After two years of pandemic impact, Intersolar Europe has reopened this year. InfoLink observed during the exhibition and clearly felt that the number of attendees was higher than in previous years, and the European market had a hot demand for orders. From this year to the first half of next year, orders from first tier vertically integrated manufacturers were basically fully signed, and some small terminal manufacturers reported that they were unable to purchase components from first tier manufacturers and were seeking supply from second tier component manufacturers. The situation of hot demand for orders was also reflected in the spot prices, compounded by exchange rate factors. Currently, the European market prices are rapidly increasing, with spot prices reaching a level of 0.28-0.30 US dollars per watt or above.
The highly discussed topics in the exhibition hall are still the market's recent international trade turmoil, the competition between China and the United States, and the rise of domestic manufacturing in India. Building factories overseas has become the hottest topic recently. In addition to the expansion of production in the United States, India and other places, Europe is also seeking to break away from its dependence on a single country in the photovoltaic industry, and the issue of "Made in Europe" has once again surfaced for discussion.
In addition to many manufacturers planning to improve their local manufacturing supply chains, European local component manufacturers are also seeking non Chinese made raw material supplies, such as overseas silicon materials, silicon wafers, auxiliary materials, etc. In addition to the difficulty of large material supplies still coming from Chinese manufacturing, European labor costs, electricity prices, and other production costs are driving up local prices. Moreover, if Europe needs to have its own supply of battery cells, the investment cost of European equipment is high, and how to reduce costs will still be a major test in the future.
The European policy goal is to form a 20GW silicon wafer, battery, and module production capacity cluster in Europe by 2025. However, as the EU currently does not have clear support policies to encourage local expansion, only a few manufacturers have begun to deploy expansion plans, and actual equipment orders have not yet been seen landing. If European local manufacturing wants to improve, it still depends on whether the EU has relevant and practical incentive support policies in the future.
In addition to seeing mainstream PERC components, there are also many exhibits showcasing N-type component products at this exhibition. Benefiting from the increasing demand in Europe, high acceptance of new technologies and prices, as well as the promotion of low-carbon footprint component demand in some countries, the European market will be the forefront of global N-type component production.
This time, we learned that the current N-type products are still in the early stage of promotion. It can be seen that most Chinese manufacturers are trying to narrow the price gap to bring in the product advantages of PERC components, and are using high wattage, weak light, and other performance to make some end users accept the use of N-type projects. The current TOPCon price difference compared to PERC is about 1-2 cents per watt and the price difference is gradually narrowing, while the HJT price difference mostly ranges from 1-5 cents per watt depending on the manufacturer's strategy. If N-type products are gradually recognized and popularized in Europe, it will accelerate the development and application of N-type technology, and the shipment of N-type products is expected to increase in 2023.
Intersolar Europe 2022 has come to a perfect end. This year, Europe has experienced immediate changes in its energy transition due to the impact of the Russia Ukraine war. Energy prices in Europe are rapidly rising, and this exhibition shows that the market is beginning to change in demand growth, prices, component projects, etc. The significant impact of residential electricity prices will also quickly stimulate the growth of distributed photovoltaics. Southern Europe is dominated by large ground power plants, and overall European component demand is expected to increase to around 40-50 GW this year.

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