Chinese solar exports fell 15% in June, BofA says

Investing.com -- Chinese solar exports declined for the second consecutive month in June 2026, with volume dropping 15% year-over-year while export value increased 9%, according to Bank of America.

The decline followed a 25% year-over-year volume decrease in May, suggesting weak overseas solar demand following Iranian conflicts. Module exports fell 20% year-over-year to 17 gigawatts in June, an improvement from May's 37% decline. Export value for modules rose 12% to $2.2 billion.

Europe led the decline with a 30% year-over-year drop in module imports from China. The region received 6.9 gigawatts in June, while the Middle East and Africa fell 30% to 3.2 gigawatts. Americas imports declined 8% to 1.9 gigawatts. Asia-Pacific recovered to flat growth after a 31% decline in May.

Cell exports decreased 11% year-over-year to 6.6 gigawatts in June, though export value rose 22% to $339 million. Indonesia remained the top destination by value with a 38% year-over-year increase, accounting for 24% of total cell exports. The Philippines ranked second with 14% of exports, while the United States jumped to third place with an 11% share.

Chinese customs data showed a surge in solar cell exports to the US, though this was not reflected in US solar import data. Bank of America said initial checks suggest volume may be transiting through China to the US, with the difference potentially reflecting small-sized cells. US solar module and cell import volumes both declined 48% and 62% year-over-year in May.

Wafer exports increased 2% year-over-year to 4.4 gigawatts in June, while export value fell 44% to $98 million. India accounted for 21% of wafer export value with a 36% year-over-year decline. Vietnam ranked second at 15% of export value.

SolarPower Europe warned that EU restrictions on Chinese inverters could affect 14% of EU solar demand, equivalent to over 28 gigawatts DC through 2030. Inverter export value rose 34% year-over-year in June, led by Australia with a 210% increase and Germany with 59% growth.

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