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China’s drive for a polysilicon bailout

Following a lengthy period of oversupply and falling prices for solar components, China’s central and local governments are working with PV industry giants to implement an unprecedented plan to purchase and eliminate excess capacities. Vincent Shaw reports on China’s efforts to bring PV oversupply under control.

By

Vincent Shaw

05 Dec 2025

Green floors and big industry atmosphere. There are not many workers seen in the Daqo video. Those four on the right-hand side are starting to harvest the silicon that has been crystallized in the vessel. | Image: screenshot, Daqo video

China’s PV industry has trudged through seven consecutive quarters of oversupply-driven downturn since the fourth quarter of 2023. From polysilicon to finished modules, no segment has been spared. Losses on corporate earnings reports have stacked up like a river icing over in winter: brittle and unforgiving. Between 2024 and 2025, oversupply became routine for the …

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