SNEC 2024 Wrap Up and Highlights

Recognized as one of the world's leading events for the photovoltaic industry and storage technology, the event started on the 11th June in Shanghai ahead of the world's largest solar exhibition, which began on the 13th June. Top managers from the Chinese industry, political dignitaries from Beijing, and representatives from various Asian and global countries gathered to discuss the future of the sector.

The conference served as a platform where representatives from industry, applied research, and politics discussed the current status of the sector, new technological developments, and current challenges. The Conference welcomed over 5000 attendees and presented numerous talks, panels and discussions on the energy industry. Topics such as green production and new approaches to sustainability criteria were particularly in focus. These issues were of central importance as the industry strived to develop and implement more environmentally friendly and sustainable production methods.

A special highlight of the conference was the presentation of expanded services for quality assurance and trust-building by VDE. This neutral technology organization, active in Asia, Europe, and the USA, presented its latest structures and offerings to support and ensure the high-quality standards of the industry. This year VDE Renewables was joined by CAICT and RETC at their booth, showcasing a one-stop-shop for laboratory testing, quality assurance and advisory services, for the cleantech sector.

The SNEC 2024 promised to provide significant impetus for the further development of the photovoltaic and storage sector and to promote sustainable innovations. With the presence of leading figures from industry and politics, the event set a strong signal for the future of renewable energies and sustainable technologies.

Burkhard Holder, VDE’s Director of Trends and Innovation opened the event as chairman of the Global Green Energy & PV Financial Summit, now in its 12th year. In his opening address, he mentioned that the international market is currently experiencing significant over capacities of PV modules and increasing price pressures in the ESS sector due to heightened competitiveness. Despite these challenges, maintaining customer satisfaction and product quality remains a top priority. That is why the VDE Group, in collaboration with industry recommendations, has developed additional criteria for factory audits to exceed existing standards and ensure bankability and insurability.

He went on to explain that the recent enforcement of the EU Supply Chain Act has become a critical topic, aligning with ongoing efforts to enhance quality and supply chain integrity. Over the past 13 years, the summit platform has emphasized the importance of including the financial and insurance sectors in discussions. This year’s focus included green investment responsibilities, integrating financial technology with green finance, and promoting ESG and green transformation of financial institutions.

Acknowledgments were given to the Asian Photovoltaic Industry Association (APVIA) and key individuals like Madame Mi, Mrs. Xinzuan Zhu, and Mrs. Qun Wang for their longstanding cooperation. The collaboration continues to build business bridges for fair trade and reduce unnecessary barriers, emphasizing global thinking and local action, and the ultimate goal to ensure non-discriminatory energy access for all.

The PV Financial Summit in Shanghai brought together key stakeholders from the solar industry, financial and insurance sectors, and market analysts for dynamic discussions on the current market situation and industry challenges. VDE played a significant role in preparing the event's content and provided the Chairman. Experts focused on green production, exploring ideas to accelerate dual carbon goals, and ensuring product quality and supply chain trust.

A concluding panel highlighted issues like overcapacity and the industry's financial struggles, with calls for clear guidelines from the financial sector and the Chinese government to reduce production capacity. Experts predicted a 40% decline in Chinese manufacturers within the next year, but also anticipated a balanced market by 2025-2026.

Despite financial difficulties, leading manufacturers committed to quality, standards, and international green production criteria. VDE and DNV, supported by Munich RE, advocated for enhanced neutral monitoring and regular audits of production facilities to improve bankability and insurability.

The Financial Summit continues to set new directions for the Cleantech sector, laying a foundation to capitalize on green financing opportunities and elevate the global green energy sector.