Tier 1 Solar Longi VS Jinko
In recent years, the solar energy industry has expanded rapidly and experienced a technological revolution. The focus of this revolution has shifted from quantity and speed to innovation and efficiency, laying the foundation for high-quality development. The current iteration of solar cell technology is accelerating diversification, with the emergence of multiple technology routes such as TOPCon, HJT and XBC that branch out from the traditional PERC route.
The purpose of this article is to conduct a comprehensive comparative analysis of two leading companies in the solar industry - Longi and Jinko. This analysis will examine these companies' technological advantages, product offerings, and market shares, aiming to provide readers with a deeper understanding of the current state of the solar industry and better inform purchasing decisions.
Product Offering:
Longi is mainly engaged in the research and development, production and sales of monocrystalline silicon rods, silicon wafers, cells and modules. Among them, the solar module and battery business accounts for about 66% of the revenue, and the silicon wafer and silicon rod business accounts for about 30% of the revenue, of which domestic business accounts for 56.23% and overseas business accounts for 43.77%.
Longiis known for its high-efficiency monocrystalline modules, which are used in residential, commercial and utility-scale projects. Its flagship product Hi-MO4 is a high-end monocrystalline component with a maximum efficiency of 22.6%. This solution is targeted at customers looking for high energy production without compromising the aesthetics of the installation. Longi also provides Hi-MO3 modules with an efficiency of up to 21% and Hi-MO X modules with a maximum output power of more than 600W.
In October 2023, Longi Green Energy released the Hi-MO X6 high-efficiency anti-dust accumulation photovoltaic module in Xi'an Datang Evernight City. The frame of the module has an anti-dust accumulation design and uses rainwater to wash away dust to solve the problem of distributed photovoltaics. The market has been a pain point for many years.
Panda U+ series is based on the advantages of Yingli N-type TOPCon technology. The maximum output power of the module is 590 W. The overall efficiency can be increased by 5% compared with conventional products. It also has the advantages of small system loss and higher efficiency, and can generate more power in a limited distributed area. Quantity etc.
Jinko is mainly engaged in the research and development, production and sales of solar modules, cells and silicon wafers, as well as the application and industrialization of photovoltaic technology. Among them, solar module revenue accounts for about 96%, and other business revenue such as cells accounts for about 4%, of which domestic business accounts for about 38% and overseas business accounts for about 62%.
Jinko Solar offers a range of modules including monocrystalline, multicrystalline, half-cell and bifacial modules. Among them, the efficiency of Cheetah HC modules is as high as 20.33%, the output power of Swan bifacial modules is as high as 430W, and the maximum output power of Tiger Pro HC modules is 665W. Jinko aims to provide comprehensive solar solutions to meet the diverse needs of customers.
Jinko Solar's TOPCon battery has a clear path to improve efficiency in the future: on the basis of achieving an average efficiency of 25.8% in mass production by the end of 2023, it will achieve a full-line efficiency of 26.5% in 2024 without the need for too many high-precision equipment. At the same time, through production Optimization and material optimization have reached an efficiency level of about 27%, and combined with new technology reserves, it will reach 27%-27.5% in the next two to three years.
Market Share:
In 2023, Jinko will rely on the continued increase in the penetration rate of N-type TOPCon modules to achieve a year-on-year growth of approximately 70% in module shipments of nearly 80GW, surpassing LONGi, which has ranked first for three consecutive years, and the company that "pressed itself" in 2022. "Trina took the top spot again after three years.
LongiGreen Energy's silicon wafer production capacity is planned to be 190GW by the end of 2023, with a total investment of 45.2 billion. The 100GW monocrystalline silicon wafer project in Xian District, Shaanxi Province has started construction. If this project is fully put into production, LongiGreen Energy's silicon wafer production capacity will reach 290GW.
In terms of shipments, in the first half of 2023, LongiGreen Energy achieved monocrystalline silicon wafer shipments of 52.05GW, including 22.98GW for external sales and 29.07GW for self-use.
Technical advantages:
Among the 2024 goals announced by Jinko, the first one is to exceed 100GW of N-type production capacity (including cells and components). Other goals include "TOPCon mass production cell efficiency of 26.5%+, ranking first in the industry" and other new production capacity It is expected that the company's component shipments will further increase in 2024, driven by the accelerated release of N-type production capacity.
In 2024, n-type module shipments will account for more than 60%, including five Top9 module companies that have proposed an n-type share target of more than 70%, with the highest reaching 85%. In addition, three companies have set the n-type share target at 100% in 2024, reflecting their confidence in the future technology iteration trend of the photovoltaic industry.
Longi, which is betting on the BC route, does not seem to have an advantage at the moment and is under greater pressure on performance. However, judging from recent trends, its BC battery production capacity has gradually been put into production. The distributed Hi-MOX6 new photovoltaic modules using self-developed HPBC technology have also entered the market, and the company's leadership firmly stated that the BC route will be the next 5-6 years. mainstream. Whether the company can "overtake in corners" through the BC route in 2024 and once again compete for the first place in component shipments remains worthy of attention.
Summarize
Jinko Solar is the first company to build TOPCON. Its TOPCON technology is mature, and its conversion efficiency and production cost are industry-leading. It is a representative of N-type vertical integration. In 2023, it will rank first in module shipments with 78.5GW! This year, the goal of other leading companies is to catch up with Jinko Solar.
Longireleases Hi-MO X6, an anti-dust accumulation component equipped with BC technology, targeting the distributed market. LongiGreen Energy stated that it is accelerating the layout of a new round of technology cycle and production capacity switching. As the inventory of old production capacity is gradually cleared, the dividends of the new round of technology cycle will gradually appear.