security and take concrete measures and actions." The most urgent task is to accelerate the development of renewable energy.According to the Strategy for a Revolution in Energy Production and Consumption (2016-2030), China aims to generate 50 percent of its electricity from non-fossil energy sources by 2030. So far, 146 countries have set renewable energy targets, with the US city of San Diego and Denmark aiming to generate 100% of their electricity from renewable sources by 2035. Some well-known multinationals have already achieved or set 100% renewable energy targets. In terms of renewable energy, photovoltaic industry is one of the few industries in China that can synchronously participate in international competition and gain a leading advantage in industrialization. It has become a new name card of China together with high-speed rail, large aircraft and carrier rocket.In this new business card, Trina Solar, the world's leading photovoltaic company, wrote a strong and colorful pen.

Trina started with a plan to set up a photovoltaic system installation company to build solar power stations across China.In 2002, TRW became the first private enterprise to undertake the "Bright Project" of national power transmission to the township. An engineering and technical team built photovoltaic power stations in the snow-covered mountains and grasslands in Tibetan Qamdo, Tibet, which is collectively known as the "Eighteen Warriors Into Tibet". But at the time, China and Europe were different markets, and in the fall of 2004, Gao Jifan realized that in order to take advantage of overseas photovoltaic opportunities, he would have to expand to the manufacturing side. In early 2005, TRW set up its first photovoltaic module manufacturing plant;Wafer manufacturing began in February 2006, and the wafer output reached 28MW by the end of the year. This year TRW also successfully opened the door of the US capital market.

At the time, used in the manufacture of silicon polysilicon fired by sky-high, trina has tempted to build tens of thousands of tons of polysilicon plant capacity, foundation stone laying ceremony held, the investment agreement signed, but industry systematically crazy calm unstoppable down instead, he finally gave up this project and have more advantages to focus Yu Tiange batteries, components production. This allowed TRW to avoid a disaster during the big photovoltaic adjustment from 2008 to 2013. Many prosperous enterprises, such as Wuxi Suntech and Jiangxi SAV, went bankrupt, while TRW went further and further on the road of module production. In 2014, TRW's PV module shipments reached 3.66GW, ranking first in the world for the first time.According to data released by IHS, the global component shipments in 2018 were 104.3GW, and Trina Solar accounted for 6.84% of the global market share, ranking firmly in the top three of the global component shipments. Among the TOP10 global module shipments in 2018, all of them have Chinese background. Jinko is a Hong Kong-owned company, Atez is a Canadian company founded by Chinese people, Hanwha is a Korean-owned company in China, and 6 are Chinese-owned enterprises. Photovoltaic modules are among the few industries that can be dominated by Chinese enterprises.In this industry, Trina Solar is the undoubted giant. According to the 2018 financial report, the operating income of TRW, Jinko and Atez in that year was 25.054 billion yuan, 25.043 billion yuan and 25.868 billion yuan respectively. The revenue level of the three companies was in the first echelon of the industry, while the other companies did not exceed 25 billion yuan.The company has set up regional headquarters or offices in many cities in Europe, America and Asia, and its products cover more than 100 countries and regions. The company has accumulated a high visibility in the industry, the establishment of quality customer resources.The company has the whole process production capacity in ingot, chip, battery, module and other links. At present, it has established a number of GW level production bases, and has production capacity in Vietnam, Thailand and other places, which can effectively deal with the policy risks of global trade protection. More than 30 photovoltaic production supporting enterprises are gathered around the production base of the company, forming an integrated and perfect industrial chain. At present, the company's main business includes photovoltaic products, photovoltaic systems, smart energy three sectors.The main profit model of the company is to provide photovoltaic products, photovoltaic systems and smart energy services. PV products are TRW's traditional module business, including the development, production and sales of single and polycrystalline silicon-based PV modules. The company deeply integrates PERC, N-type, MBB components, cut half components, double glass components, double-sided components and other core technologies, according to the different global market demand to launch differentiated single, polycrystalline components products. Photovoltaic system includes power plant business and system products business.With the rapid development of the domestic market, photovoltaic enterprises have accelerated the speed of project development and construction, and the market dominated by large ground power stations is growing rapidly. Trina Solar is responsible for the development and construction of the power station through the establishment of the project company as the investor of the power station project.

In addition, the company also sells PV system products, including large-scale PV power station system products, commercial PV system products and household PV system products. From 2016 to 2018, the sales revenue of the company's system products increased from 5.6 million yuan to 1.2 billion yuan.Smart energy includes photovoltaic power generation and operation and maintenance services, intelligent micro grid and multi-energy system, energy cloud platform and other businesses. The main sources of income are photovoltaic power generation and operation and maintenance services. The company generates electricity from photovoltaic power stations and provides maintenance services. Smart micro grid, multi-energy system, energy cloud platform and other businesses are still in the initial stage.

From 2016 to 2018, PV modules accounted for 93.04%, 85.16% and 59.81% of the company's main business revenue, respectively.Such a change, in addition to the industry policy, the company's production line technical transformation, product unit price drop and other factors, also lies in the company's strategic positioning gradually extended to the photovoltaic smart energy overall solution provider, has shown initial results. 531 New Deal is a turning point in the photovoltaic industry, its fundamental purpose is to speed up the process of photovoltaic power parity online.As a green energy, photovoltaic power generation only after achieving the goal of affordable Internet access can it really make its large-scale replacement of fossil energy become possible. In 2008, the on-grid price of photovoltaic power in China was as high as 4 yuan/kWh, and the state subsidy was 3.65 yuan/kWh, with the subsidy ratio as high as 91.25%. On April 28 this year, the National Development and Reform Commission on the perfect photovoltaic feed-in tariff mechanism related issues notice "provisions: will be included in the scope of the state financial subsidies Ⅰ, Ⅱ, Ⅲ new centralized resource area determined separately on the photovoltaic power station guidance price per kilowatt hour 0.40 yuan, 0.45 yuan and 0.55 yuan. In recent years, the on-grid price of photovoltaic power in China has been reduced from 4 yuan per kilowatt hour to 0.4 yuan per kilowatt hour, which is directly attributable to a 90% drop in the cost of photovoltaic per kilowatt hour.According to BNEF, a consultancy, the cost of photovoltaic modules and systems fell by 88.3% and 91.6%, respectively, in the 10 years since 2007, and the cost per kilowatt hour has fallen by about 90%.

The decrease in PV costs is mainly due to the continuous improvement in the conversion efficiency of PV cell modules.Among them, the battery link mainly through continuous research and development, the application of more efficient technical route. Crystalline silicon cell is the mainstream photovoltaic cell, its technical direction includes single crystal and polycrystalline.In the past, polycrystalline silicon wafers were mostly used for photovoltaic, because the price of polycrystalline silicon wafers was more competitive than that of monocrystalline silicon wafers. However, from the perspective of conversion efficiency, the conversion efficiency of conventional polycrystalline mass production modules was 18.8%, while that of conventional single crystals was 20-20.2%. In recent years, with the application and promotion of diamond wire cutting technology, the cost of silicon wafer has been greatly reduced.But the diamond wire cut polysilicon wafer with the conventional process, the reflectivity is higher and there are obvious line marks, seriously reduce the battery efficiency. Therefore, in the process of preparing photovoltaic cells with Diamond wire cut polycrystalline silicon sheets, a surface fleecing process, namely black silicon technology, needs to be added. In recent years, the market share of monocrystalline silicon wafers has increased gradually. In 2018, the market share of monocrystalline silicon wafers has been over 40%, and the China Photovoltaic Industry Association is expected to exceed half in 2019, among which the market size of N-type monocrystalline silicon wafers will also increase year by year.

Single crystal P cell in the PERC technology gradually become the mainstream, superposition SE (selective emitter) technology, battery efficiency gradually improved. However, the P-type battery has its limit of conversion efficiency, and the N-type battery has become the direction of high conversion efficiency in the future, which currently includes PERC, TOPCON (tunneling oxidation passivation contact), IBC (full back electrode contact), and HJT (heterojunction) four technical paths. From the perspective of the whole industrial chain, although the prices of silicon wafers, battery wafers and components will fluctuate under the influence of market factors such as supply and demand in the short term, they will continue to decline under the drive of technological iteration in the long term.According to the statistics of SolarZoom, the prices of domestic photovoltaic silicon wafers, cells and modules have shown a downward trend in other years, except for a slight year-on-year increase at the beginning of 2014. Trina solar photovoltaic module power and battery conversion efficiency in the industry leader, in the industry took the lead in the development of PERC battery, IBC battery, cut half, MBB, double glass as the representative of the battery and module technology.

TRW has built a strong research and development team.It has a team of academic committee members including Professor Martin Green from Australia, who is known as the "father of solar energy", and top photovoltaic experts from Germany, Japan, the United States and other countries. It has a technical innovation team with Dr. Pier Warrington, an expert of China's first "Thousand Talents Plan for Foreign Professionals" as the chief scientist at the core. As of March 31, 2019, Trina Solar and its domestic subsidiaries have obtained patent certificates for a total of 767 patents, including 284 invention patents. Trina Solar has been successively awarded as "National Intellectual Property Advantage Enterprise" and "China Patent Excellence Award" by the State Intellectual Property Office. The company has a number of innovation platforms such as the state key laboratory of photovoltaic science and technology and the national enterprise technology center, and has accumulated a number of core technologies with independent intellectual property rights.

In addition, the company also actively undertakes national scientific research projects, including 2 National 973 Program, 5 National 863 Program and more than 60 other kinds of scientific research projects. It takes the lead to participate in the compilation of global photovoltaic standards, and puts forward the IEC international standard on behalf of China for the first time and officially releases it. Between 2011 and 2018, the company has broken world records for battery efficiency and component power 18 times.On May 27, 2019, Trina Solar announced that its highly efficient N-type single crystal I-TOPCON solar cell, developed by the State Key Laboratory of Photovoltaic Science and Technology, has achieved a photoelectric conversion efficiency of 24.58%, setting a new world record for the efficiency of large-scale TOPCON cells. Trina Solar has been constantly applying new technologies to its products. It has launched N-type I-TOPCON double-sided double-glass high-efficiency components, which have been certified by double IEC standards and achieved mass production. The front power reaches 425W and the conversion efficiency of components reaches 20.7%.Trina Solar is not only pursuing the limit of battery conversion efficiency, but also developing distributed photovoltaic, which is also a key link to promote affordable Internet access. The so-called distributed photovoltaic power generation refers to the photovoltaic power generation facilities that are built and operated in or near the site where the user is located, dominated by spontaneous self-use of the user side, and characterized by excess electricity surfing the Internet and balance adjustment in the distribution network system.Compared with the centralized photovoltaic, distributed photovoltaic has the advantages of flexible installation, less investment and convenient nearby consumption, which is conducive to solving the problem of inconsistent power generation and load in China, while significantly reducing the transmission loss, reducing the large power grid, and easing the investment pressure on the power grid. China's "13th Five-Year Plan" proposes to optimize the layout of solar energy development and give priority to the development of distributed photovoltaic power generation. By the end of 2020, distributed photovoltaic power generation will account for about 55% of the installed solar power generation capacity in China.

Trina Solar distributed distributed photovoltaic power generation, in the household photovoltaic level, launched a direct service and end user of the standardized household photovoltaic solution -- "Trina Home" household original photovoltaic system. At present, the company has more than 450 distributors at the county level, and continues to develop a nationwide distribution service network.In order to achieve affordable Internet access, the company will increase investment in the future. It plans to raise 3 billion yuan by listing on the science and technology innovation board, and invest nearly 6 billion yuan in three major projects. Among them, the technological renovation and expansion projects of crystal silicon, solar cells and photovoltaic modules are the key links to achieve affordable Internet access.

The content of this technical renovation and expansion project is mainly to transform and build several high-efficiency solar cell production lines, and introduce the relevant technology into the photovoltaic module products of the company; At the same time, by further optimizing the production process, the unit cost of photovoltaic modules of the company can be reduced, and the "last kilometer" of affordable Internet access can be realized.