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JinkoSolar has begun changing its manufacturing to n-type tunnel oxide passivated contact (TOPCon) merchandise to stay aggressive, mentioned Frank Niendorf, the corporate’s normal supervisor for Europe. He predicted that many gamers within the worth chain market will exit the market quickly.
from pv journal in Germany
The set up marketplace for personal PV rooftop programs in Germany is at the moment present process consolidation, with a worldwide market shake-up pushed by looming overcapacity. Frank Niendorf, normal supervisor of Europe at JinkoSolar, mentioned that this shakeout will have an effect on the photo voltaic business, particularly the second-tier producers, and will trigger the relocation of main Chinese photovoltaic producers.
“Consolidation is unlikely to free producers from the second tier and also will result in transfers amongst very massive photovoltaic factories from China,” Niendorf mentioned in a current interview with pv journal.
The business is competing for gross sales markets, with module costs in some elements falling beneath manufacturing prices, in response to Niendorf. This worth strain is mirrored within the monetary studies of the module producers. JinkoSolar, the final main Chinese photovoltaic producer nonetheless listed on the Nasdaq inventory trade, lately reported constructive quarterly outcomes for the primary quarter of 2024.
JinkoSolar’s stability sheet revealed that gross sales of photo voltaic modules, cells, and wafers elevated by greater than 50% to almost 22 GW, though turnover was 1.2% decrease year-on-year, hitting $3.19 billion. . The firm nonetheless managed to submit internet earnings of $84.4 million.
This efficiency places JinkoSolar higher than most of its home opponents, that are now not listed on the Nasdaq and publish their monetary forecasts on the Chinese inventory trade. Recent figures from different main PV producers present vital losses. For instance, Longi Solar expects a internet lack of not less than $660.2 million for the primary half of this yr – a big drop in final yr’s income as a result of falling costs and stock write-downs. Similarly, JA Solar expects a lack of as much as $166 million within the first half of the yr, which it attributes to elevated competitors and continued worth drops.
“Companies with lower than 100 gigawatts of vertically built-in PV capability have little probability”
Many medium-sized and small PV producers in China are at the moment going through intense aggressive strain. Niendorf mentioned that firms with lower than 100 GW of vertically built-in PV capability have little probability of survival out there. He famous that the worldwide manufacturing capability is at 1.3 TW, whereas the demand is just about 500 GW to 600 GW. He mentioned he doesn’t anticipate the market to match manufacturing capacities within the brief time period, particularly as many producers proceed to increase. He predicted that “consolidation is coming.”
Niendorf additionally famous that JinkoSolar’s administration has lengthy acknowledged the transition from passivated emitter and rear contact (PERC) to TOPCon expertise. The firm has largely accomplished the transition to n-type TOPCon merchandise, saving it the burden of adjusting manufacturing traces within the present market scenario.
According to Niendorf, JinkoSolar is predicted to promote 100 GW to 110 GW of merchandise this yr – primarily photo voltaic modules, but additionally cells and wafers. Almost 90% of those gross sales are anticipated to be n-type photo voltaic modules. By the top of the yr, JinkoSolar goals to have a manufacturing capability of 120 GW for wafers, 110 GW for photo voltaic cells, and 130 GW for photo voltaic modules. The firm can also be focusing on an effectivity of 26.5% for n-type photo voltaic cells in mass manufacturing.
JinkoSolar is pushing the event of PV expertise regardless of difficult instances, whereas additionally exploring new enterprise areas. The firm recognized power storage as a big alternative. Last yr, it launched a house storage system at Intersolar Europe, and this yr, it expanded its choices to incorporate storage options for business and huge programs.
“Storage is now the brand new massive factor,” Niendorf mentioned. He expects the storage enterprise to have the potential to develop into as massive because the module enterprise in the long run. For JinkoSolar not less than, that is set to develop into an vital pillar.
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