JinkoSolar Holding Company, Ltd. JKS has achieved a major milestone in solar technology. The company’s N-type TOPCon-based perovskite tandem solar cell has set a new record with an impressive conversion efficiency of 33.84%. It is verified by the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences. This achievement marks the 27th time JinkoSolar has broken global records in efficiency and power output for solar products.
The advanced solar cell combines JinkoSolar’s high-efficiency N-type TOPCon technology with innovations like full-area passivated contact technology, perovskite interfacial defect passivation technology and bulk defect passivation technology. This breakthrough surpasses the efficiency limits of traditional silicon solar cells.
The highly efficient solar cells are developed through ongoing research and development activities at the company. The new solar cells can bring down the cost of setting up utility-scale solar projects and generate more orders for JinkoSolar Holding.
JinkoSolar's Presence in Solar Industry
JinkoSolar provides solar panels and energy storage solutions with a focus on new and efficient technologies. The company follows a vertically integrated process, meaning it handles everything from making silicon wafers and solar cells to assembling the final modules. This approach helps maintain high quality and efficiency in its products while meeting the growing demand for clean energy worldwide.
JinkoSolar has more than 10 factories in China, the United States, Southeast Asia and the Middle East.
Growth Prospects for JKS & Its Peers
The solar energy market is set to grow significantly due to supportive government policies, falling costs of solar panels, and installation and advancements in solar energy storage systems. Solar photovoltaic (PV) systems are leading this growth as they provide a scalable and reliable way to meet rising electricity demand driven by population growth, urbanization and electrification.
This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 31.9% for the global solar market during the 2025-2030 period.
Other solar companies that are likely to benefit from the expanding solar market are discussed below:
Emeren Group Ltd. SOL has an impressive solar development project pipeline of 7,684 MW, 5,182 MW of which are in the early stage and 2,502 MW in the advanced stage.
The Zacks Consensus Estimate for SOL’s 2025 earnings per share is pegged at 29 cents, indicating year-over-year growth of 193.3%. The Zacks Consensus Estimate for 2025 sales stands at $144.6 million, indicating year-over-year growth of 46.4%.
First Solar, Inc. FSLR is investing heftily to expand its manufacturing capacity. Such expansion plans are likely to enable it to achieve its production target of 15.6-16 gigawatts of solar modules by the end of 2024.
The Zacks Consensus Estimate for FSLR’s 2025 earnings per share is pegged at $20.24, indicating year-over-year growth of 54.4%. The Zacks Consensus Estimate for 2025 sales stands at $5.52 billion, suggesting year-over-year growth of 32.5%.
SolarEdge Technologies SEDG is a leading provider of an optimized inverter solution. In June 2024, it launched its SolarEdge ONE AI-based energy optimization system for homeowners with a dynamic rate plan in Germany.
The company has a long-term earnings growth rate of 1.2%. The Zacks Consensus Estimate for SEDG’s 2025 earnings per share indicates year-over-year growth of 32.4%.
JKS Stock Price Movement
JKS shares have risen 38.7% in the past six months against the industry’s 22.9% decline.
Image Source: Zacks Investment Research
JKS’ Zacks Rank
JKS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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