SNEC 2026 showed that the solar industry is undergoing “soft consolidation,” with companies expanding across the value chain and into storage rather than consolidating through mergers or exits. Despite ongoing oversupply and financial losses, manufacturers are shifting from volume to quality and differentiated solutions, while market forces increasingly drive competition and future consolidation.
The 2026 edition of the SNEC PV Power Expo, which took place in Shanghai, China, last week, underscored the ongoing resilience of the Chinese PV supply chain despite continued industry-wide overcapacity.
Even in a prolonged low-price, low- to zero-margin environment, China’s largest solar trade fair has maintained strong attendance from both domestic and international participants. This reflects sustained global interest in emerging products and technologies, although the volume of new announcements, particularly for PV modules, appears lower than in past editions. At the same time, manufacturers across the sector have increasingly begun to diversify their product portfolios, expanding beyond traditional offerings in response to shifting market pressures.
According to the event’s organizers, around 115,000 visitors had attended the show after one and a half days, with more than 3,000 exhibitors present. The most notable development, however, was the large share of exhibitors active in the energy storage sector.