Since 2026, the navigation crisis in the Strait of Hormuz triggered by the US Israel Iran conflict is reshaping the global energy market with much greater force than expected. As the core throat of global oil and liquefied natural gas transportation, the Strait of Hormuz undertakes 25% of global oil trade volume and 20% of liquefied natural gas supply. After the outbreak of war, the strait was close to being cut off, and international oil prices soared from the pre war range of $70-80 per barrel to $119.50 per barrel. European TTF natural gas futures prices rose by over 50% in a single day, causing severe fluctuations in the global energy market.
Unlike the rebound in demand for fossil fuels such as coal in previous energy crises, renewable energy, especially solar photovoltaic, has become the core option for countries to hedge risks in this crisis. According to data from the International Energy Agency (IEA), solar photovoltaics will contribute nearly 27% of the global energy demand increase by 2025, surpassing natural gas for the first time. The Strait of Hormuz crisis has further strengthened this trend: the proportion of wind and solar power generation in Spain continues to increase, and the time when electricity prices are affected by fluctuations in natural gas prices has decreased by 60% compared to before the crisis; Germany announced an increase in the proportion of renewable energy generation from 65% to 70% by 2030; Asian energy importing countries such as India and Japan have introduced subsidy policies to accelerate the landing of photovoltaic projects.
This crisis has made countries realize the fragility of energy systems that rely on a single energy channel and fossil fuels, "said Professor Yu Hongyuan from the School of Politics and International Relations at Tongji University." Renewable energy, especially solar panel field, is upgrading from climate friendly energy to geopolitical security assets, and the gap in energy security between early and undeveloped countries will continue to widen
Against the backdrop of explosive growth in global demand for solar panel, China's photovoltaic industry, with its complete industrial chain advantages and technological accumulation, has become the core beneficiary of this energy transformation wave. According to data from the China Chamber of Commerce for Import and Export of Machinery and Electrical Products, in the first two months of 2026, China's exports of photovoltaic products reached 4.29 billion US dollars, a year-on-year increase of 4.1%, demonstrating strong resilience in the turbulent global energy market.
From the perspective of export structure, China's photovoltaic foreign trade is transitioning from "exporting single components" to "exporting full chain solutions". In the European market, Trina Solar has customized an intelligent tracking system solution for photovoltaic projects under complex geological conditions in Spain. Through joint technical evaluation and optimization of pile foundation configuration, the construction efficiency has been improved by 30%; PWSOLAR is able to establish a full chain system of "product supply localized services ecological cooperation" in Italy, deeply collaborating with local distributors and installers, and maintaining market share growth for three consecutive years.
The Middle East market is becoming a new growth pole for Chinese photovoltaic companies. At the 2026 World Future Energy Summit, some domestic companies signed a strategic cooperation agreement with Saudi Arabia's Haala Energy to build a 1.8MW agricultural photovoltaic complementary project for Bateel date palm farm. Through the combination of efficient components and automated cleaning equipment, the project aims to achieve a 25% increase in power generation efficiency and friendly coexistence with agricultural production; A Chinese photovoltaic company has signed a 20 MW photovoltaic project with Yemen's ATG energy enterprise, and its anti wind and sand component products have shown excellent stability in high temperature and high dust environments in the local area.
The differentiated layout of the Asia Pacific market has also achieved significant results. In response to Japan's market-oriented transformation after the withdrawal of the FIT policy in 2027, Chint New Energy has launched full field photovoltaic products covering ground power stations, industrial and commercial, and household use; PWSOLAR also has partnered with a Malaysian company to develop a commercial rooftop photovoltaic project, using heterojunction components and an integrated energy storage system to help customers achieve an 18% reduction in electricity costs per kilowatt hour.
Despite strong demand, China's photovoltaic foreign trade is also facing new challenges. On the one hand, the global industrial chain restructuring is accelerating, and countries such as Europe and America have introduced compliance requirements such as carbon footprint and raw material traceability, which have raised the market access threshold; On the other hand, the rise of trade protectionism in some countries poses a potential threat to the export of Chinese photovoltaic products.
Chinese photovoltaic companies are actively responding to this through technological innovation and localized layout. At the technical level, N-type batteries have become mainstream in the market, with a market share of over 50% in the first quarter of 2026 and expected to exceed 70% by the end of the year. The mass production efficiency of TOPCon cells reached 25.5% -26.5%, with a cost reduction of 10% compared to traditional PERC cells; HJT batteries continue to increase their market share in the high-end distributed market with a conversion efficiency of 26% -26.8%. The laboratory efficiency of perovskite stacked batteries has exceeded 33%, and several enterprises are building GW level pilot lines. It is expected to achieve small-scale mass production in 2027-2028.
Localized layout has become the core strategy for enterprises to avoid trade barriers and enhance market competitiveness. Top companies are building production bases in Southeast Asia, the Middle East, the Americas, and other regions. It is expected that by 2026, the proportion of overseas production capacity of Chinese photovoltaic enterprises will increase to 15%.
Wang Qing, Director of the Industry Development Department of the China Photovoltaic Industry Association, said, "The current global photovoltaic market is shifting from 'price competition' to a comprehensive competition of 'technology+cost+service'. Chinese enterprises are expected to dominate the new round of competition with their vertically integrated industrial chain, continuous technological investment, and global operational capabilities
The energy market turbulence triggered by the Strait of Hormuz crisis is essentially an accelerator in the global energy system's transition from fossil fuels to renewable energy. The International Renewable Energy Agency predicts that by 2030, the global installed capacity of photovoltaics will exceed 1000GW, and by 2050, wind and photovoltaic power will provide nearly 46% of the world's electricity.
For PWSOLAR, this is both an opportunity and a challenge. In the context of global energy transition, we need to further strengthen technological innovation, especially in maintaining a leading position in next-generation technology routes such as perovskite and BC cells; Continuously optimizing global layout and deepening localized operational capabilities; Strengthen the construction of ESG system to meet the increasingly stringent global requirements for sustainable development.
The China Chamber of Commerce for Import and Export of Mechanical and Electrical Products predicts that the export volume of solar panel in China will continue to grow in 2026, and the export proportion is expected to exceed 50%. With the acceleration of global energy transition, PWSOLAR will not only continue to serve as a new calling card for "Made in China", but also become an important participant in global energy security and climate governance, contributing Chinese strength to building a more stable and sustainable global energy system.
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