On June 10, at the 2025 SNEC International Photovoltaic and Energy Storage Conference, Zhu Gongshan, Chairman of GCL Group, said that the “PV Evolution Theory” simultaneously showed three major changes: First, the industry evolution curve changed. It evolved from linear growth within the previous cycle, wave-like ups and downs every three to five years, to a spiral rise with an uncertain periodicity. The second is the rewriting of the market development logic. In the past, it was policy support, priority consumption, and price protection. Now it is a new model of full marketization, full entry into the market, and floating returns. “Market return” drives the industry to optimize and develop. The third is the extension of industrial boundary attributes. Photovoltaics evolved from a simple power source role to a hub connecting energy production, storage, and consumption, and expanded from a “single grid-connected power generation model” to a “multiple supply of electricity connected to the grid” model, and the market no longer uses grid-connected capacity as the only criterion for judging. Zhu Gongshan believes that a series of major changes taking place in the photovoltaic industry are essentially the result of the resonance of the triple variables of technology, market, and policy: technological iteration accelerates the elimination of backward production capacity, market-based mechanisms restructure revenue models, cross-border integration expands value boundaries, and promotes the transformation of photovoltaics from “participants in the energy revolution” to “zero-carbon system architects.” Instead of looking forward to the cyclical recovery of photovoltaics, it is better to face the disruptive restructuring of the industry.

On June 10, at the 2025 SNEC International Photovoltaic and Energy Storage Conference, Zhu Gongshan, Chairman of GCL Group, said that the “PV Evolution Theory” simultaneously showed three major changes: First, the industry evolution curve changed. It evolved from linear growth within the previous cycle, wave-like ups and downs every three to five years, to a spiral rise with an uncertain periodicity. The second is the rewriting of the market development logic. In the past, it was policy support, priority consumption, and price protection. Now it is a new model of full marketization, full entry into the market, and floating returns. “Market return” drives the industry to optimize and develop. The third is the extension of industrial boundary attributes. Photovoltaics evolved from a simple power source role to a hub connecting energy production, storage, and consumption, and expanded from a “single grid-connected power generation model” to a “multiple supply of electricity connected to the grid” model, and the market no longer uses grid-connected capacity as the only criterion for judging. Zhu Gongshan believes that a series of major changes taking place in the photovoltaic industry are essentially the result of the resonance of the triple variables of technology, market, and policy: technological iteration accelerates the elimination of backward production capacity, market-based mechanisms restructure revenue models, cross-border integration expands value boundaries, and promotes the transformation of photovoltaics from “participants in the energy revolution” to “zero-carbon system architects.” Instead of looking forward to the cyclical recovery of photovoltaics, it is better to face the disruptive restructuring of the industry.