The rise of the space solar concept is no accident. Recent remarks by Elon Musk at the 2026 World Economic Forum in Davos directly propelled the space photovoltaic concept to emerge from the broader commercial aerospace sector, establishing it as the strongest segment within that industry at this stage. Furthermore, the leading trend within the space solar concept is exceptionally clear. The perovskite direction, represented by stocks such as Hainan Drinda New Energy Technology Co.,Ltd. (002865), Suzhou Maxwell Technologies Co.,Ltd. (300751), Mingyang Smart Energy (601615), Jensen (300724), Shanghai Harbour (605598), Topray Solar (002218), and EGing Photovoltaic Technology (600537), is undoubtedly the primary target for capital inflows as the optimal solution for commercializing space photovoltaics. As a promoter and leader in China's perovskite photovoltaic industry, Renshine Energy has conducted collaborative experiments with the Swansea University laboratory, funded by the European Space Agency, on the space application of all-perovskite tandem cells. It also boasts the world's first 10MW pilot R&D line for all-perovskite tandem cells! On Friday, January 23, according to a post on Renshine Energy's official social media account, to promote the practical application of flexible tandem perovskite technology in space photovoltaics, the company is undertaking the 2025 Jiangsu Provincial Major Science and Technology Project titled "Key Technology R&D for High-Efficiency Flexible Perovskite Tandem Photovoltaic Modules for Multi-Scenario Applications." In fact, bolstered by the critical factor of its stake in Renshine Energy, the stock price of Suzhou Maxwell Technologies Co.,Ltd. (300751) has nearly tripled since the beginning of December last year.
This week's biggest highlight in the A-share market was undoubtedly the gradual recovery of the commercial aerospace sector. Particularly during the last two trading sessions, a wave of limit-up gains in commercial aerospace stocks once again captured the attention of A-share investors. The sector even reached another peak of market sentiment on Friday, with approximately 60 stocks hitting the daily limit-up and over 80 commercial aerospace concept stocks rising by the 10% limit or more! A more prominent sign of this new round of explosive growth in the commercial aerospace sector is the emergence of the space solar concept. Looking at Friday's A-share market gainers list, nearly 40 space solar concept stocks, including Hainan Drinda New Energy Technology Co.,Ltd. (002865), GCL Optoelectronics (300102), Risen Energy (300118), Suzhou Maxwell Technologies Co.,Ltd. (300751), Mingyang Smart Energy (601615), Jensen (300724), EGing Photovoltaic Technology (600537), Topray Solar (002218), GCL System Integration (002506), China Spacesat (600118), Jinko Solar (688223), Rayitek (688323), Shanghai Harbour (605598), SVT (603212), Wogene (603773), LONGi Green Energy Technology (601012), Jinchen (603396), Laplace (688726), Hangzhou First (603806), Almaden (002623), Triumph Technology (600552), Opt (920414), Linton (920368), Lushan New Materials (603051), Liens (300051), and Aomi (300861), saw their stock prices hit the daily limit-up! Evidently, from the total number of limit-up stocks in the commercial aerospace sector on Friday, space solar concept stocks accounted for more than half. The rise of the space solar concept is not coincidental. Elon Musk recently announced at the 2026 Davos Forum that SpaceX and Tesla Motors plan to achieve an annual solar manufacturing capacity of 200GW in the United States within three years, of which 40GW will be adapted for space photovoltaic needs to support their ambitious space AI data center and low-earth orbit satellite constellation plans. Clearly, Musk's remarks at the Davos Forum directly triggered the space photovoltaic concept's breakout from the commercial aerospace sector, making it the strongest branch at this stage! Moreover, the leading trend within the space solar concept is exceptionally clear. The perovskite direction, represented by stocks such as Hainan Drinda New Energy Technology Co.,Ltd. (002865), Suzhou Maxwell Technologies Co.,Ltd. (300751), Mingyang Smart Energy (601615), Jensen (300724), Shanghai Harbour (605598), Topray Solar (002218), EGing Photovoltaic Technology (600537), SVT (603212), Jinko Solar (688223), and Almaden (002623), is undoubtedly the primary target for capital inflows as the optimal solution for commercializing space photovoltaics. Also on Friday, Suzhou Maxwell Technologies Co.,Ltd. (300751), which also holds a stake in Renshine Energy, surged to a limit-up shortly after the market opened. Its stock price has nearly tripled since early December last year. After all, companies that have practically applied perovskite technology in space photovoltaics in a true sense are currently few and far between. Besides Hainan Drinda New Energy Technology Co.,Ltd. (002865), Renshine Energy is the most capable enterprise in this field.
Elon Musk ignites the trillion-yuan space solar track: As the "energy heart" of commercial aerospace, space photovoltaics are on the countdown to industrialization! Perovskite has firmly established itself as the optimal solution for the commercialization of space solar, thus理所当然地 becoming the leading trend within the space solar concept.
Following Elon Musk's significant recent statement at the Davos Forum regarding "space photovoltaics as the ultimate solution for AI computing power energy consumption," coupled with the sharp decline in Starship launch costs and the accelerated deployment of low-earth orbit satellite constellations domestically and internationally, this cross-border golden track combining "photovoltaics + commercial aerospace + communications" is transitioning from concept to tangible implementation.
Elon Musk recently announced at the 2026 Davos Forum that SpaceX and Tesla Motors plan to achieve an annual solar manufacturing capacity of 200GW in the United States within three years, of which 40GW will be adapted for space photovoltaic needs to support their ambitious space AI data center and low-earth orbit satellite constellation plans.
Musk explicitly set a goal of "8,000 launches per year" to advance the deployment of a space photovoltaic AI satellite network, igniting global attention on this全新的赛道.
He stated that by 2026, Starship would achieve full reusability, premised on 8,000 annual launches, to pave the way for space data centers and lunar bases, achieving a 100-fold cost reduction to less than $100 per pound. Then, in the following years, large-scale launches of solar AI satellites would be conducted to achieve energy freedom.
Once Musk outlined this blueprint, it rapidly gained global traction, sparking immense speculation about the potential of the "space photovoltaic" industry.
If 100GW of solar AI satellite capacity were deployed annually, the scale would be equivalent to a quarter of the current total U.S. electricity demand, sufficient to support the computational power consumption of over 1 billion servers.
Assuming each satellite is equipped with approximately 100 kilowatts of flexible perovskite/tandem solar cell arrays, integrated with AI computing modules, and building distributed space data centers through laser links.
Calculated at current battery unit prices of 100-150 yuan/W and module + system costs of 120-180 yuan/W, the direct market space catalyzed by space photovoltaics (including batteries + modules + systems) alone is as high as approximately 1.2-1.8 trillion yuan. Including launch and ground reception, the entire upstream and downstream industry chain could reach 3-5 trillion yuan. Over the next 5-10 years, as technology matures and costs decline, and with major global economies joining the competition, the market will further expand, potentially冲击 a ten-trillion-yuan market by 2035.
This is the current logic driving capital markets. Therefore, the exposure of Musk's blueprint迅速催生了 the爆发 of the "space solar"行情! Clearly, the reason Musk's remarks could instantly ignite the market lies in their unprecedented "quantification" and "scenario-setting" of space photovoltaic demand. The annual 100GW capacity target sets a staggering scale expectation for an industry still in its infancy.
In fact, this is not mere speculation; SpaceX's already deployed Starlink network of nearly ten thousand satellites itself represents a vast and growing存量 market requiring regular energy system replacements.
For the A-share market, it is clear that Musk's remarks at the Davos Forum directly triggered the space photovoltaic concept's breakout from the commercial aerospace sector, making it the strongest branch at this stage!
After all, the competition in space solar is a复合竞争 concerning energy, computing power, and spatial dominance. The enthusiastic reaction in the A-share market represents a historic collision between China's powerful photovoltaic industry system and emerging commercial aerospace demand.
*China Securities Journal* believes that China's commercial aerospace industry has recently achieved milestone successes in key areas such as breakthroughs in reusable rocket technology and the accelerated advancement of large constellation networking. The红利 released by the industry's vigorous development are driving the rapid growth of this新兴赛道 of space photovoltaics.
Industry insiders indicate that the rapid development of the commercial aerospace industry provides broad application scenarios for space photovoltaics. As technology gradually matures and channels continue to improve, space photovoltaics are expected to become another growth blue ocean following ground-based photovoltaics. Companies across the industry chain will encounter differentiated development opportunities, with long-term investment value gradually becoming apparent.
Indeed, as low-earth orbit satellite constellations enter a period of密集组网, space photovoltaics have become the core lifeline supporting continuous satellite operation. Domestic companies are establishing unique advantages in the global race凭借技术壁垒.
Clearly, the core logic of "space solar" is rooted in the energy demand leap driven by the functional升级 of commercial aerospace. As satellite functions evolve from simple communication to AI computing and space data centers, the demand for energy power will increase by more than tenfold. Currently, with over 100,000 satellites filed globally and domestic orbital resource applications exceeding 200,000, space photovoltaic demand is迎来爆发期. From raw materials to end products, domestic companies have built an industry chain with deep technical barriers. The协同发力 of环节 "uniqueness" leaders not only strengthens the energy foundation of commercial aerospace but also opens up dual imaginative spaces for investors regarding technological iteration and demand growth.
In the future, "space photovoltaics" will no longer be mere "supporting components" for satellites but will become the core lifeline关乎 the落地 of commercial aerospace scenarios!
Currently, the space photovoltaic field is characterized by the parallel development of three generations of technological routes: First-generation gallium arsenide offers efficiency greater than 30% and high reliability but is expensive. Second-generation crystalline silicon HJT has relatively lower costs and has achieved small-scale shipments.
The technology truly poised to撬动 industry transformation, with greater commercial potential, is perovskite and perovskite/crystalline silicon tandem cells.
Space photovoltaic applications favor perovskite primarily because it combines ultra-high photoelectric conversion efficiency, lightweight properties, and flexibility, perfectly adapting to the extreme conditions of space and the stringent requirements of satellite payloads. Perovskite cells also exhibit high radiation resistance and excellent weak-light power generation performance. Empirical data shows that under 200W/m² irradiation, the weak-light power generation efficiency of perovskite reaches 128% that of crystalline silicon, and power generation in high-temperature environments can be 20%-30% higher.
Thus, the advantages of perovskite are evident: besides high conversion efficiency, they include being lightweight, flexible, easy to tandem, low raw material cost, and strong weak-light conversion capability, significantly broadening the application scenarios and imaginative potential of solar cells.
The most exciting aspect of perovskite is that it breaks the curse that "new technology industrialization must be slow." By 2025, this once lab-bound material stands on the threshold of GW-level mass production. Currently, domestic and international research institutions and companies are加速攻克 the challenge of perovskite stability in the space environment, rapidly moving towards commercial application.
The爆发 of perovskite is not a single-point breakthrough but a重构 of the entire energy industry chain. In the space race, it will promote an integrated business model of "satellite energy - computing power services": an AI satellite equipped with perovskite cells is both an energy producer and a computing power provider, capable of directly offering low-latency services to ground terminals. This model could allow "Starlink + AI computing power" to form a closed loop, thereby重构 the global communication and computing power landscape.
Thus, the construction of low-earth orbit constellations and the demand for space computing power are driving the space photovoltaic market into a period of高速增长. Perovskite,凭借 dual advantages in technology and cost, is becoming the core technological route for the medium to long term. As perovskite solidifies its position as the optimal solution for commercializing space solar, it理所当然地 becomes the leading trend within the space solar concept!
This past Friday, Elon Musk's recent remarks at the Davos Forum directly triggered the space photovoltaic concept's breakout from the commercial aerospace sector, making it the strongest branch at this stage! Moreover, the leading trend within the space solar concept is exceptionally clear. The perovskite direction, represented by stocks such as Hainan Drinda New Energy Technology Co.,Ltd. (002865), Suzhou Maxwell Technologies Co.,Ltd. (300751), Mingyang Smart Energy (601615), Jensen (300724), Shanghai Harbour (605598), Topray Solar (002218), EGing Photovoltaic Technology (600537), SVT (603212), Jinko Solar (688223), and Almaden (002623), is undoubtedly the primary target for capital inflows as the optimal solution for commercializing space photovoltaics.
Notably, the stock price movement of Suzhou Maxwell Technologies Co.,Ltd. (300751), as a typical representative of the space solar perovskite route, is highly significant for reference. Renshine Energy (Suzhou) Co., Ltd., in which Suzhou Maxwell Technologies Co.,Ltd. holds a stake, is a promoter and leader in China's perovskite photovoltaic industry and a frontrunner in the domestic space photovoltaic field. Bolstered by the critical factor of its stake in Renshine Energy, the stock price of Suzhou Maxwell Technologies Co.,Ltd. (300751) has nearly tripled since the beginning of December last year.
It is reported that Renshine Energy, in which Huapei Power has invested significantly, is a global leader in the space photovoltaic field. As a promoter and leader in China's perovskite photovoltaic industry, Renshine Energy has conducted collaborative experiments with the Swansea University laboratory, funded by the European Space Agency, on the space application of all-perovskite tandem cells and boasts the world's first 10MW pilot R&D line for all-perovskite tandem cells.
As mentioned earlier, the rise of the space solar concept is no accident. Recent remarks by Elon Musk at the 2026 World Economic Forum in Davos directly propelled the space photovoltaic concept to emerge from the broader commercial aerospace sector, establishing it as the strongest segment within that industry at this stage!
Of course, companies that have practically applied perovskite technology in space photovoltaics in a true sense are currently few and far between. Besides Hainan Drinda New Energy Technology Co.,Ltd. (002865), the most capable enterprises in this field are Suzhou Maxwell Technologies Co.,Ltd. (300751) and Renshine Energy (Suzhou) Co., Ltd. (hereinafter referred to as "Renshine Energy").
On Friday, January 23, according to a post on Renshine Energy's official social media account, to promote the practical application of flexible tandem perovskite technology in space photovoltaics, Renshine Energy is undertaking the 2025 Jiangsu Provincial Major Science and Technology Project titled "Key Technology R&D for High-Efficiency Flexible Perovskite Tandem Photovoltaic Modules for Multi-Scenario Applications." Renshine Energy's square-meter-scale commercial flexible perovskite single-junction size modules have achieved a conversion efficiency of over 18%, while large-area all-perovskite tandem modules have achieved over 23% efficiency, providing strong support for future large-scale space applications of perovskite.
On January 8, 2026, Renshine Energy专门发布文章解读 the exploration the company has already conducted regarding perovskite space applications, as well as the competitive advantages of its core technology—all-perovskite tandem solar cells—in space photovoltaics.
Renshine Energy (Suzhou) Co., Ltd. was established in December 2021, founded by Professor Tan Hairen of Nanjing University. It focuses on the R&D and industrialization of perovskite photovoltaic technology, is a leading global enterprise in this field, and has continuously刷新ed world records for perovskite module efficiency.
Since its establishment, Renshine Energy has consistently been committed to promoting the industrialization of perovskite photovoltaics. Through continuous R&D investment, the company has established an R&D center, successfully formed the "Gusu Major Innovation Team," has刷新ed world records for the photoelectric conversion efficiency of perovskite photovoltaic cells 11 times, seen its core technology selected for "China's Top 10 Scientific Advances," undertaken national major science and technology projects, applied for and obtained over a hundred core patents, and built solid technical barriers.
With strong support from the Nanjing municipal government, Renshine Energy established the nation's first professional industrial research institute focused on perovskite technology—the Jiangsu Perovskite Industrial Technology Research Institute. Using Jiangsu Renshine Photovoltaic Technology Co., Ltd. as the vehicle and relying on the Nanjing University-Renshine Energy University-Enterprise Joint Laboratory and the Renshine Energy large-scale mass production base, the institute focuses on the R&D and production of perovskite photovoltaic technology. With the core mission of "gathering talent, leading research,孵化成果, and serving industry," it systematically builds five strategic platforms to create a collaborative innovation ecosystem integrating research, industry, and talent, primarily for industrial application.
All-perovskite tandem photovoltaic technology is one of Renshine Energy's core technologies. In 2022, it was selected for the Ministry of Science and Technology's "China's Top 10 Scientific Advances." The company holds over 150 related core patents.
Renshine Energy's perovskite products demonstrate stable output without衰减, and have successively obtained certification or permits from Germany's TÜV Rheinland, China Quality Certification Center (CQC), U.S. UL, and Japan's JP-AC. Regarding outdoor empirical data, both Renshine Energy's and third-party industry MW-scale demonstration project data show that perovskite modules exhibit基本无衰减 after over a year of outdoor operation, indicating that Renshine Energy's perovskite modules already possess the capability to compete with mainstream crystalline silicon in terms of power output in actual outdoor application scenarios.
In terms of industrialization, Renshine Energy's square-meter-scale commercial perovskite modules have achieved a world-leading conversion efficiency of 19.8%, receiving strict certification from the U.S. National Renewable Energy Laboratory (NREL) and Germany's TÜV Rheinland. The products rank among the industry leaders in key indicators such as reliability and adaptability to complex environments. Sales channels already cover domestic and international markets, and several megawatt-scale perovskite photovoltaic demonstration power plant projects have been successfully delivered and are in use.
Currently, Renshine Energy has established an industrial process system centered on industrialized single-junction perovskite, supplemented by perovskite-silicon tandem, all-perovskite tandem, and flexible perovskite. Its product portfolio includes single-junction standard modules and four-terminal perovskite-silicon standard modules. Renshine Energy has also developed products tailored to specific application scenarios, such as photovoltaic tiles, photovoltaic paving stones, photovoltaic fences, photovoltaic curtain walls, and flexible outdoor power sources, highlighting product competitiveness in differentiated scenarios.
Renshine Energy stated that starting in 2024, the company has collaborated with domestic and international research institutions to conduct in-depth research on the application of perovskite in the space field.
For example, Renshine Energy has conducted collaborative experiments with the Swansea University laboratory, funded by the European Space Agency, on the space application of all-perovskite tandem cells, primarily testing the performance of perovskite modules in thermal cycling and resistance to ion irradiation.
Relevant results were published in July 2025 in *Applied Physics Letters*, in a paper titled "High performance rigid and flexible tandem perovskite photovoltaics under mimic high-altitude platform satellite environments." The research showed that all-perovskite tandem cells on glass substrates and flexible substrates both exhibited good environmental adaptability and reliability under the experimental conditions simulating high-altitude platform satellite environments.
Renshine Energy stated that solar energy is the only perpetual energy source in space. Artificial space energy systems based mainly on gallium arsenide and traditional crystalline silicon face development bottlenecks. In the future, all-perovskite tandem technology will become the dominant solution for space energy.
Currently, Renshine Energy owns the world's first 10MW pilot R&D line for all-perovskite tandem cells and operates the world's first large-area all-perovskite tandem module outdoor power station, which has been running stably for over a year. The conversion efficiency of Renshine Energy's all-perovskite tandem cells has exceeded 30.1%, and the efficiency of flexible all-perovskite tandem cells has reached 27.5%.
Renshine Energy stated that in the future, the company will further increase R&D investment. On one hand, it will accelerate the pace of space field testing; on the other hand, based on the existing pilot line, it will accelerate the optimization and implementation of mass production process solutions for square-meter-scale all-perovskite tandem cells, pushing all-perovskite tandem photovoltaics into the space aerospace field with a rhythm of "usable, functional, and comprehensively usable."
In summary, as a core technology颠覆 space energy supply, the strength of perovskite technology is绝非空谈. Renshine Energy's core advantages are reflected in four major dimensions, each supported by solid data.
First, the intrinsic material advantages are irreplaceable. Perovskite materials inherently possess lightweight and flexible characteristics,适配 the core requirement of strictly limited space payloads. Renshine Energy data shows that the specific power of all-perovskite tandem modules can reach up to 50W/g, far exceeding the 3.8W/g of traditional gallium arsenide cells and the 0.38W/g of crystalline silicon cells. Under the same power, their weight is only 1/10 that of gallium arsenide modules, significantly reducing the deployed area of satellite solar arrays and reserving more precious payload space for critical components like communication and detection systems.
Second, tandem technology突破 the efficiency ceiling, and Renshine Energy continuously刷新es technical records. The conversion efficiency of Renshine Energy's all-perovskite tandem cells has exceeded 30.1%, with the flexible version reaching 27.5%. The company has刷新ed world records in this field 8 consecutive times, far exceeding the efficiency limits of traditional space photovoltaic cells.
Third, the adaptability to extreme space environments is过硬, which is the core门槛 for space applications. As early as 2024, Renshine Energy collaborated with the Swansea University laboratory, funded by the European Space Agency, to complete specialized tests on the thermal cycling and ion irradiation resistance of all-perovskite tandem cells. Both rigid and flexible substrate modules demonstrated excellent reliability. Relevant results have been published in internationally authoritative journals, confirming their ability to withstand the temperature variations from -170°C to +120°C and strong radiation environments of space.
Fourth, as a leading enterprise in the perovskite segment of the space photovoltaic field, Renshine Energy possesses深厚的 technical积淀. It owns the world's first 10MW all-perovskite tandem pilot R&D line, holds over 150 core patents, and has solid technical barriers. Renshine Energy wins through technical barriers, leads globally in all-perovskite tandem technology, has completed internationally authoritative space environment tests, and holds a vast number of core patents, making it a core representative of perovskite technological breakthroughs in the global space photovoltaic field.
Thus, Renshine Energy (Suzhou) Co., Ltd., as a promoter and leader in China's perovskite photovoltaic industry, has理所当然地 become a global frontrunner in the space photovoltaic field! Bolstered by the critical factor of its stake in Renshine Energy, the stock price of Suzhou Maxwell Technologies Co.,Ltd. (300751) has nearly tripled since the beginning of December last year.
Public information shows that the company holds a 1.64393% equity stake in Renshine Energy (Suzhou) Co., Ltd. through Suzhou Chuangxing Zhongke Venture Capital Partnership. As a major initiator, the company holds a 17.24% stake in Suzhou Chuangxing Zhongke Venture Capital Partnership.
In summary, Renshine Energy is a global leader in the space photovoltaic field. As a promoter and leader in China's perovskite photovoltaic industry, Renshine Energy has conducted collaborative experiments with the Swansea University laboratory, funded by the European Space Agency, on the space application of all-perovskite tandem cells and boasts the world's first 10MW pilot R&D line for all-perovskite tandem cells! Bolstered by the critical factor of its stake in Renshine Energy, the stock price of Suzhou Maxwell Technologies Co.,Ltd. (300751) has nearly tripled since the beginning of December last year.
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