On April 1, the VAT export tax rebate for photovoltaic products, which lasted for more than ten years, was completely canceled. This policy, which once played a key role in the “cultivation period” of China’s photovoltaic industry, ushered in a historic turn after the industry entered a leading position in the world.
PV export tax rebate policy began in 2013. At that time, the domestic photovoltaic industry was hit hard by the “double reverse” investigation in Europe and the United States, and the state introduced the policy of 50% refund of value-added tax on photovoltaic products to help enterprises reduce export costs and tide over the difficulties. Over the next decade or so, the policy has been adjusted several times: from 2018 to 2019, with the national VAT cut to 13%; on December 1, 2024, the first substantial tightening, the tax rebate rate was further reduced to 9%, and the industry-wide reduction in export tax rebates of about $1.054 billion .
in recent years, some photovoltaic enterprises into a vicious price war, the export tax rebate to benefit overseas buyers, resulting in domestic financial funds to subsidize overseas markets in disguise, resulting in profit outflow and “internal externalization”. At present, China’s photovoltaic products account for more than 70% of the global market share , the continuous policy dividend to a certain extent delayed the natural market clearance, some lack of core technology backward production capacity can be maintained, affecting the optimal allocation of resources.
The Ministry of Finance and the State Administration of Taxation jointly issued the “Announcement on Adjusting the Export Tax Refund Policy for Photovoltaic and Other Products” (No. 2 of 2026), marking the entry of the policy into the full withdrawal stage. The industry generally believes that this move is aimed at accelerating the survival of the fittest in the industry through short-term cost pressures, forcing enterprises to shift from relying on price advantages to accelerating the cultivation of technological advantages and global production capacity layout.
At the same time, the regulatory level of the industry’s “inner volume” competition is also increasing. On March 30, the State Administration for Market Regulation issued the “Notice on Further Implementing the” the People’s Republic of China Anti-Unfair Competition Law “, which clearly stated that efforts should be made to prevent and control key industries and fields such as photovoltaics, lithium batteries, and new energy vehicles.” Competition.
From the perspective of market reaction, under the dual effects of policy retreat and market game, the photovoltaic industry is undergoing a profound transformation from “price fighting” to “value reconstruction.
On the one hand, the cost pressure is transmitted downstream. To Jingke Energy, Trina Solar Energy, Longji Green Energy as the representative of the head enterprises have issued a series of price increase notices, some high-power components offer increases even up to 50%. On the other hand, the market transaction momentum is insufficient. Upstream silicon prices have fallen to a new low of about 40000 yuan/ton , while domestic downstream customers generally hold a wait-and-see attitude, the market appeared “upstream down, components shout up” price upside down phenomenon.
The competitive logic of the photovoltaic industry is also undergoing a deep transformation. The reporter learned from the 21st China (Jinan) International Optical Storage Utilization Conference held a few days ago that safety performance, scenario-based solutions and full life cycle service capabilities are becoming the new core competitiveness of enterprises. The customized scheme of balcony photovoltaic, industrial and commercial roof and other subdivision scenes has also become an important starting point for enterprises to open up the market and establish differentiated advantages.
