As seen in recently published Q1 reports, the global PV market finds itself under pressure, with tier 1 manufacturers running at a loss for the first time, with the exception of JinkoSolar, Trina and Canadian Solar, all of which transitioned to N-type TOPCon earlier than other companies. TOPCon has subsequently achieved a dominant position in the market.
As the widely recognized leader in TOPCon, Jinko reached an all-time high for profitability of its own PV business in 2023. Despite a number of unforeseen industry challenges in Q1, the company performed well in a tough environment, a trend which looks likely to continue in the quarters and years ahead backed on solid orders.
The company continued to expand its 314Ah battery and energy storage SunTera and SunGiga capacity in Q1, while updating its upcoming Tiger Neo lineup with a 26% and 23.8% TOPCon efficiency at cell and module level respectively, due for release during SNEC 2024. Not contingent upon any new factory or new production line, the upgraded module will be manufactured on existing production lines, meaning that the new Tiger Neo is a ready-to-ship product.
The Jianshan BESS factory, AI-based and highly automated, will allow the company to reach 12GWh of capacity when current upgrading is complete.
VP Dany Qian commented: “We are making sure that we’re being as safely and efficiently powerful as possible with regard to our energy storage. It’s not just about the energy density and MWh of a unit, but how efficiently it’s charged and discharged over time. We are excited about our LFP battery and liquid cooled ESS road map. It is obvious to anyone who uses energy storage that safety and charging/discharging efficiency exceeds the power capacity and we’re headed for a renewable future primarily empowered by solar plus storage.”