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The entire range of JA Solar Holdings Co., Ltd.’s (JASO - Analyst Report) modules have received Underwriters Laboratories (“UL”) 1703 certification and ETL certification in the United States and Canada. Underwriters Laboratories is a global independent safety science company. Post-certification, the company’s modules are permitted to be used on 1,000 Vdc systems.
To get UL 1703 certification, these modules were tested in Intertek laboratories. The certification proves that modules from JA Solar Holdings comply with the requirements of widely accepted product safety standards.
Recently the company’s PV modules series have successfully cleared salt mist corrosion and sulfur dioxide corrosion tests. These tests confirm that JA Solar's products offer exceptional reliability even in severe environments.
In fact, JA Solar modules are in high demand throughout the world. In January this year, the company completed the delivery of 9.5 MW of PV modules to the Volkswagen Solar Park. The 9.5 MW installation consists of 33,600 high-performance multi-crystalline silicon PV modules.
There are other companies in the industry which have also benefited from these certifications. Last month ReneSola Ltd’s (SOL - Analyst Report) 72-cell polysilicon modules were certified by UL as meeting required standards for use in PV systems of up to 1,000 volts. Also, the company’s 60-cell and 72-cell modules were listed by UL as meeting the required standards for use in PV systems of up to 600 volts.
Earlier, in Oct 2012, First Solar Inc.’s (FSLR - Analyst Report) advanced thin-film Series 3 photovoltaic (PV) solar modules were provided UL1703 and ULC1703 from UL to be used in PV systems of up to 1,000 volts.
Based in Ningjin of the Hebei province in the People’s Republic of China, JA Solar Holdings Company Ltd. manufactures high-performance solar cells. JA Solar’s principal customers are solar module manufacturers, who assemble and integrate its products into modules and systems.
The world is moving towards renewable sources of energy, thereby increasing the demand for solar modules. The company sells primarily to customers in China, Europe and the U.S. The company has also entered new markets like Greece, Portugal, France, Italy and South Korea.
The certification conclusively proves that the modules of JA Solar are fit for a wide range of solar installations. This official recognition would place the company in a strong position and boost its module demand.
However, we remain concerned about the industry-wide high inventory level, tepid module demand in Europe, rising competition, wafer dependency and the financial stability of its customers. The company presently retains a short-term Zacks Rank #4 (Sell).
In the near term, we would advise investors to accumulate its short-term Zacks #2 Rank (Strong Buy rating) peer SunPower Corporation (SPWR - Analyst Report).