Tuesday Dec 06, 2022

JinkoSolar (JKS) Delivers 100 GW Solar Panels, Sets New Record – Zacks Investment Research

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JinkoSolar Holding Co. Ltd. (JKS Free Report) recently announced that it has succeeded in becoming the world’s first solar company to supply 100 gigawatts (GW) of solar panels globally. With this accomplishment, JinkoSolar further strengthened its position as a leading supplier of solar products worldwide. This also highlights the strong demand that the company’s products enjoy in the solar landscape amid supply-chain challenges.

Strong Product Lineup Shaping the Growth Trajectory

JinkoSolar is one of the largest and most innovative solar module manufacturers in the world. Its attractive product offerings in the solar market have been instrumental to its growth and have made the company the most preferred choice as a solar module provider. One out of every 10 solar modules installed worldwide was manufactured by JinkoSolar.

The Cheetah, Swan, Tiger and Tiger Pro series modules have consistently given a healthy boost to its overall demand and growth. Furthermore, JKS’ continuous effort to bring in innovative and more efficient products to be consistent in providing technologically advanced products to meet the needs of the market assisted the company to continue with its pace of growth.

In this context, its new series of ultra-efficient Tiger Neo modules, the Tiger Neo series, boasts capabilities that make it one of the most proficient solar modules in the market to date. Apart from this, another product, which is likely to witness strong demand and fetch a handful of returns and growth for JinkoSolar going forward, is its Integrated Building Photovoltaics modules and systems.

Such an efficient and next-generation product range is likely to witness strong demand in the long haul amid the rising demand for renewable sources of energy worldwide to meet clean energy goals. This, in turn, should boost JinkoSolar’s growth prospects in the solar market in the days ahead and aid in achieving more milestones like the latest one.

Global Solar Market Boom

The widespread adoption of solar energy to replace the traditional ways of energy generation has led to the development of solar projects globally. The pent-up demand is likely to boost the growth prospects of the solar market worldwide. The global solar energy market is expected to witness a CAGR of 13.8% over the 2022-2027 period, per the report from Mordor Intelligence.

Such expanding solar market projections indicate ample opportunities for JinkoSolar to bolster its revenue generation prospects aided by its solid product portfolio as mentioned above.

Opportunity for Peers

To reap the benefits of the growing global solar market, solar players are also giving their efforts.

Canadian Solar (CSIQ Free Report) delivered more than 67 GW of solar modules in more than 160 countries, enough to meet the clean, green energy needs of approximately 15.8 million households. It currently has 24.4 GW of solar projects and 27 gigawatt-hour of storage projects in the pipeline.

Canadian Solar’s 2022 estimated earnings indicate a growth rate of a solid 192.9% from the prior-year reported figure. CSIQshares have rallied 5.1% in the past six months.

In the fourth quarter, SolarEdge Technologies (SEDG Free Report) witnessed record solar revenues, driven by strong demand …….

Source: https://www.zacks.com/stock/news/1889737/jinkosolar-jks-delivers-100-gw-solar-panels-sets-new-record

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