Numerous listed companies have been actively issuing statements on investor interaction platforms regarding their involvement in space photovoltaics. On January 23rd, the concept of "space photovoltaics" ignited the market, leading to a broad-based rally in the photovoltaic sector. By the market close, the Wind Space Photovoltaic Index (88419929) surged 9.69%, with nearly 50 stocks hitting the daily limit-up or rising over 10%. Among them, Yujing Co., Ltd. (002943.SZ) achieved three limit-ups in six days, while Junda Co., Ltd. (002865.SZ) and Mingyang Smart Energy (601615.SH) secured two consecutive limit-ups. The heavyweight stock LONGi Green Energy Technology (601012.SH), with a market cap nearing 150 billion, also hit the limit-up. Companies like Jinko Solar (688223.SH), Mayer (300751.SZ), and Jingjiawei (300724.SZ) surged by the 20% daily limit. What exactly is space photovoltaics? Space photovoltaic energy refers to the utilization of solar photovoltaic technology in extraterrestrial environments such as space orbit or the moon to capture and supply energy. This energy is then wirelessly transmitted directly to Earth or used to power facilities like satellites, space stations, and space data centers. On January 22nd, Tesla CEO Elon Musk stated at Davos that establishing solar-powered AI data centers in space is a logical step. "SpaceX and Tesla are simultaneously advancing solar capacity expansion, targeting an annual solar manufacturing capability of 100GW within the next three years." Prior to this, a series of high-profile statements by Tesla CEO Elon Musk regarding "space photovoltaics" have intensified market attention on the sector. Shortly after the beginning of 2026, Musk stated in a public interview that "solar power is the only answer for humanity's energy freedom." He then outlined a "three-step" plan. The first step involves using Tesla Megapack batteries to store excess nighttime power from plants, potentially doubling existing grid efficiency. The second step entails launching solar-powered AI satellites into space to maximize solar energy utilization by leveraging 24-hour sunlight, estimated to require 8,000 launches per year for deployment. The third step involves establishing satellite factories on the moon, manufacturing satellites using local materials and placing them into orbit to achieve larger-scale solar energy capture, which he views as a true upgrade for human civilization. In the second half of last year, Musk also indicated plans to deploy 100GW of solar-powered AI satellites annually in the future, a scale comparable to a quarter of the United States' total electricity generation. An executive from a domestic perovskite-focused photovoltaic company explained that the abundant solar resources in space and the feasibility of deploying photovoltaic modules on satellites make space photovoltaics the primary choice for satellite power. "Low Earth Orbit satellites can orbit the Earth every 90 minutes, with sunlight exposure exceeding 60% of the time. Furthermore, outer space avoids atmospheric interference, resulting in light intensity approximately 30% higher per square meter than on Earth." These listed companies have issued statements. According to a review, numerous listed companies have been actively issuing statements on investor interaction platforms regarding their involvement in space photovoltaics. Trina Solar (688599.SH) stated on the platform that the company has established long-term, comprehensive layouts in three key directions related to space photovoltaics: crystalline silicon cells, perovskite tandem cells, and III-V gallium arsenide multi-junction cells, and has achieved leading R&D results. In terms of commercial application promotion, based on these leading achievements, the company closely collaborates with domestic aerospace research institutes and enterprises, as well as with leading overseas aerospace agencies, accumulating substantial practical experience in space-based solar power. The company's chairman, Gao Jifan, also publicly stated in his New Year outlook that in 2026, the company will accelerate the mass production and commercialization of perovskite technology, ushering in a new era for space photovoltaics and interstellar computing power. Canadian Solar (688472.SH) stated that space photovoltaics has broad development prospects, and the company will continuously monitor opportunities in the commercial aerospace market. "Beyond the TOPCon cell technology already in mass production, the company also has technical reserves in photovoltaic cell technologies such as HJT and perovskite tandems, and possesses experience in the batch production and delivery of HJT products." Auto (688516.SH) stated that the company is highly focused on the manufacturing equipment required for space photovoltaic products. Currently, its equipment is primarily applied to ground-based photovoltaics, but it also has heterojunction efficiency-enhancing equipment that can be applied to space photovoltaic technology routes, and the company is actively exploring more space photovoltaic equipment. Lushan New Materials (603051.SH) stated that in the field of space photovoltaics, the company has been deeply involved for many years, specifically proposing three encapsulation solutions for different applications and having applied for multiple technical patents in this area. "In the future, the company will continue to develop and strengthen its space photovoltaic film encapsulation technology to align with the national aerospace strategy development needs." Hymson (688559.SH) stated that the company has been deeply involved in R&D related to perovskite tandem cell technology in collaboration with leading photovoltaic cell and module manufacturers. This technology is expected to continuously increase photoelectric conversion efficiency and the watt-to-gram ratio (w/g), and related cells are anticipated to be used for power generation on low-orbit satellites and space computing applications. Jolywood (300393.SZ) stated on the investor interaction platform that the company has backsheet products undergoing development and experimentation for adaptation to space photovoltaic module encapsulation, while its perovskite-crystalline silicon tandem products are also under development. Jingsheng Mechanical & Electrical (300316.SZ) stated that its business covers key equipment across the entire photovoltaic industry chain, core consumables, and overall smart factory solutions. "The company will continue to deepen its main business, strengthen technological innovation, and actively monitor emerging technological directions, including space photovoltaics, to continuously expand the boundaries of technology application." Perhaps buoyed by Musk's public endorsement, it was noted that recently, multiple brokerages have intensively issued research reports stating that space photovoltaics has become a strategic frontier solution for commercial aerospace and high-end applications, with promising future market prospects. There is also an industry view that the inaugural year for space photovoltaics is approaching. "As ground power grids cannot be accessed in the space environment, and the cost of traditional fossil fuel supply is extremely high, photovoltaics become the only efficient long-term energy supply form for space computing satellites," analyzed a CITIC Securities research report. From an energy supply efficiency perspective, solar irradiance intensity in space is over 30% higher than on the ground, which can significantly enhance the power generation efficiency of photovoltaic cells. Simultaneously, solar panels can be folded for launch and deployed in orbit, facilitating flexible area expansion based on computing power demands, offering strong adaptability. Furthermore, according to China Securities (CSC) predictions, the market size for photovoltaic applications on Chinese low-orbit satellites will exceed $30 billion by 2030. If deployment enters a phase of 100GW space data centers, the global market size could reach $500-$1000 billion. Essence Securities goes even further, projecting that "the global space photovoltaic market will develop towards a trillion-scale by 2030." However, it was noted that amidst the secondary market frenzy over the "space photovoltaics" concept, a photovoltaic technology expert publicly stated on social media today, "I agree with Musk that 'solar is everything,' but the dream of space photovoltaics still needs time. Everyone should be cautious..." Regarding costs, according to China Securities (CSC) estimates, even under optimistic assumptions, the current levelized cost of electricity (LCOE) for space photovoltaics is approximately $2-3 per kWh, while the LCOE for ground-based photovoltaics has dropped to $0.03-$0.05 per kWh, representing a difference of up to a hundredfold. If future launch costs cannot be reduced to below one-tenth of current levels, and photovoltaic efficiency cannot double, space photovoltaics will struggle to achieve economic viability. According to Galaxy Securities analysis, with the decline in commercial aerospace launch costs and breakthroughs in battery technology, space photovoltaics is expected to gradually commercialize over the next 10-15 years. In the short term, it still faces multiple risks, including fluctuations in raw material prices, international trade frictions, and potential delays in new technology advancements.
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