Electricity (electrolytic refining) →supply up
China
China holds a 57% supply share on this edge, and new solar capacity in Zhengguo should raise future electricity availability in China.
88% confidence
Solar-Grade Polysilicon (9N Purity) →Stands to benefit
China
China's 91% share of this input means the incremental solar demand is most likely to benefit Chinese polysilicon suppliers.
86% confidence
Solar-Grade Polysilicon (9N Purity) →supply up
Electricity (residential)
The approved solar projects add generation capacity, and this edge captures polysilicon as a critical input to the resulting residential electricity supply.
84% confidence
Electricity (electrolytic refining) →supply up
Copper and electrical wiring
Copper and electrical wiring are a critical downstream good that depends heavily on electricity, so added generation capacity should ease the input constraint and raise availability.
82% confidence
Solar-Grade Polysilicon (9N Purity) →Stands to benefit
Tongwei Co., Ltd.600438.SS
Tongwei's 26% share of polysilicon supply and long replacement lead time make it a direct beneficiary of higher solar-project demand.
79% confidence
Solar-Grade Polysilicon (9N Purity) →Stands to benefit
GCL Technology Holdings3800.HK
GCL's 20% share of polysilicon supply means it should capture part of the added demand from the approved solar buildout.
77% confidence
Tongwei Co., Ltd. →Prices rise
Solar-Grade Polysilicon
Tongwei’s 26% share of solar-grade polysilicon and low substitutability mean new solar-project approvals should lift demand and push prices up for this commodity.
77% confidence
Solar-Grade Polysilicon (9N Purity) →Stands to benefit
Daqo New Energy Corp.DQ
Daqo's 12% share of polysilicon supply gives it a meaningful, though smaller, benefit from increased solar-project demand.
73% confidence
Daqo New Energy Corp. →Prices rise
Solar-Grade Polysilicon
Approval of large solar projects should raise future demand for solar-grade polysilicon, and Daqo’s 12% market-share link with low substitutability and long replacement lead time points to a meaningful upward price impulse in that input market.
58% confidence
GCL Technology Holdings →Prices rise
Solar-Grade Polysilicon
Approval of 1,441.3 MW of new solar capacity should lift polysilicon demand, and this input's low substitutability and long replacement time make near-term price pressure plausible.
57% confidence
China →Stands to benefit
Mettler-Toledo International Inc.MTD
China accounts for a large share of Mettler-Toledo's production, so added Chinese solar capacity can support production uptime at its Chinese operations.
53% confidence
GCL Technology Holdings →Prices rise
Solar-Grade Polysilicon (9N Purity)
The added solar buildout can increase demand for higher-purity polysilicon, and this 20% share input with a 12-month replacement horizon is likely to face some upward cost pressure.
52% confidence
China →Stands to benefit
Hamilton Beach Brands Holding Co.HBB
Because about two-thirds of Hamilton Beach's suppliers are in China, more local electricity supply can reduce disruption risk and support supplier output.
46% confidence
China →Stands to benefit
e.l.f. Beauty, Inc.ELF
With substantially all third-party suppliers and manufacturers in China, additional Chinese power capacity should modestly improve output continuity across e.l.f.'s sourcing base.
44% confidence
Xinte Energy →Prices rise
Solar-Grade Polysilicon
Approval of more large solar projects should raise downstream demand for solar-grade polysilicon used in Xinte's chain, and with only 10% share on this input plus a 24-month replacement lead time, the near-term effect is higher input prices.
43% confidence
China →Stands to benefit
ROSS STORES, INC.ROST
China's added solar generation can modestly improve electricity availability for the country that sources more than half of Ross's merchandise, easing manufacturing-side disruptions for its suppliers.
34% confidence
