Industry Notes

Industry Notes / Solar / Chapter 6 of 12 · Timeline

Why clearance is so slow

Anti-involution 1.0 died on antitrust; 2.0 is energy and cost floors

What is still unclear?

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  1. Dec 2025
    Platform registered; majors float debt-for-capacity buyouts
  2. Jan 2026
    SAMR talks; output/price self-discipline paused
  3. Jul 2026
    Three mandatory energy GB standards + cost accounting code
  4. Aug 2026
    Eight poly majors sign anti-involution pledge (~90% capacity)
  5. Read
    Price pulse ≠ trough turn; need cuts, inventory down, physical exits

After the stockpile platform was framed as market allocation, dashed hopes drove the late-2025 selloff. Now energy caps, a cost-accounting code, and pledges—still need trades and real capacity exits.

Source：市场监管总局约谈公开报道；光伏行业协会能耗国标与倡议书（2026）

Research notes, not investment advice.