Combined with the fourth-quarter tax-inclusive quotation data, reports indicate that the photovoltaic modules with back sheets and frames and the retired modules have experienced a continuous overall price decline for three consecutive weeks since May 26.

May 18: Market segmentation, older small-size modules rose in price, while large-size high-power modules fell sharply.

May 26 (first round of price cuts): The market reversed, and some older models led the decline, and the market officially entered a price-cutting channel.

June 2 (second round of price cuts): All categories fell collectively, and the decline widened.

June 9 (third round of price cuts): All categories continued to decline, and prices have not yet stabilized.

Overall, the decline in older small-size photovoltaic modules is significantly greater than that of large-size high-power modules. The prices currently disclosed by the market are all tax-inclusive reference prices. In the industry, a large number of distributed retired modules still exist in off-line cash, invoice-not-issued gray market transactions, but with the full implementation of the national recycling resource tax compliance policy, the industry's gray circulation space is continuing to shrink and will be gradually cleared out.

At present, many regions across the country are vigorously promoting reverse invoicing, and payment upon invoicing and other tax-compliant measures to standardize the resource recycling transaction process. Taking Xingtai as an example, among the 124 local resource recycling enterprises, 88 have already handled reverse invoicing business, and a total of more than 4,606 natural persons have issued nearly 50,000 invoices. The Xingtai Municipal Tax Bureau will continue to improve the"reverse invoicing" tax risk monitoring and early warning mechanism, track and analyze enterprise policy implementation, and rely on tax big data to study and judge invoicing dynamics, precisely resolve enterprise bottlenecks and difficulties, and help the resource recycling industry chain develop in a standardized and healthy way.

From a national perspective, the Ministry of Ecology and Environment and the State Taxation Administration have signed a memorandum of cooperation to deepen information sharing and joint supervision. Jiangxi, Zhejiang, Shandong, Guizhou, Guangxi, Jiangsu and many other places have taken the lead in implementing the “payment upon invoicing” model, covering the entire scenario of resource recycling and, with the support of digital banking services, achieving a closed loop for transaction, payment, invoicing and tax payment. Even the once-overlooked used cooking oil sector in Chongqing has also implemented the “payment upon invoicing” service, enabling invoicing upon transaction and full-process traceability, with the scope of compliant supervision continuously expanding.

The 2026 tax system “Convenient Tax Services Spring Action” also explicitly proposes expanding related application scenarios and strictly investigating tax-related illegal activities. A series of policies and services have been implemented, not only resolving pain points in the recycling industry such as difficult invoicing and missing input items, but also establishing a compliance model for the photovoltaic recycling industry, continuously pushing offline scattered transactions toward standardization and transparency.