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JA Solar Holdings Co. Ltd.'s (JASO - Analyst Report) high-efficiency monocrystalline and multicrystalline Cypress solar cells in large-volume production have achieved average conversion efficiency of 19.1% and 17.4%, respectively. However, these monocrystalline and multicrystalline solar cells, on an industry basis, have a conversion efficiency of only 18.8% and 17%, respectively.
These cypress series cells possess superior photoelectric conversion efficiency, excellent solder ability, positive tolerance for cell power compensation, low-current electrical performance parameters and lower encapsulation power loss as a result of high-voltage. These Cypress cells would help in reducing the cost of modules on a per watt basis and ensure a high power output without an increase in the cost of cells.
Six inch full square monocrystalline solar modules of the company’s Cypress series have the capacity to generate power output of 280W, 6-inch standard monocrystalline modules can generate 270W power and six inch multicrystalline solar modules now can produce a power output of 260W. All these three kinds of series have the capacity to generate 5W to 10W higher power in comparison to the industry average.
JA Solar Holdings is one of the world's largest manufacturers of high-performance solar power products. In December last year, the company’s high efficiency Maple solar cells have reached conversion efficiency levels of 18.5% in large volume production. The average conversion efficiency recorded for Maple cells in mass production is 18%, which was well above than the industry standard average conversion efficiency of approximately 16.8% for multi-crystalline solar cells.
These achievements prove that JA Solar Holdings is one of the world's largest manufacturers of high-performance solar power products. The company has been making best use of its potential by supplying solar cells and modules. JA Solar Holdings recently entered into an agreement to supply 47 MW of high-quality, high-efficiency crystalline solar modules to A Shade Greener ("ASG"). A Shade Greener is a PV installer and the largest installer of free solar panels to the residential market in the United Kingdom.
JA Solar Holdings Company is one of the most cost-efficient solar producers with a geographically-diversified customer base and silicon wafer supply agreements that cater to its production. The company benefits from higher shipments, subsidy programs in China, improving operating efficiencies and higher conversion efficiency.
However, given the industry wide high inventory level, we believe margins will decline moving forward. In addition, tepid module demand in Europe, rising competition, wafer dependency, the financial stability of its customers and the oversupply of solar cells may adversely impact the company’s performance over the near term. The company presently retains a short-term Zacks #3 Rank (Hold) that corresponds with our long-term Neutral recommendation on the stock.
Based in Shanghai, China, JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. It is one of the world's largest producers of solar cells. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. JA Solar also produces solar modules that it distributes under its own brand and produces on behalf of solar manufacturers globally.
The company mainly competes with JinkoSolar Holding Co. Ltd. (JKS - Snapshot Report) and ReneSola Ltd. (SOL - Analyst Report).