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Over the past few years, China’s photovoltaic industry has been trapped in a cold spell of cutthroat competition driven by low prices. Following the wave of capacity expansion across the entire industry chain, production capacities in various segments such as silicon materials, silicon wafers, batteries, and modules were released in large quantities. The relentless \"price wars\" continued to erode companies’ profit margins, and the gross profit margins of leading players in this industry kept falling. The traditional growth model, which relied on increased installations of ground-based power plants to boost performance, could no longer be sustained. As competition in the terrestrial photovoltaic sector intensifies, leading photovoltaic manufacturers are adopting a new strategy of \"reaching for space,\" expanding the industry’s scope from deserts to low Earth orbit. Space-based photovoltaics have thus become a key breakthrough for this industry to overcome economic cycles and focus on high-value areas of development. In recent years, relying on the cost advantages of its complete industrial chain, China’s photovoltaic industry has firmly secured a major share of the global terrestrial PV market. However, the drawbacks of aggressive capacity expansion have gradually become apparent. A large number of small and medium-sized manufacturers have focused on the production of traditional P-type and N-type solar cells, leading to similar product technologies and overlapping application areas. Once the growth rate of installations at the end-user level fails to keep up with the increase in production capacity, \"price wars\" become the only means of competition in the market. Against this backdrop, finding entirely new high-value application areas and investing in next-generation cutting-edge technologies has become the only way for leading photovoltaic companies to break through challenges, and space photovoltaics precisely meet the core demands of industrial transformation and upgrading. Unlike the large-scale, low-margin business model of ground-based photovoltaics, space photovoltaics, thanks to the high standards associated with aerospace applications, creates a premium industrial ecosystem that is distinct from that of the terrestrial market. Severe environments such as extreme temperature differences in space, intense cosmic radiation, and weightlessness in a vacuum impose stringent aerospace-grade requirements on the conversion efficiency, weather resistance, and stability of photovoltaic cells. Leading enterprises rely on the development of space photovoltaic samples and on-orbit testing to verify the reliability of aerospace-grade photovoltaic products, thereby enabling the practical application of space technology in civilian fields. Meanwhile, industry leaders are accelerating the on-orbit testing of perovskite tandem cells to continuously accumulate unique empirical data. As N-type cells gradually become the mainstream technology for land-based applications, they are securing a foothold in the next generation of photovoltaic technologies, thereby building a strong long-term technical advantage. Unlike terrestrial components, which rely on high sales volumes at low margins to generate profits, space-based photovoltaic products must meet stringent aerospace procurement standards. As a result, their added value per unit is significantly higher than that of conventional ground-based products. Even if large-scale revenue generation remains unattainable at this stage, such products can still help widen the gap between leading enterprises and smaller manufacturers in terms of technology and product quality, thereby effectively curbing cutthroat price competition at its root. Objectively speaking, domestic space photovoltaics are still in their infancy as an industry; it is progressing steadily along the path of forming industry alliances, conducting laboratory tests on samples, and installing such systems in small quantities on spacecraft. There is still a long way to go before commercialization and large-scale revenue generation can be achieved. At the same time, orbital resources are scarce and exclusive; positions in low Earth orbit are allocated on a first-come, first-served basis. The competition for such resources has long been intertwined with geopolitical and industrial rivalries, and the opportunities available are fleeting. This means that leading photovoltaic companies cannot afford to wait idly for the industry to mature. Investing in space photovoltaics now means high R&D costs and delayed returns on production in the short term; in the long term, however, it is an advantageous strategy for gaining a foothold in orbital applications and securing a position in the future high-end aerospace energy market. Globally, the commercialization of the commercial aerospace industry is accelerating steadily; commercial satellites, near-Earth space stations, and deep-space exploration projects are being implemented on a gradual basis. The demand for space-based energy is increasing continuously, and the long-term market for space photovoltaics holds great potential. For the domestic photovoltaic industry, which is mired in a “price war”, space-based photovoltaics represents not only a new product segment, but also a crucial means for the industry to break free from “involution” and transition from mere scale expansion to gaining technological premium value. In the future, as on-orbit test data continues to improve, industry standards are established one after another, and the frequency of commercial satellite launches increases, space photovoltaics are expected to evolve from small-scale tests toward industrial application. For the entire industry, the value of space-based photovoltaics lies not only in creating new revenue streams, but also in reshaping the logic of industrial research and development. It compels the phased-out of outdated and inefficient production capacities, thereby enabling the industry to move up the global value chain. From solar panels in the Gobi Desert to photovoltaic wings soaring through space, China’s photovoltaic industry is taking the cosmos as its new arena. It is breaking free from the dilemma of overcapacity-driven “involution” and writing a brand-new chapter in the high-quality development of the industry. China Petroleum News Center