PV Tech’s top 10 R&D spenders in 2018

Facebook
Twitter
LinkedIn
Reddit
Email
LONGi Group increased R&D expenditure from US$175.5 million in 2017, to US$182.7 million in 2018, marking the seventh consecutive year of increased spending and setting a second consecutive year of record spending in the PV industry. No surprise then that LONGi Group was ranked first in PV Tech’s annual R&D spending report for 2018. Image: LONGi Solar

Based on analysis of 21 PV manufacturers that were listed on various stock exchanges around the world in 2018, PV Tech can reveal the top 10 R&D spenders. 

As shown in the chart below, LONGi Group increased R&D expenditure from US$175.5 million in 2017, to US$182.7 million in 2018, marking the seventh consecutive year of increased spending and setting a second consecutive year of record spending in the PV industry. No surprise then that LONGi Group was ranked first in PV Tech’s annual R&D spending report for 2018.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Based on analysis of 21 PV manufacturers that were listed on various stock exchanges around the world in 2018, PV Tech can reveal the top 10 R&D spenders.

What may be surprising is that Hanergy Thin Film (now renamed Hanergy Mobile Energy Group) had become the second biggest spender on R&D in 2018, reporting expenditure of US$134.6 million, up from US$79.2 million in the previous year when it was ranked fifth. 

It should also be noted that both LONGi Group and Hanergy Thin Film were the only companies tracked that surpassed over US$100 million in R&D spending in 2018.
Despite a significant reduction in year-on-year spending, GCL Group was ranked third with spending of US$91.4 million, down from US$165.2 million in 2017, when ranked second only to LONGi Group.
 
Moving up the rankings was Tongwei Group, reporting R&D expenditure of US$88.8 million in 2018, compared to US$53.4 million in the previous year. The company was therefore ranked fourth in 2018, up from seventh in 2017. 

Dropping down one position in the rankings was First Solar and SunPower with spending of US$84.5 million and US$81.7 million, respectively in 2018. First solar was ranked fifth and SunPower was ranked sixth highest R&D spenders in 2018. 

Zhongli Talesun, which has been included in the report for the first time had R&D expenditure of US$77.9 million in 2018, up from US$69.8 million in the previous year. The company would have been ranked sixth in 2017 but actually falls one position to seventh in 2018. 

Tianjin Zhonghuan Semiconductor (TZS) is another new entrant to the report. The company had R&D expenditure of US$59.9 million in 2018, up from US$53.5 million in the previous year. As a result it was ranked eighth, down one position if it had been represented in the 2017 report.
 
Leading SMSL, JinkoSolar increased R&D spending to US$53.3 million in 2018, up from US$45.2 million in 2017. Although record spending for the company, its ninth ranked position meant it dropped from being ranked eighth in 2017.
 
Risen Energy lowered R&D spending in 2018 to US$49.2 million, compared to US$56.4 million in the previous year. As a result, dropping from being ranked sixth in 2017 to tenth in 2018.

The chart below shows the top R&D (ranked) spenders in 2014 and tracks spending over the last five year period. It also includes several companies that were not ranked in 2014 but are firmly in the leader rankings in 2018. Subsequently, two companies (Yingli Green and Hareon) that were ranked in 2014 have dropped out of the rankings since then.
 
It is interesting to note that to have been a top 10 ranked spender in 2014, meant expenditure of at least US$30 million, while in 2018 the figure starts at US$50 million. 

It is interesting to note that to have been a top 10 ranked spender in 2014, meant expenditure of at least US$30 million, while in 2018 the figure starts at US$50 million.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Premium
September 25, 2025
An anticipated uptick in US cell manufacturing presents opportunities for European PV tool producers, says RENA Technologies’ Michael Vees.
September 23, 2025
JinkoSolar and LONGi Green Energy have agreed to terminate ongoing patent lawsuits, and enter into a 'cross-licensing agreement'/
September 18, 2025
Researchers have called for enhanced international standards to detect ultraviolet-induced degradation (UVID) in PV modules after identifying “severe” levels of the problem in operational n-type panels.             
September 18, 2025
Indian PV makers have welcomed the government’s plan to add solar wafers to its ALMM List-III from June 2028.
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA