For Alberto Cuter, the drop in demand for modules is not a demand crisis but a transition to a different type of growth. He made this clear during his appearance on Energía Estratégica 's first daily livestream, titled " It Had to Be Said, and It Was."
“If we think that an industry has to grow year after year, we would be crazy. It's not a matter of product production, but of how we will implement it,” he stated.
Furthermore, one of the factors explaining the global dynamic is the elimination of VAT refunds on Chinese photovoltaic exports, a measure that the market anticipates could push module price increases of between 10% and 15% .
This change is already having commercial impacts, given that Chinese exports of solar modules to Latin America totaled 2.99 GW between January and February 2026 , which implies a year-on-year variation of -51% , concentrating the largest year-on-year decline among all markets.
The diagnosis also comes in a context of strong oversupply: while global manufacturing capacity reached 1.33 TW , effective demand was around 650 GW , an imbalance that fueled the price war and today forces an industrial reorganization.
“It was a lack of planning and the result was a price war. For example, 2024 was a terrible year and at Jinko Solar we ended up at par with USD +8M profit, but 2025 was terrible for everyone,” he stated.
When asked about the possibility of a coordinated mechanism to regulate the industry, the VP for LATAM and Italy of Jinko Solar ruled out the possibility of a kind of Organization of the Petroleum Exporting Countries (OPEC) but for the solar sector.
“It’s very difficult for Chinese companies to reach an agreement… they tried it a few times and it worked for a few months, but then it didn’t. Chinese companies like to compete and be number one,” he acknowledged.
From his perspective, only intervention by the Chinese government could put limits on a dynamic that threatens to consolidate a purge of actors.
“We can’t continue like this, because large companies will have problems or may even disappear. Several small companies in the sector have already disappeared,” he added.
Recent financial statements are proof of that pressure. Although Jinko Solar reached the milestone of 400 GW of installed modules , the company reported preliminary losses of approximately USD 984 million in 2025 , affected by the drop in sales prices, a phenomenon affecting the entire industry.
However, even in that context, Jinko managed to regain its position as the world's largest solar manufacturer in 2023, while increasing orders from distributors by 60% during the first quarter of 2026 compared to the same period last year.
“It was achieved with a good product and good management capable of having a good relationship with customers. We were the first Chinese solar manufacturer with a very local commercial strategy,” he highlighted, referring to a model with its own presence in each market, including some 30 people in Latin America .
LATAM readjusts: Brazil slows down and Mexico returns to the radar
In parallel, this global realignment is also reflected in Latin America. Although the 51% drop in Chinese module exports to the region between January and February raised concerns, much of this dynamic is due to the Brazilian slowdown.
Why? Although the country ended 2025 with 62.7 GW installed , the utility scale segment faces a slowdown associated with curtailment, high interest rates, lower PPA prices and greater regulatory uncertainty.
Such as? One of the clearest examples is the revocation of 509 permits by Brazil's National Electric Energy Agency (ANEEL) for solar and wind power plants, with an approximate total of 22 GW, during 2025.
Even Cuter estimated that the utility scale segment could be limited this year to just 1.5 GW of photovoltaics, well below the country's historical rates (it grew 15.6 GW from 2023 to 2024 and 9.5 GW from 2024 to the end of 2025).
But this Brazilian retreat, he argues, doesn't imply a regional contraction but rather a shift in growth patterns. "What one country loses, another gains," and that's where Mexico comes in, regaining prominence thanks to a new solar pipeline exceeding 26 GW , massive new tenders, and more than 2 GW of photovoltaic capacity recently awarded.
“Mexico has everything it needs to be the next Brazil in photovoltaics and be a market of 7-8 GW per year,” he said, clarifying that it also requires accelerating regulatory decisions and advancing infrastructure to keep up with demand.
“Mexico needs energy, and clean energy, so it has everything it needs to be a new Brazil in this area,” he insisted during the streaming event. “ It had to be said, and it was said.”
As a result, while price wars and overcapacity are redefining the global landscape, in Latin America this new cycle seems to be finding a new center of gravity. And for Jinko Solar, that axis could shift from Brazil to Mexico.
This overview and ongoing initiatives will be part of the central themes of the Future Energy Summit (FES) Mexico 2026, which will take place on May 19 in Mexico City, where key players from the public and private sectors will analyze the challenges and opportunities linked to the expansion of the energy system, new investment schemes and the execution of strategic projects.
To access the full FES 2026 tour schedule, learn more about it and be part of the meetings, the FES digital platform is available, while all events will have a live broadcast through the official Future Energy Summit YouTube channel.