The number of Chinese companies entering the solar industry has ramped up since China adopted its dual carbon goal – “peak in 2030, net-zero in 2060” in September 2020. Eleven state-owned enterprises have reportedly entered solar manufacturing of late, with heterojunction manufacturing, glass manufacturing, and rooftop installation being popular segments. The past years have also seen well-established photovoltaic giants expand into other fields, with LONGi entering hydrogen, Jinko entering wind and hydrogen, and with the photovoltaic supply chain becoming more verticalized. As a general rule the established manufacturers are investing more in TOPCon, while heterojunction is being disproportionately pushed by first time entry combinations of state-owned enterprises with finance, looking to enter the solar industry, with small solar companies that…