The photovoltaic sector is booming—did Musk place an order?

February 4th, the A-share photovoltaic sector had a strong surge, with the space photovoltaic concept leading the gains. JinkoSolar's stock shot up 20% to hit the daily limit, while Zherun New Energy, Zhonglai Shares, and Yamarton also hit their limits, and Haitai New Energy rose over 9%. The catalyst for this round of activity came from news of Elon Musk's team recently making secret visits to several Chinese solar companies. According to 21st Century Business Herald, JinkoSolar staff confirmed that the company did indeed have contact with Musk's related inspection team recently. The team learned about the company's technological reserves and production equipment, but the intention to cooperate and specific inspection details are not being disclosed. The staff also revealed that other leading domestic photovoltaic companies were all inspected. Reportedly, Musk's visit focused on advanced technology solutions, with heterojunction and perovskite cells being key areas of interest; it is said that contracts have already been signed with heterojunction equipment manufacturers. According to Sina Finance quoting sources, Musk's team recently secretly toured a number of Chinese solar companies, inspecting equipment, silicon wafers, cell modules, etc., with a particular focus on companies pursuing heterojunction and perovskite technology paths. Some solar companies confirmed the visit, saying "we did have contact with Musk's team, but the inspection details need to remain confidential." Market opinions believe that, regardless of the eventual location of production, Musk’s push to scale and commercially launch his space energy blueprint cannot avoid a deep reliance on China’s core solar manufacturing capability and cost advantages. China’s solar manufacturing accounts for more than 70% of global production capacity, with a complete and dominant supply chain spanning equipment, materials, and modules. Space Photovoltaic Concept Double Catalysts The trigger for this round of activity was the news of Musk’s team visiting Chinese solar companies. As an emerging concept, space photovoltaics, due to its intersection with AI computing needs and space exploration, is becoming a new focal point in the capital markets. According to Jiemian News, industry insiders revealed that last week, Musk's team researched Chinese solar firms including TCL Zhonghuan, JinkoSolar, and Jing Sheng Machinery. The companies did not directly respond to the truth of this news. Earlier, JinkoSolar’s switchboard staff publicly responded that the company had indeed been in contact with Musk’s inspection team recently. Furthermore, it is understood that previously, Musk's team had also researched some solar equipment vendors. Another piece of news igniting the solar concept, especially the space photovoltaic concept, is also related to Musk. On Monday local time, Musk announced that SpaceX has acquired his artificial intelligence startup xAI, in a record-breaking deal uniting his ambitions in AI and space. It is reported that the transaction values SpaceX at $1 trillion and xAI at $250 billion. Musk said the acquisition is necessary because the global power demand for AI cannot be met with "Earth-based solutions," and Silicon Valley will soon need to build data centers in space to support its AI ambitions. After SpaceX completes secondary market trading of its shares in December 2025, its valuation reaches $800 billion. There had been news that the company plans to IPO at a valuation of $1.5 trillion. Reportedly, SpaceX is expected to use IPO funds to develop solar orbital data centers, seen as a potential solution to the energy shortage in AI data centers. Musk has long advocated this idea, and other startups like Starcloud (backed by Nvidia), Alphabet, and Blue Origin are also exploring it. Musk’s Space Energy Blueprint Space photovoltaics have recently become a hot topic in capital markets, mainly driven by Musk’s announcement to build a solar base with annual capacity of 200GW, aimed at supporting his ground data centers and space AI satellites' energy needs. Musk has also discussed plans to launch solar-powered AI satellites in the coming years. He noted that solar panels in space are five times as efficient as those on Earth due to constant sunlight and no atmospheric interference. He predicts, "The lowest-cost deployment of AI will be in space," which will be realized within two to three years. In terms of space exploration, Musk said SpaceX hopes to achieve full rocket reusability with Starship this year. He described Starship as "the largest flying machine ever," and this breakthrough will reduce space access costs 100-fold to below $100 per pound. SpaceX has already demonstrated booster recovery at the launchpad but has not yet attempted to reuse the Starship spacecraft. Institutions Bullish on Long-term Space Photovoltaics Potential Some research institutions state that the long-term prospects for space photovoltaics are huge. SpaceX applying to deploy one million computing satellites has strengthened expectations of space photovoltaic demand. Solar equipment manufacturers who may become its suppliers stand as the biggest short-term beneficiaries of space photovoltaics. Guoxin Securities said that SpaceX’s recent moves have become a catalyst for rapid development of space computing power, and recommends attention to companies involved in rockets, space computing, space photovoltaics, and laser communications. Kaiyuan Securities pointed out that global data center electricity demand is expected to double by 2035, mainly driven by the growth of AI. Building enough power plants and energy infrastructure on Earth to support this demand will be extremely challenging. Deploying satellites in space can sustainably obtain almost unlimited solar energy, enabling scalable, reliable, and sustainable AI growth. BOCOM International said that the scale of global commercial space is growing rapidly; with the explosive growth of AI computing needs, space data centers could drive commercial aerospace demand. Photovoltaics are the most cost-effective power solution for aerospace activities, and space photovoltaics have obvious advantages over terrestrial photovoltaics. In the short term, LEO satellites should prioritize HJT crystalline silicon cells, with perovskites being the future choice. Guohai Securities believes that as the number of satellite launches increases and upgrades occur from communication satellites to higher power computing satellites, space energy demand is expected to continue growing rapidly. At present, photovoltaics are the only reliable form of space energy, and a new round of capacity building is likely. Global satellite deployment is set to enter a high-speed trajectory and space photovoltaic demand is expected to keep rising, maintaining a "recommended" rating for the industry. Risk Warning and Disclaimer The market has risks, investment needs caution. This article does not constitute personal investment advice, nor does it take into account individual users’ unique investment goals, financial situations, or needs. Users should consider whether any views, opinions, or conclusions in this article fit their specific situation. Any investments made based on this information are at your own risk.