Jinkosolar Forecasts a Big 2020

By Jinko Solar
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Source: Jinko Solar

Jinkosolar’s stock price went up by more than 30 percent over the past month and the company is forecasting a big 2020, despite the outbreak of coronavirus which, while it may have an impact on supply to some extent, is a problem being faced by all players and almost all industries.  According to Jinko, the company’s broadly diversified global footprint, localized service teams, multiple hubs and flexible logistics mean that any negative effects will be reduced to a minimum. In addition, facilitated by a high level of automation, Jinkosolar may be the earliest manufacturer to recover production and ramp up to its full capacity.

Based on a recently published Global Data report, Jinko finished a strong year with record-high sales of 14.2GW, securing its leading position for the fourth consecutive year.  After being questioned about the possibility of hitting the initial target for 2020 after the unexpected spread of the virus, the company is still optimistic and confident of catching up on the product schedule to fulfill its 50% order visibility, which has already been locked in for the year.

Tiger Module ready to be rolled out

If 2019 was the year during which Jinko’s Cheetah became the most talked-about solar panel, 2020 may be the year for its Tiger 470 to take the industry by storm, thanks to the greater power and efficiency that this new panel can deliver. Without adding additional cost to BOS, the Tiger panel will allow customers to achieve a major reduction in the LCOE and accelerate the pace of technology innovation. Sales started in Q4 last year, and the first deliveries of the panel,  designed to combine features of a maximum power of 470 watt and module efficiency of 20.9 %, are scheduled in Q1 this year. Jinko is already seeing a heavy interest in the Tiger module thanks to its high energy density. By the end of this year, the company expects the capacity of the Tiger module’s premium series to be 10 GW.

Swan bifacial ready to take off

Another ‘hot’ module is the Swan Bifacial with DuPont transparent backsheet, which has been perceived as one of the best selling bifacial panels to date. After delivering its first order to Australia in Q3 last year, Jinko has now booked 1.8 GW of orders and the Swan has become one of the best selling bifacial modules in the world. The demand is strong as more and more EPCs, developers and investors understand the value implications of the product.

Instead of reducing frontside glass thickness to save weight, an approach which has been quietly adopted by some dual glass bifacial module manufacturers, the Swan bifacial panel with transparent backsheet keeps the thickness of frontside glass unchanged to guarantee the robustness of the panel. 

Based on current trends, it appears likely that the Swan bifacial module will be able to outsell dual glass alternatives, particularly in regions where BOS cost is a critical factor in total investment.

Jinkosolar has a strong track record of “stating goals and then meeting or, usually, exceeding them”. If these predictions come true, 2020 could be a seminal year for the company.

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