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JinkoSolar (JKS) Introduces G2 Battery in the European Market
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JinkoSolar Holding Co., Ltd. (JKS - Free Report) recently introduced its second-generation (G2) energy storage battery, JKR-B1250~2750-A, in the European market at Intersolar Europe. With this launch, Jinko Solar aims to strengthen its presence in the battery storage segment of the solar industry of the European market.
Significance of JKR-B1250~2750-A
JKR-B1250~2750-A is a highly powered energy storage system, mainly intended for residential and small commercial applications. Apart from the high-performance capability, the battery ensures the highest level of security and safety with its anti-fire design. The battery is also designed in a way to encourage less energy consumption while attaining a high degree of quality control and enhanced efficiency.
Such remarkable features that ensure sustainability and reliability are likely to increase the prospects of JinkoSolar in the battery storage business and boost its revenues.
JinkoSolar’s Growth Prospects in the European Market
Per the report from Mordor Intelligence, Europe’s energy storage market is projected to witness a CAGR of 18% over the 2023-2028 period. With such high-growth prospects, JinkoSolar’s recent launch in the European battery storage market may prove prudent and is likely to support significant orders and demand for its new product.
Also, as JinkoSolar strives to strengthen its footprint and customer base in the region through a strong distribution channel and lucrative partnerships, the company may gain from the growing demand and establish a robust presence in the European solar market.
Solar Companies Focus on the European Battery Storage Market
Europe’s battery storage market offers significant growth opportunities amid high energy prices. The rising energy bills partially supported the wider adoption of renewable sources in the region, along with an integrated battery storage system.
Apart from JinkoSolar, solar companies that have carved a niche or are planning to establish a position in the battery storage segment of the European solar market are as follows:
Enphase Energy (ENPH - Free Report) : It enjoys a valuable position in the European solar market. In June 2023, the company witnessed the heightened demand for Enphase Energy Systems in Austria, powered by IQ Microinverters and IQ Batteries. The company plans to introduce IQ Batteries in many countries in Europe throughout the year.
Enphase boasts a long-term earnings growth rate of 24.7%. Shares of ENPH have improved 11.4% in the past month.
Canadian Solar (CSIQ - Free Report) : Its EP Cube is an all-in-one energy storage solution for residential applications. The company introduced EP Cube in Spain and Italy in the first quarter of 2023 and now plans to launch it in Germany in the days ahead.
The Zacks Consensus Estimate for Canadian Solar’s 2023 sales suggests an improvement of 24.4% from the last year’s comparable figure. The Zacks Consensus Estimate for CSIQ’s 2023 earnings has been revised upward by 9.9% in the past 60 days.
SolarEdge Technologies, Inc. (SEDG - Free Report) : It unveiled its Commercial Storage System (“CSS”) at Intersolar Europe and plans to make it commercially available in the second half of 2024. The highly-efficient DC-coupled CSS provides 58 kilowatt-hours of battery capacity and is suitable for indoor use.
SolarEdge has a long-term earnings growth rate of 33.4%. Shares of SEDG have increased 6.8% in the past year.
Price Movement
In the past month, shares of JinkoSolar have risen 1% compared with the industry’s growth of 2.9%.
Image: Bigstock
JinkoSolar (JKS) Introduces G2 Battery in the European Market
JinkoSolar Holding Co., Ltd. (JKS - Free Report) recently introduced its second-generation (G2) energy storage battery, JKR-B1250~2750-A, in the European market at Intersolar Europe. With this launch, Jinko Solar aims to strengthen its presence in the battery storage segment of the solar industry of the European market.
Significance of JKR-B1250~2750-A
JKR-B1250~2750-A is a highly powered energy storage system, mainly intended for residential and small commercial applications. Apart from the high-performance capability, the battery ensures the highest level of security and safety with its anti-fire design. The battery is also designed in a way to encourage less energy consumption while attaining a high degree of quality control and enhanced efficiency.
Such remarkable features that ensure sustainability and reliability are likely to increase the prospects of JinkoSolar in the battery storage business and boost its revenues.
JinkoSolar’s Growth Prospects in the European Market
Per the report from Mordor Intelligence, Europe’s energy storage market is projected to witness a CAGR of 18% over the 2023-2028 period. With such high-growth prospects, JinkoSolar’s recent launch in the European battery storage market may prove prudent and is likely to support significant orders and demand for its new product.
Also, as JinkoSolar strives to strengthen its footprint and customer base in the region through a strong distribution channel and lucrative partnerships, the company may gain from the growing demand and establish a robust presence in the European solar market.
Solar Companies Focus on the European Battery Storage Market
Europe’s battery storage market offers significant growth opportunities amid high energy prices. The rising energy bills partially supported the wider adoption of renewable sources in the region, along with an integrated battery storage system.
Apart from JinkoSolar, solar companies that have carved a niche or are planning to establish a position in the battery storage segment of the European solar market are as follows:
Enphase Energy (ENPH - Free Report) : It enjoys a valuable position in the European solar market. In June 2023, the company witnessed the heightened demand for Enphase Energy Systems in Austria, powered by IQ Microinverters and IQ Batteries. The company plans to introduce IQ Batteries in many countries in Europe throughout the year.
Enphase boasts a long-term earnings growth rate of 24.7%. Shares of ENPH have improved 11.4% in the past month.
Canadian Solar (CSIQ - Free Report) : Its EP Cube is an all-in-one energy storage solution for residential applications. The company introduced EP Cube in Spain and Italy in the first quarter of 2023 and now plans to launch it in Germany in the days ahead.
The Zacks Consensus Estimate for Canadian Solar’s 2023 sales suggests an improvement of 24.4% from the last year’s comparable figure. The Zacks Consensus Estimate for CSIQ’s 2023 earnings has been revised upward by 9.9% in the past 60 days.
SolarEdge Technologies, Inc. (SEDG - Free Report) : It unveiled its Commercial Storage System (“CSS”) at Intersolar Europe and plans to make it commercially available in the second half of 2024. The highly-efficient DC-coupled CSS provides 58 kilowatt-hours of battery capacity and is suitable for indoor use.
SolarEdge has a long-term earnings growth rate of 33.4%. Shares of SEDG have increased 6.8% in the past year.
Price Movement
In the past month, shares of JinkoSolar have risen 1% compared with the industry’s growth of 2.9%.
Image Source: Zacks Investment Research
Zacks Rank
JinkoSolar currently sports a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.