Jinko Solar jumps to 3rd largest panel manufacturer after strong 2014 sales
Figures from PV-Tech reveal the top solar PV suppliers for 2014, with a number of companies shuffling for position in the top 10.
Guided by shipping forecasts in the final quarter of the year, Chinese manufacturers Trina Solar and Yingli Solar hold their positions at the top, but the surprise movement came with Jinko Solar rounding out the top three after a very strong year of growth for the highly rated solar supplier.
JA Solar climbed from tenth position last year to finish fifth. PV-Tech explains that the move, “reflects its switch from being a merchant solar producer to a major module supplier in only a few years”.
This move pushed down competitors Sharp Solar, First Solar and Hanwha Solar One. Wuxi Suntech snatched the final spot in the top 10 despite not even being on the radar twelve months ago.
Jinko have increased their capacity from 1.9GW in the first quarter this year following the acquisition of various small competitors and reorganising distressed manufacturing processes. Impressive quarters of consecutive profitability earned JinkoSolar a reputation as a solid investment, far exceeding Wall Street’s projections for the company.
A recent US survey found that 99% of respondents indicated that a solar panel’s reliability was either “important” or “very important”, with quality being the second highest factor influencing their purchasing. With a performance ratio of 105% and Photon Laboratory naming Jinko “Top Crystalline Module Provider” it’s easy to see how consumer confidence has influenced their market share.
Solar Sunwerx have utilised Jinko panels for a number of their large-scale installations, including 240 panels at the 60kW grid-connected system at Bowens Hardware in Rowville, Victoria.
A massive 319.000 Jinko panels were supplied for solar farms in Canberra and Cape Town late last year. 4,500 homes in the ACT are being powered by the Royalla PV plant, the largest of its kind in Australia, helping the territory close in on their goal of achieving 90% of their energy from renewable sources by 2020.
