JinkoSolar Holding Co., Ltd. (JKS - Free Report) recently supplied 300 megawatts (MW) of its high-energy density Tiger panels for installation to an ultra-high voltage demonstration plant of Qinghai Province, China. With this, the company has initiated a ground-mounted utility project for the first time.
Attributes of Tiger Modules
JinkoSolar recently incorporated the Tiling Ribbon technology into its new Tiger module to eliminate the inter-cell gap and enhance efficiency. The new module combines a half-cut cell design to reduce cell current mismatch and ribbon power losses, and delivers significantly higher power output.
R&D Boosts Shipment
JinkoSolar has been making consistent investments in its research and development (R&D) activities, resulting in the development of high-quality Wafer, Cell and Modules, which are being installed in solar projects across the globe.
Notably, in 2018, solar module shipment of the company touched 11.4 gigawatts (GW) and it expects module shipments for 2019 in the range of 14-15 GW. JinkoSolar has already shipped more than 9.7 GW of modules in the first nine months of 2019 and expects to ship 4.2-4.4 GW during the fourth quarter of 2019. The latest module supply of the company seems to be a step toward achieving the aforementioned shipment goals. Increasing shipment of its products hints at an improved revenue generation capacity for this solar player.
Rise of Solar Power on a Global Scale
Per a recent report from the International Renewable Energy Agency (IRENA), global electricity generation from solar energy is expected to increase to nearly 360 GW per year by 2050 from the current level of 109 GW.
Considering such overwhelming projections, solar players across the world are expected to carry on with their ongoing research and development, like JinkoSolar, to produce better-quality solar products. This, in turn, is expected to further reduce the cost of utility-scale solar project installation.
To achieve this cost reduction goal, other solar majors like SolarEdge Technologies, Inc. (SEDG - Free Report) , SunPower Corporation (SPWR - Free Report) and Canadian Solar Inc. (CSIQ - Free Report) will continue to aid utility operators globally in developing solar projects.
Price Movement and Zacks Rank
JinkoSolar’s stock has surged 53.4% in a year compared with the industry’s growth of 30.8%.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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