On January 28, the National Energy Administration released the national electricity statistics for 2025. By the end of 2025, the cumulative installed power generation capacity nationwide reached 3.89 billion kilowatts, representing a year-on-year increase of 16.1%. Among this, solar power installed capacity stood at 1.20 billion kilowatts, up 35.4% year-on-year, while wind power installed capacity reached 640 million kilowatts, rising 22.9% year-on-year. In 2025, the cumulative average utilization hours of power generation equipment in power plants with a capacity of 6,000 kilowatts and above nationwide amounted to 3,119 hours, a decrease of 312 hours compared to the same period last year.
PriceSeek Analysis:
Industrial Silicon – Bull/Bear Score: 2
The article indicates a 35.4% year-on-year increase in solar power installed capacity in 2025. As a key raw material for photovoltaic modules, the demand for industrial silicon is expected to rise significantly, which is favorable for spot price increases. In the futures market, while recent contract prices for industrial silicon have shown volatility, the anticipated surge in demand is expected to support sustained upward movement in futures prices, reinforcing the bullish trend.
Silver – Bull/Bear Score: 2
The substantial 35.4% growth in solar installed capacity boosts the demand for silver (used in conductive pastes) in photovoltaic cells, which is positive for spot prices. Silver futures have already shown an upward trend, and this data will further boost market confidence, driving futures prices higher and reflecting a significant positive impact.
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