Today solar is a multi-billion industry with a lot of million-dollar companies working in it. In the race of improving solar panels, many new industry leaders have been born, are contributing and trying to outperform (not in a shitty way but by being better) others to amplify their sales. Chinese companies turned out to be revolutionary and topping the list in relation to every solar thing, whether you talk about production or shipment or efficiency. So do you want to know who these giant companies are? Here we have enumerated the top 12 solar panel companies by revenue.
So without further ado, let’s get into the article straight away;
Top 12 Solar Panel Companies by Revenue (Statistics from 2019 and 2020 performance)
Solar companies are usually not confined to producing or manufacturing solar panels, but they are also into the manufacturing of other solar-related products, so most of the companies listed below are not only solar panel manufacturers.
Declaration: The information in this article has been gathered rigorously from authentic sources as much as possible, and it is based on 2019/2020 statistics.
So let’s start with the largest solar panel company by almost every aspect;
China is sort of the centre of many of the largest solar companies. Jinko Solar is known as the world’s largest solar panel company globally, with headquarter in Shangai.
The company’s full-year revenue was US$5.38bn in 2020, with an 18% growth rate.
Furthermore, it had a record shipment of 14.2GW in 2019.
It manufactures solar panels, modules, and other solar energy-related products. China, South America, Europe, the U.S. are one of their prominent customers.
Candian Solar manufactures solar cells, modules, off-grid home systems, solar power systems, inverters, and solar energy-related products. It is a public traded company that runs large-scale solar projects.
Its net revenue in 2020 was 3.5 billion USD with 3,169 MW solar modules shipment.
The production in bulk occurs in Canada and China.
You can get more insights into their yearly financial performance here.
JA Solar is another one of the high solar panel shipping companies. Its production bracket includes solar cells, modules, silicon wafers, and a complete photovoltaic power system.
JA Solar shipped 15.88GW in 2020, following 10.26GW in 2019, and earned $3.93 billion in 2020, which was 22% more than the previous year.
JA Solar has headquarter located in china. The company is quite into the manufacturing of monocrystalline and multicrystalline solar cells.
You can read more here about their facts related to their financial performance.
First Solar is an American solar panel manufacturer. It provides utility-scale PV power plants and other supporting services like construction, maintenance, financing, and end-of-life panel recycling.
First Solar revenue has been on a roller coaster for years. Its net revenue in 2019 was $3.3 billion. And now, it was expected to be falling between $2.6 billion and $2.9 billion for 5.8GW to 6.0GW shipment for 2020.
Despite good production in 2019, it could not perform well in 2020
First Solar uses thin-film semiconductor technology to produce better efficiency and
Hanwha Q Cells
Hanwha Q Cells, which is also known as Q Cells, manufactures solar panels. It is based in Seoul, South Korea.
Its net revenue in 2019 was $2.1 billion. According to some reports, it has generated $2.2 billion.
SunPower is an American company manufacturing silicon photovoltaic cells, modules, solar power systems, and energy-related products. Its recorded revenue was 1.1 billion U.S. dollars in 2020, following 1.8 billion U.S dollars in the previous year.
Furthermore, you can see SunPower’s annual performance by revenue (ups and downs) here.
Yingli Solar is a solar panel manufacturing company with headquarter in Baoding, China.
It generated $650 million as revenue in 2019 and $700 million in 2020. But according to Investopedia, it recorded $1.2 billion in 2020 as full-year revenue.
Yingli Solar manufactures and designs photovoltaic cells. It is also into the conduction of solar energy-related research.
LONGi Solar is one of the highly efficient and cost-effective solar panel manufacturers. It is one of the leading mono crystalline solar module manufacturers.
LONGi’s 2019 revenue was $4756.7 million, which was 49.62% more than the previous year.
Trina Solar is another amazing photovoltaic solar panel manufacturer from china. It has delivered 66GW so far by Dec 2020. Its first six-month revenue of 2020 was $1.9 billion.
Besides that, Trina Solar manufactures and sells solar energy-related products. It also emphasizes on research and development of PV products.
Risen Energy has secured a net profit of US$148.4 million in 2019. Its revenue has been increasing for years. Lately, it is trying to expand its production to the next level.
Zhongli Talesun is one of the subsidiaries of Zhongli Sci-Tech Group (a combination of six companies). It is another high-quality manufacturer from China offering photovoltaic cells and modules.
Suntech Power is a Chinese producer of solar panels, delivering hundred of megawatts every year. And not to mention, this company has been scammed once of 500 million euro. But this company never stopped. Moreover, here are a few statistics;
Suntech Power is restoring, and its annual revenue was $1115 million.
Indeed, the solar industry is booming right now and do in the future as well. Companies’ revenue will keep going through a roller coaster ride, so the company with the implementation of modern technology and less usage of nonrenewable resources in their solar panels’ production would have chances to be Burj Khalifa among normal empires. And one thing more:
Let us know your thought on these companies in the comment section.