Technology and Quality Empowers JinkoSolar to Become No.1 Solar Brand
2016 is JinkoSolar’s 10th Anniversary, as the company thrives at all fronts according to its Q2 financial results, it closed another record of 1716 MW solar module shipments, 896.1 million dollars in net sales and 20.4% gross margin. That surpassed the record brought in during the previous quarter.
For the first quarter of 2016, JinkoSolar achieved record high in 1600 MW solar modules, becoming the world’s largest solar module manufacturer for the first time.
In every case, JinkoSolar exceeded the midpoint of its guidance. The strong growth is primarily due to its high quality and high reliability products, in addition to the company’s strong market position in the three most active markets, China, USA, Europe and Latin America, with an estimate of 4 GW from China and USA in 2016, in addition to its successful deployment in the Latin America regions, securing 834 MW in Brazil in 2015 and 1 GW in Mexico recently.
In the United States, JinkoSolar has secured its largest market share in the addressable utility scale projects, and is surging in the residential and commercial markets, so the company expects to do quite well – on pace for 2 GW in the US.
Continuing with Jinko’s success in 2015, the company signed a 1 GW deal with US giant sPower at the beginning of 2016. In August, JinkoSolar closed another impressive 560 MW Master Module Supply Agreement with CONSOLIDATED EDISON DEVELOPMENT, INC., a New York State-based developer, owner and operator of large-scale renewable energy projects.
The reason for JinkoSolar’s success in the United States is the tailored solutions it has for the residential, commercial and utility segments.
In the utility segment, JinkoSolar offers a variety of products to the market, all modules are among the most tested in industry by leading third party laboratories. Its newest module series, the Eagle module, is the world’s first framed PID-free module at 85 degrees Celsius and 85% relative humidity, a good choice for humid environments or systems that use transformerless inverters.
JinkoSolar has historically welcomed suggestions from these third parties as opportunities to improve the manufacturing process. Asone of the few truly vertically integrated module manufacturers—the company actually started its business as an ingot and wafer manufacturer—JinkoSolar has complete oversight over the quality of the module. The company has also gone further than others by making its own junction boxes, connectors, and frames. When it does source outside materials, it only gets the best, as evidenced by its global strategic collaboration agreement with DuPont. JinkoSolar recently announced that it is exclusively using DuPont Tedlar® backsheets for its 1500 volt modules, which will ensure that the modules last more than 30 years even in the harshest environmental conditions. The results are impressive; in the United States, one of JinkoSolar’s most prominent markets, the company had zero verified power output warranty claims in 2015.
JinkoSolar has outshone its peers in the quality of customer service, the company has smartly allows autonomous, full-service regional teams to operate, it’s regional headquarter in San Francisco has a full suite of capabilities including sales, marketing, finance, product, legal, operations and business development. The operations team in particular has stood out, and bucked the industry trend of delivering modules late.
In 2015, the US team delivered 1 GW of modules with an on-time rate of 99.97%, which is unheard of in the solar industry. This ensures that JinkoSolar’s customers are able to complete their projects free of drama. Customers return to Jinko because they believe in their brand promise – a modern, open-minded business partner committed to delivering quality modules with unquestioned pre- and post- sales operations and service.
In the commercial and residential sector, JinkoSolar has been working with several solar load/lease options for homeowners. Jinko is one of the largest suppliers to Vivint Solar, and it’s selling to many customers using Sunrun leases.
Solar leases are a good option for homeowners, though many acknowledge that owning the system is ideal if possible. Jinko is qualified with most major loan providers in the space, and also has partnered with GreenSky Credit to offer exclusive financing options to its residential customers—the company is the only one among its peers to offer this type of solution. It will make Jinko panels a more competitive offering in the market, as customers will get access to special rates not normally available on the open market.
JinkoSolar has been investing heavily in R&D to maintain its leading position in technology and applications. Its Eagle platform has come with a series of enhancements, including a 1500V option, the Eagle MX and Eagle PERC. Maximum system voltage at 1500 volts allows for longer strings and lower balance of system costs.
JinkoSolar’s Smart Solution, has been promoted in particular in 2016. As the Eagle MX Maxim Optimizing solution has been recognized by clients and represents the best return on investment.
JinkoSolarunderstands homeowners value ROI over all other aspects of the product when they apply solar on their rooftop. They want to break even as soon as possible, yet without breaking the bank. But shade and roof orientation are always the problems lying ahead. JinkoSolar thus offers its Eagle MX Smart Solution, which has cell-string level maximum power point tracking, allowing for optimal performance in shading situations or tighter row-to-row configurations.
Field tests have been conducted, showing that JinkoSolar’s Eagle MX Smart Solution performs 4 times better comparing to conventional modules. In a single day, it has 13% energy improvement over conventional solutions, even has 1.4% improvement over conventional in optimal conditions.
For homeowners, it means when choosing JinkoSolar’s Ealge MX Smart Solution, they don’t need to worry about their roof orientation or whether there are trees around their houses. They are able to install more panels on their roofs, and generate constant and efficient power output.
The same situation happens in commercial and utility projects, only even bigger. Instead of installing additional add-on boxes which are costly and time-consuming. JinkoSolar’s Eagle MX Smart Solution’s embedded MPPT frees all those troubles, the boxes are no longer needed, and the density of the installation has been sharply increased to enhance energy harvest. It simply helps investors to make more revenue.