As photovoltaic (PV) companies struggle to survive amidst intense market conditions, they’re simultaneously investing in innovative new products—a seemingly paradoxical, yet essential strategy for 2024. With fierce competition in the domestic market and uncertain prospects abroad, the key question arises: where does the next opportunity for photovoltaics lie?

While installation capacity continues to increase, profit margins in the PV industry are declining, and with current supply exceeding demand, domestic companies face the pressing challenge of finding their edge in this saturated market. Conversations with industry insiders earlier this year highlighted a budding segment that’s in early trial stages domestically. Though challenging in certain cities due to policy constraints, this approach has seen promising success in select pilot areas.

This new segment is commercial and industrial rooftop photovoltaics (C&I PV). As one of the primary types of distributed PV systems, C&I rooftop PV is poised for unprecedented growth. But why is the timing ideal for these projects? The rapid advancement in PV technology has significantly reduced production costs while simultaneously improving conversion efficiency. Through innovations in materials and manufacturing, solar panels have achieved substantial gains in photovoltaic conversion rates. Emerging technologies—like thin-film solar cells, bifacial modules, and PV-storage integration—further enhance system performance while driving down costs, bolstering the economic feasibility of C&I PV. This cost-effectiveness is a defining advantage for C&I rooftop projects.

Considering the growth trajectory of renewable energy in China, C&I rooftop PV has immense market potential, especially in industrial parks, office buildings, hospitals, schools, conference centers, and stadiums. These venues often have large roof spaces and stable electricity demands, ideal conditions for rooftop PV projects. Government support for renewable energy continues, and these projects' relatively short investment payback periods make them particularly attractive to investors.

Success in C&I rooftop PV requires blending traditional methods with innovative technologies. Unlike conventional PV projects, C&I rooftop systems benefit from integrating IoT, big data, artificial intelligence, and virtual power plant technologies to achieve smart PV systems. Why is this necessary? For both users and investors, enhancing operational efficiency and reducing maintenance costs are paramount. Achieving these goals demands real-time monitoring, fault diagnostics, and predictive maintenance. The integration of virtual power plants, coupled with storage technologies, allows for flexible power distribution, maximizing operational efficiency and improving the economic viability of PV systems—key factors for scalability.

The market for C&I rooftop PV spans across various Chinese cities. Western provinces, Yunnan, and Hainan boast abundant sunlight, while many southern cities benefit from substantial government support, making the second half of 2024 through 2025 a highly promising period for this segment.