According to TrendForce's database of China's photovoltaic industry bidding and tendering, in H1 2024, the capacity of domestic component group procurement bid is about 108GW, among which the bidding volume of N-type components has reached 90.3GW, accounting for 84%. This value has risen by 24% compared to H2 2023, and the penetration rate of N-type components continues to increase. Currently, they have an absolute mainstream position in the market, while the market share of P-type components has significantly decreased.
Looking at it monthly, in June 2024, the domestic component bidding volume was about 10.4GW, which continued to decline month-over-month, mainly due to small-scale centralized demand that fell short of expectations. Among them, the bidding volume of N-type components reached 8.56GW, accounting for approximately 82%.
Figure: Monthly bidding capacity (MW) for domestic components from June 2023 to June 2024
![](https://postimg.futunn.com/news-editor-imgs/20240705/public/17201596113923585854945.png)
In terms of power, there are approximately 108GW of component bids in H1 2024, with 570W and above components as the mainstream. The bidding scale is about 74.6GW (69%), and the bidding scale of components above 600W is 5.3GW (4.9%). Among them, about 873MW specifically proposed bidding for components of 700W and above. In terms of single/double-sided selection, among the 108GW component bids, the bidding scale for double-sided components is about 62.6GW, accounting for approximately 58%, and the bidding scale for double-sided and double-glass accounts for about 26.7% (28.8GW).
In terms of bid prices, in H1 2024, there were about 29GW P-type component project centralized bidding openings (including some comprehensive price projects), and the bidding prices for various projects ranged from 0.74 yuan/W to 0.978 yuan/W. As upstream component prices continued to decline, component bidding prices also followed suit. In April, the average bid price for P-type components had dropped to 0.82 yuan/W, a 12% drop from December 2023. In addition, there was a significant decrease in demand for P-type components, and there were no P-type component centralized procurement projects opened in May and June.
Figure: Trend of monthly P-type component bid prices from 2023 to June 2024 (yuan/W)
![](https://postimg.futunn.com/news-editor-imgs/20240705/public/17201596211537916676971.png)
At present, N-type TOPCon components are the main source of demand for bidding projects. In H1 2024, there were about 111GW N-type TOPCon component project centralized bidding openings, and the bid prices for various projects ranged from 1.18 yuan/W to 0.75 yuan/W. Looking at it monthly, about 3.35GW of N-type TOPCon component centralized procurement bid openings were held in June, and the bid prices ranged from 0.77 yuan/W to 0.90 yuan/W, with an average bid price of 0.811 yuan/W, a month-over-month decrease of 1.34%. Among them, on June 5th, GD Power Development Inner Mongolia Western Energy Erdos Mining Subsidence Area 3000MW photovoltaic project held the third batch of photovoltaic component procurement tender opening, with 20 enterprises participating in the bidding and the bidding prices ranging from 0.789 yuan/W to 0.869 yuan/W, with an average price of 0.823 yuan/W. First-tier enterprises (Jinko, Longi, Tongwei, JA Solar) bid prices ranged from 0.812 yuan/W to 0.862 yuan/W, with an average price of 0.837 yuan/W, while second-tier enterprises bid prices ranged from 0.789 yuan/W to 0.869 yuan/W, with an average price of 0.82 yuan/W. The price difference between bids submitted by first-tier and second-tier enterprises was 0.017 yuan/W. Among them, 5 companies had single-watt bid prices below 0.8 yuan, all submitted by second-tier enterprises.
Figure: Trend of N-type TOPCon component bid prices from May to June 2024, in yuan/W
![](https://postimg.futunn.com/news-editor-imgs/20240705/public/17201596353117223933735.png)
According to the bidding results (including shortlisted candidates), the scale of winning bids and shortlisted candidates has reached 161.5GW in H1 2024, including a defined scale of 101.7GW and a first shortlisted candidate scale of 59.8GW. Among the component winning bids (including defined and first shortlisted candidates), the winning scale of first-tier enterprises such as Jinko, Longi, Tongwei, and JA Solar reached 64.7GW, accounting for 40%; The winning scale of Top10 component companies (Jinko, Longi, Tongwei, JA Solar, Trina Solar, Risen Energy, ATES, Chint New Energy) reached 81.2GW, accounting for 50%.
Figure: Domestic photovoltaic component bidding procurement winning bid scale in H1 2024, in MW
![](https://postimg.futunn.com/news-editor-imgs/20240705/public/17201596422767911076343.png)