Interview

HY Solar Forecasts 72-80 GW European PV Growth for 2024, Details Vertical Integration Strategy

Julia Pohl, Director Research Operations at EUPD Group, speaks with Tony Hu, Sales Director Europe at HY Solar, during The smarter E Europe 2025. They discuss HY Solar's optimistic outlook on the European solar market, projecting significant growth, and outline the company's vertically integrated product strategy and expansion into project development.

Interviewer · EUPD Group
Julia Pohl
Director Research Operations · EUPD Group
Guest · HY Solar
Tony Hu
Sales Director Europe · HY Solar
Filmed ·Munich·Runtime 05:37Interview ·
Interview
The smarter E Europe 2025 · Munich
05:37
Filmed on site · No editorial direction beyond question set · Captions auto-generated, reviewed by EUPD Group

Key takeaways

4 points · 05:37 video
  1. Strong European Market Growth Projected
    Tony Hu projects 72-80 gigawatts (GW) of DC solar installations for Europe in 2024, with continued growth expected to reach 80-90 GW in 2025. This expansion is driven by national energy transition targets and supportive financial incentives across various countries.
  2. Vertically Integrated Production Model
    HY Solar operates as a vertically integrated manufacturer, managing the entire production process from polysilicon to finished modules in-house. This approach allows the company to produce low-carbon products that serve residential, C&I, and utility segments.
  3. Financial Stability as a Differentiator
    Amidst market challenges, HY Solar emphasizes its robust financial stability, citing a debt ratio below 60%. Tony Hu notes this offers assurance for long-term product reliability and quality in the PV market.
  4. Strategic Shift to Project Development
    Beyond panel sales, HY Solar aims to expand its involvement into PV project development in Europe. The company plans to engage in downstream project business to deliver renewable power directly to end-users.

Positive Outlook for European PV Market Growth

Tony Hu, Sales Director Europe at HY Solar, assesses the European PV market as a "domestic growing market," projecting 72-80 gigawatts (GW) of DC installations in 2024. He anticipates further growth to 80-90 GW in 2025, supported by individual country targets for renewable energy adoption. Hu notes that European countries like Germany, France, Italy, and Spain are actively transitioning from traditional energy sources, providing specific targets, tax rebates, and financial support from banks to meet these goals. This creates a positive and expanding market environment.

"And for our understanding in 420 25 to 22, this 30 still growing every year." Hu · 01:14

HY Solar's Vertically Integrated Approach and Product Range

HY Solar positions itself as a vertically integrated manufacturer, managing the entire production process from polysilicon to modules in-house. Tony Hu states this allows the company to produce low-carbon renewable energy products for the European market. The company offers a comprehensive product portfolio suitable for residential, commercial, and utility-scale applications. Hu highlights specific low-carbon products that few manufacturers can achieve, such as panels with a carbon footprint around 350-360 kg CO2e/kW.

"we are the vertical liquid manufacturer. We study with the M ds silicon. Mm-hmm. Policy silicon there in module oil inhouse production." Hu · 02:24

Strategic Focus and Future Expansion in Europe

HY Solar is concentrating its market efforts on key European countries, including Germany, France, Italy, and Poland. Tony Hu indicates the strategy involves working with local partners and deploying local personnel to support clients in these regions. Looking ahead, HY Solar aims to expand its involvement beyond module sales into PV project development. Hu explains the company intends to engage in the "downstream sites" or "project business" to deliver renewable power directly to end-users.

"we want to achieve also growing with, uh, some project developers, as I mentioned just now that we want to evolve some project business." Hu · 04:52

Chapters

Chapters · click to jump
00:09
Introduction to the Interview and Guest
Julia Pohl introduces the interview at The smarter E Europe with Tony Hu from HY Solar.
00:29
European PV Market Forecast and Support Mechanisms
Tony Hu shares HY Solar's positive forecast for the European PV market, detailing growth projections and supportive policies.
02:07
HY Solar's Differentiated Vertical Integration and Financial Stability
Hu explains HY Solar's vertical integration from silicon to module, emphasizing low-carbon products and financial stability.
03:58
HY Solar's Key European Markets and Project Development Focus
HY Solar outlines its strategic focus on key European markets and its intention to expand into PV project development.
05:20
Closing Remarks
Julia Pohl concludes the interview with Tony Hu.

Interview transcript

Auto-generated · reviewed · ~3 min read
Hi, and welcome everybody. My name is Julia Paul, and I'm the Director of research operations at the EOPD group. We are here at the Smarter E Europe in Munich, and it's day two full of vibrant insights and colorful conversations. I'm very pleased to be joined today by Tony, who, who is the overseas vice president of HYS Sales Center. Yeah. Hello, Tony. Yeah. Nice to you, Julia. Yeah. So today I want to talk to you a little bit about the European solar energy market. Um, in the first step, I would like to understand what's your current, um, opinion of the market? How are you viewing it? Uh, So basically for, for the P market for Europe, Europe, for my personal understanding or I, my understanding, it's really, uh, very good. And I would say mostly, uh, I would say most, uh, important. Mm-hmm. And also very, uh, domestic growing market. Mm-hmm. Like in 2024 for our understanding, it can reach about 72 gigawatts or maybe about eight gigawatts. Right. DC installations. Mm-hmm. And, uh, for our understanding in 420 25 to 22, this 30 still growing every year. So mean 2025 can achieve about 1890 gigawatt. It's not so growing fast, but still is growing. So we think it's very important and, uh, in additional the markets, every country like German, France, Italy, Spain always try to change the energy for the traditional energy to renewable energy. And every country gives the support and they give a specific target to meet this requirement. And, uh, lots of the countries have the tax rebate or, and all the banks give us financial support to achieve this goal. So we think it's very important and growing market. Yeah. Sounds like a very positive outlook and uh, yeah. Course That's what are we thinking? Yeah. And interesting, uh, to see the development there. Yeah. Um, so you mentioned already that you have a positive understanding of the market and the way it's supposed to grow and develop. Yeah. So what is H Y's positioning in the European market? How do you think HY is adding value to it? I will say HY solar, first of all, we are the vertical liquid manufacturer. We study with the M ds silicon. Mm-hmm. Policy silicon there in module oil inhouse production. And we are maybe world fuel, uh, manufacturer food can do the really oil one production capacity, which means we use a traditional energy to produce the renewable energy and with the renewable energy can breed the renewable power to Europe. That's one thing. And another thing is, uh, rich waste solar mm-hmm. Can have a full coverage of product for like that residential, commercial and as utility scale. So we can give, fulfill all, uh, demand of the clients. And uh, with, uh, we also do the very specific, like the low carbon products to fulfill this requirement. So really we can bring the low carbon renewable product energy into the market. Mm-hmm. And, um, uh, another point which I want to emphasize is, is in nowadays the PV manufacturers in China is suffer very big losses. And the financial stable is very important. And for high solar, we are very stable financial point of view. I think with the debt ratio, the carbon is still below 60% compared to most of the players. We are really offer the long term stability products, good quality product to the market. And in addition, we are also looking for the opportunity to do the PV project here, which can do really bring the renewable energy, uh, say power right. To the final plants. Yeah. I see. So, uh, we already touched base a little bit on your expectation of the market. Yeah. So looking into the future, what's next for HY solar in the European market? I would say for the time B, what we are doing now, we are, I would say specifics, maybe some special market. Mm-hmm. Or like German, France. Mm-hmm. Uh, then also like Italy and Poland, this is a key market we are working now. Mm-hmm. And of our way to work with, we work with our partner to grow and we have our local people to work here to support our clients, uh, locally. And then like the threat market, we have a special panel, like the 500 wa panel, which we, we can do and we can also, the low carbon let's achieve to about 360 or three 50, which may be very few manufacturer can achieve, and which we develop it to the market. And with the market go in, I will say we want to achieve also growing with, uh, some project developers, as I mentioned just now that we want to evolve some project business. Right. So not only selling the back panel, but also, uh, evolve the, uh, downstream sites, the project side. Yeah. Yeah. That's Very Interesting. So in our, our ways, we have a local project developers mm-hmm. But also we will add our sales people in China. Right. They can work as a team to mm-hmm. To Chloe. Yeah. Very interesting insights. Thank you so much for joining me, Tony, and good luck for the rest of the show. Okay. Thank you. Thank for.
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Frequently asked questions

Tony Hu projects 72-80 gigawatts (GW) of DC installations for Europe in 2024, with continued growth expected to reach 80-90 GW in 2025. This growth is supported by government initiatives and financial backing for renewable energy transition.

HY Solar emphasizes its full vertical integration from polysilicon to modules, allowing it to produce low-carbon products. Tony Hu notes their ability to offer panels with a carbon footprint as low as 350-360 kg CO2e/kW, serving residential, C&I, and utility segments.

According to Tony Hu, HY Solar is currently focusing its efforts on key markets such as Germany, France, Italy, and Poland. The company employs local teams and partners to support clients in these regions.

HY Solar plans to expand its involvement beyond selling panels to participate in PV project development in Europe. Tony Hu indicates an ambition to engage in downstream project business to deliver renewable power directly to end-users.

Tony Hu highlights HY Solar’s strong financial stability, noting that its debt ratio is below 60%. This offers long-term assurance for product quality and reliability in a challenging market.