LONGi sets solar industry record for R&D spending

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
LONGi reported record cell and module efficiency levels in 2017, including bifacial solar cells.

Leading integrated high-efficiency monocrystalline module manufacturer and ‘Silicon Module Super League’ (SMSL) member LONGi Green Energy Technology set a new solar industry R&D expenditure record in 2017, not only surpassing the two historical leaders, First Solar and SunPower, but also spending more in one year than any PV manufacturer to date. 

According to LONGi’s recently released 2017 annual financial report, total R&D expenditure in 2017 almost doubled to RMB 1.1 billion (US$175.7 million), up 96.67% from US$89.2 million in 2016. 

LONGi reported total revenue of RMB 16.362 billion (US$2.59 billion) in 2017, up almost 42% from the previous year. Therefore, R&D spending accounted for 6.77% of revenue in 2017.

According to PV Tech’s long-standing analysis of R&D spending of leading PV module manufacturers, only SunPower has come close when in 2015, R&D spending accounted for 6% of revenue and First Solar topped 5.1% in 2011.
 
However, one of the key metrics is that LONGi surpassed perennial top ranked R&D spenders, First Solar and SunPower, respectively, by a significant margin. Both US headquartered companies cut R&D spending in 2017, the first time for SunPower in four years, while First Solar trimmed R&D spending for the third consecutive year.

LONGi's total R&D expenditure in 2017 almost doubled to RMB 1.1 billion (US$175.7 million), up 96.67% from US$89.2 million in 2016.

In contrast, LONGi has increased R&D spending for six years in row and has maintained a high-level of R&D investment over the last four years.

Initially, LONGi was a dedicated monocrystalline ingot and wafer producer but notably since 2015, the company started production of monocrystalline solar cells and modules. Focused on high-efficiency PERC (Passivated Emitter Rear Cell) technology, R&D spending almost doubled each year since 2016. 

LONGi Green Energy Technology set a new solar industry R&D expenditure record in 2017, not only surpassing the two historical leaders, First Solar and SunPower but spent more in one year than any PV manufacturer to date.

However, in reporting R&D expenditure of US$175.7 million, LONGi also set a new annual solar industry spending record, according to PV Tech’s analysis.
  
First Solar had previously held the record at US$143.9 million, set in 2014. First Solar remains the leader in R&D spending on a cumulative basis, reaching over US$1.11 billion between 2007 and 2017. 

SunPower remains second ranked at over US$663 million in the same time period. However, LONGi has jumped ahead of several other PV manufacturers to take the third ranked position with over US$390 million in cumulative R&D spending since 2012. 

Read Next

March 1, 2021
‘Solar Module Super League’ (SMSL) member First Solar has reported full-year PV module shipments of 5.5GW in 2020, generating net sales of US$2.7 billion.
February 18, 2021
Major ‘Solar Module Super League’ (SMSL) member JinkoSolar has secured a three-year solar glass supply contract with Flat Glass Group, totalling the equivalent of 59GW of PV modules.
February 18, 2021
US solar installer SunPower reported a 2.9% increase in annual revenue in 2020 despite total installations falling 5% in what the company has described as a transformational year.
February 10, 2021
As the technology continues to mature, the race to successfully commercialise and drive heterojunction (HJT) manufacturing to the multi-gigawatt level is getting increasingly competitive. PV Tech spoke to Jinergy chief executive officer Liyou Yang to determine what the remaining challenges are in relation to mass HJT manufacturing, and how close the industry may be to it.
February 10, 2021
Leading monocrystalline wafer producer LONGi Green Energy has signed a three-year high-purity polysilicon supply deal from OCI Malaysia, while securing 46GW of PV glass from China's Flat Glass Co.
February 9, 2021
Major ‘Solar Module Super League’ (SMSL) member JinkoSolar has extended its supply chain cooperation with major polysilicon and merchant solar cell manufacturer Tongwei Group, with Tongwei gaining extra gigawatts of mono wafers from JinkoSolar.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Solar Media Events
May 11, 2021