Solar power currently constitutes nearly 1% of the world’s electricity generation, but the growth of the global solar industry is faster than ever before. The increasing demand for solar power and solar facilities such as solar panels and rooftop solar system has led to an increase in R&D spending by the world’s leading solar companies. According to This trends in R&D spending are positively impacting the market coupled with the continued pace of new technology adoption. On contrary, the market is negatively impacted by individual company’s technology development cycles and financial condition.
The Energy industry are one of the largest industry globally. For the latest reports on solar industry, please click here. Techanvio’s latest market report suggests that the global rooftop solar market will register a CAGR of more than 9% by 2022.
Top 10 Largest Solar Companies in the World 2018
Trina Solar
Trina Solar is a one of the largest solar companies and a leading global total solution provider for solar energy. It develops proprietary smart PV solutions for large power stations as well as commercial and residential solutions, energy storage systems and photovoltaic modules. It is also evolved into a brand in the world of energy IoT (internet of things).
Headquarters:
China
Revenue:
more than USD 2.04 billion (until second quarter 2018)
Highlights:
- Trina Solar’s industrial innovation center will partner with leading companies and research institutes both in and outside of China. This partnership aims to create an innovation platform for the research of new energy IoT through establishing innovation systems such as new energy power generation and storage technology, which also includes smart terminals, energy management and energy cloud.
- The company acquired Spain-based Nclave Renewable S.L., the world’s leading solar tracker system manufacturer. This acquisition will help, Trina to develop an alternative and renewable energy solutions that work in concert with the Internet of Things ecosystem.
- The company has been named as the most ‘bankable’ PV module manufacturer globally by
Related market research: Global Solar Microinverter Market 2018-2022
JinkoSolar
JinkoSolar is one of the world’s largest solar companies specialized in solar module manufacture ring. It distributes solar products and sells its solutions and services to many international utility, commercial and residential customer. It has built a vertically integrated solar product value chain, with an integrated annual capacity of 9 GW for silicon ingots and wafers, 5 GW for solar cells, and 9 GW for solar modules.
Headquarters:
China
Revenue:
USD 0.91 billion (Second quarter 2018)
Highlights:
- JinkoSolar partnered Edisun Microgrids to develop the Eagle PowerTrack, a performance bundle for commercial and industrial (C&I) rooftops. This will feature JinkoSolar’s Eagle G2 modules in combination with Edisun’s PV Booster which is a rooftop tracking technology.
- The company is focusing on Africa has the highest potential for renewable energy, as its actively promoting its leading photovoltaic technology and products, which acquired more than 30% of the share in the region.
Canadian Solar
Canadian Solar is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development, making it one of the largest solar companies in North America.
Headquarter:
Canada
Revenue:
Second quarter of 2018 was USD 0.65 billion
Highlights:
- The company launched P4-based BiHiKu module, which is a combination of three industry leading solar PV technologies in one new 400+ Watt module: the latest black silicon, poly PERC, and bifacial cell technologies.
- The company received a contract to supply 164 MW of photovoltaic (PV) modules to the 350 MWp Escatrón Solar power project owned by COBRA Group, a subsidiary of ACS Group in Spain.
Related market report: Global Solar Thermal Market 2018-2022
JA Solar
JA SOLAR is one of the world’s leading solar companies and the largest manufacturers of high-performance photovoltaic (PV) products, with a business portfolio including wafers, cells, modules and photovoltaic power stations. JA SOLAR products are operating in over 100 countries and regions. They are used extensively in utility scale power plants, commercial and institutional applications and residential rooftops.
Headquarter:
China
Revenue:
USD 0.87 billion (2017)
HIGHLIGHTS:
- The company expands solar plant in Namibia Africa. This plant marks the first half-cell modules project in Namibia and represents JA Solar’s first application of half-cell modules in utility scale projects.
- The company supplied all solar modules to South Australian Water Corporation (“SA Water”) for its 4.14MW coastal photovoltaic project. The project is part of SA Water’s efforts to achieve zero net electricity costs, which is of great significance in promoting the development of new energy in Australia.
Hanwha Q CELLS
Hanwha Q CELLS is a photovoltaic manufacturers for its high-performance, high-quality solar cells and modules. The company has diverse international manufacturing facilities in Malaysia and China. It offers the full spectrum of photovoltaic products, applications and solutions, from modules to kits to systems to large-scale solar power plants.
Headquarter:
Germany
Revenue:
USD 0.51 billion (2018 first two quarters)
Highlights:
- The company installed partnered with Solarcentury to install Q CELLS modules atop 600 London households. This project is part of Mayor of London’s Solar Together London scheme, launched across five city boroughs of Brent, Ealing, Kingston, Merton and Sutton.
Related market report: Solar PV Systems Market in Asia 2018-2022
GCL System Integration Technology
GCL S.I. is operating in five module production bases in mainland China and one in Vietnam, with production capacity of 6GW, and an additional 2GW of high-efficiency battery capacity, making it a world-class module producer. It offers a wide range of high-quality products for a variety of application environments, including modules of standard 60/72-piece, dual-glass, high-efficiency polysilicon PERC, and half-cell etc.
Headquarter:
China
Revenue:
USD 0.00379 billion approx. (in first half of 2018)
Highlights:
- The company partnered with Solarpro Holding AD (Solarpro) to deliver 21 MW Poly Perc modules for the construction of MET Dunai Solar Park (“the Park”) which is one of the largest photovoltaic power plants in Hungary.
LONGi Solar
LONGi is a world leading manufacturer of high-efficiency mono-crystalline solar cells and modules. The company has been focusing on MONO and is the largest supplier of mono-crystalline silicon wafers. It is focusing on its R&D, production and sales & marketing of mono-crystalline silicon products.
Headquarters:
Malaysia
Revenue:
USD2.60 Billion
Highlights:
- LONGi renewed its alliance with the University of New South Wales (‘UNSW’), to strengthen LONGi Solar’s technology leadership in the photovoltaic industry.
- The company has signed a Memorandum of Intent (MOI) with the Tunisian project developer SHAMS Technology which will develop PV projects in African markets.
- In the latest “2018 PV Module Brand Bankability Report”, Bloomberg New Energy Finance (BNEF) ranks LONGi Solar the top 3 most bankable PV module brand with 1,025MW of loan-financed PV projects in the past two years.
Risen Energy
Risen Energy was founded in 1986 and is a leading China-based PV solutions provider. Risen Energy (Australia) has had an established presence in the Australian market since 2008, supplying solar PV panels for the retail market.
Headquarter:
China
Revenue:
US$1.56 billion (2017)
Highlights:
- The company to acquire Merredin Solar Farm, to develop Solar PV farm at Merredin in Western Australia’s central wheatbelt.
- Risen Energy acquired Yarranlea Solar Pty Ltd where both will undertake The Yarranlea Solar Farm project. This project will involve detailed engineering design to construction, commissioning and thereafter own and operate the solar farm.
Related market report: Global Concentrated Solar Power Market 2018-2022
Yingli Green
Yingli Green is one of the world’s leading solar companies and solar panel manufacturers. The company is manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly.
Headquarter:
China
Revenue:
USD 1.2 billion (2017)
First Solar
First Solar is a provider of comprehensive photovoltaic solar systems which use its advanced module and system technology. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment.
Headquarter:
USA
Revenue:
USD 0.03 billion (2018 third quarter)
HIGHTLIGHTS:
- The company announced its plans to build a new solar module manufacturing facility near its existing Perrysburg, Ohio flagship plant.
- The company and Vectren Energy Delivery of Indiana (Vectren) partnered to build the 50-megawatt (MW) solar array and will consist of about 150,000 solar panels.
Related market report: Solar Thermal Market in Europe 2018-2022
Market Forecast: Future of the Top Solar Companies
The companies are investing towards technological innovations, high performance with sustainable infrastructure which will enable the market growth in the near future. The leading players are also focusing on making some significant change, with solar power becoming the most widely installed renewable power source. This includes, the change towards renewable energy IoT with a focus on distributed power generation as well as power storage. The companies like Trina Solar are focusing towards efficient interactions and cooperation between downstream and upstream players, with the aim of solving China’s key challenges in the alternative, renewable and sustainable energy field. While other major solar companies are coming up with innovative scheme to make solar more accessible to homeowners.
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