(Yicai Global) Feb. 6 -- The majority of China's A-listed photovoltaic firms expect to report strong profits for 2017, buoyed by increased sales of solar cells and falling production costs.

29 of the country's 32 listed solar companies forecast positive results for the full-year, with 24 anticipating higher growth in net profits and two reversing losses from the year before, preliminary analysis of public information shows.

The companies concerned are expected to post combined total net profits of CNY11.6 billion (USD1.84 billion) for last year, representing over 50 percent growth annually.

Leading the charge is Xi'an-based Longi Green Energy Technology Co., the world's biggest maker of monocrystalline-silicon chips used in solar cells, which forecasts net earnings of CNY3.3 billion (USD524.5 million) to CNY3.6 billion (572.1 million), up 113 percent to 133 percent annually.  The huge increase in profitability was mainly driven by the rapid growth of sales of its core products and declining production costs, which boosted margins.

China's PV industry has seen a rapid fall in production costs and prices due to advances in technological processes and equipment, said Wang Bohua, vice president of China Photovoltaic Industry Association. Prices of some products have fallen nearly 90 percent over the past 10 years, he added.

China's introduction of a carbon emission trading system at the end of last year is another driver of the industry. The inclusion of power generation enterprises in the market will constitute a new growth driver for profits in the new energy sector. Electricity generated through renewable means will achieve grid parity and gradually replace traditional energy, said a representative of one solar firm.

PV electricity prices are expected to reach CNY0.4 - CNY0.5 per kilowatt-hour this year, equivalent to traditional sources of energy, with some even being lower than CNY0.4 in the most resource-rich regions, Wang said.