Hello to all you passionate solar enthusiasts out there!
In today’s post, I’ll be discussing an article that highlights the impressive stats and figures for solar generation from one of the leading solar companies in the world, JinkoSolar. While they are a Chinese-based solar company, their reach is really global.
In 2023, JinkoSolar made headlines by becoming the world’s largest photovoltaic (PV) module supplier with 78.5 GW of global shipments. Yes, that’s right, they shipped an enormous 78.5 Gigawatts of solar power around the world. From my perspective, what’s crucial to understand here is the scale at which solar companies are operating and the rapidity with which the solar industry is growing.
JinkoSolar’s module shipments saw an extraordinary increase of 76.4% year on year! It’s quite fascinating to see how much the solar market is expanding and revolutionizing the energy industry. The company’s turnover also escalated to CNY 118.68 billion (about $16.72 billion), a 42.8% increase from the previous year. Additionally, they posted a net profit of CNY 3.45 billion, thanks to optimization efforts, which helped improve profitability significantly.
Now, let’s consider what this means for you. If you’re interested in investing in solar panels for your home, this tells you that the solar industry is both growing rapidly and economically sustainable. More specifically, it means that the cost of your potential solar array for home is decreasing thanks to players like JinkoSolar who are continuously optimizing and implementing cost-saving measures.
Moreover, half of the modules shipped by this solar company in the fourth quarter of 2023 were to the Chinese market, where they were sold at lower prices, potentially highlighting a trend towards more affordable solar systems worldwide.
It’s also worth noting that JinkoSolar has set high hopes for 2024 as they aim to ship between 100 GW and 110 GW. Their production capacity for mono wafers, solar cells, and solar modules is expected to reach 120 GW, 110 GW, and 130 GW, respectively, by the end of 2023. These numbers indicate that the company is investing in increased production and innovation, and it’s anticipated that N-type cell efficiency will have reached an impressive 26.5% by then.
Watching the growth and progress of leading solar companies like JinkoSolar can give us invaluable insights into the future of solar power. Whether you’re interested in commercial solar ventures or considering solar panels for your home, keeping up-to-date with developments in the solar industry can provide valuable context and inform your decisions.
Stay tuned to this space as I continue to explore the ins and outs of the solar industry, sharing exciting information and breaking down complex concepts into more digestible information.
Till next time, sunny days!
Original Articlehttps://pv-magazine-usa.com/2024/03/20/jinkosolar-claims-top-spot-in-2023-pv-module-shipment-rankings/
