The space race is heating up globally, with photovoltaic technology emerging as a core component in this strategic competition. Over the past weekend, both the United States and China announced significant satellite application filings; SpaceX applied for an additional 7,500 second-generation Starlink satellites, while the International Telecommunication Union (ITU) website revealed that China filed applications for 203,000 new satellites. Accelerated satellite deployment raises a critical question: who can reliably power these satellites? Solar energy currently stands as the most ideal solution, offering stability, sustainability, and cost-effectiveness, making it the fundamental energy source for satellite operations. Furthermore, with the explosive growth in AI computing demand, major global economies are actively developing space-based data centers. Given their substantial power requirements, solar energy remains the optimal choice, directly pointing towards the necessity of space-based photovoltaics. As commercial space ventures and space-based computing capabilities continue to advance, space photovoltaics is positioned to be a primary beneficiary, opening up entirely new growth avenues for the solar industry. To help investors capitalize on opportunities within the photovoltaic sector, Fullgoal Fund's Photovoltaic ETF (Subscription Code: 560233, Trading Code: 560230) is scheduled for official launch on January 19 (next Monday). This ETF tracks the CSI Solar Energy Index (Code: 931151), which is currently the most representative index for the photovoltaic industry. It provides comprehensive coverage of the upstream, midstream, and downstream segments of the photovoltaic supply chain, focusing on core industry players to accurately reflect the sector's performance. The index composition includes 50 listed companies primarily engaged in photovoltaic industry activities, with a concentration in firms boasting market capitalizations above 30 billion yuan. These constituents are characterized by strong fundamentals and notable risk resilience. The top ten holdings collectively account for over 50% of the index weight, aggregating leaders from various sub-sectors such as power transmission equipment, photovoltaic modules, and inverters, thereby capturing the essential value chain. Key components include TBEA Co., Ltd., LONGi Green Energy Technology Co., Ltd., and Sungrow Power Supply Co., Ltd. The high quality of the index constituents underpins its long-term growth potential. Historically, the CSI Solar Energy Index has delivered substantial returns. According to Wind data, from its base date (December 31, 2012) to January 13, 2026, the index achieved a cumulative gain exceeding 206%, more than double the 92% return of the CSI 300 Index, a benchmark for core assets. Looking ahead, the growth prospects for photovoltaics remain vast. Even without considering the incremental demand from space applications, the potential for ground-based solar is immense amid a global push for green energy, evidenced by strong growth in photovoltaic installations. The International Energy Agency predicts that global renewable energy generation capacity will double by 2030, with solar photovoltaics contributing nearly 80% of this growth, highlighting enormous potential. China has established a dominant position in the global photovoltaic supply chain, and ongoing policies aimed at curbing internal competition are expected to further optimize the industry structure, potentially allowing Chinese firms to capture a larger share of the expanding market. When factoring in the new opportunities presented by space photovoltaics, the industry's growth trajectory appears even more expansive. Soochow Securities forecasts that by the end of 2025, over 100,000 licensed low-orbit satellites will exist globally. An annual launch rate of 10,000 satellites could generate a market for solar arrays nearing 200 billion yuan. Furthermore, the development of a 10 GW space-based computing system could potentially unlock a solar array market valued in the trillions of yuan, indicating that space photovoltaics might evolve into a trillion-yuan market segment. For investors optimistic about the future development of the photovoltaic industry, the Fullgoal Photovoltaic ETF (Subscription Code: 560233, Trading Code: 560230) may serve as an effective investment tool.
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