The theme of “Space Photovoltaics” continues to gain traction, drawing attention to the Photovoltaic 50 ETF (159864). On January 19, the Photovoltaic 50 ETF (159864) saw an increase of 2.03%.
Recently, the Ministry of Finance and the State Administration of Taxation announced adjustments to the export tax rebate policy for photovoltaic products. Starting from April 1, 2026, the value-added tax export rebate for photovoltaic products will be eliminated. In the short term, this change is expected to lead to a rapid increase in the overseas export volume of photovoltaic modules, restoring industry demand. The cancellation of the export rebate will directly raise the costs for photovoltaic companies exporting their products, prompting overseas companies to quickly increase their order demands during this window period, potentially boosting short-term industry demand.
In the long term, the pace of eliminating outdated production capacity may accelerate, leading the industry to place greater emphasis on brand building and technological innovation. High-efficiency modules such as BC and TOPCon 3.0 are expected to command higher premiums. Leading companies, leveraging their brand and technological advantages, may further expand their market share, improving the overall industry landscape.
Moreover, the “Space Photovoltaics” theme continues to heat up, prompting a reassessment of industry valuations. The global number of satellite launches has increased exponentially, leading to a surge in demand for GW-level space photovoltaics. Photovoltaic technology can directly convert solar energy into electricity, offering core advantages such as sustainability, stability, and lightweight characteristics, making it ideally suited to meet energy demands in extreme space environments. SpaceX has confirmed the P-type HJT battery technology route as the pathway for the large-scale economic production of space solar cells. Space photovoltaic energy may become a strategic frontier solution for commercial space ventures and high-end applications, marking a pivotal moment for the sector.
The Photovoltaic 50 ETF (159864) tracks the photovoltaic industry index (931151), which focuses on upstream and downstream companies within the photovoltaic supply chain, including silicon materials, wafers, solar cells, modules, and photovoltaic equipment. This index reflects the overall performance of publicly listed companies in China’s photovoltaic industry and is characterized by significant growth potential and volatility. Interested investors may wish to keep a close watch.
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