JinkoSolar's (JKS) Tiger Modules Supply Touches 1-GW Mark

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has announced the supply of one gigawatts (GW) of high-energy density Tiger panels in the first quarter of 2020. Notably, last November, the company started shipping its Tiger product line’s bifacial design. It supplied 300 megawatt (MW) Tiger panels for an ultra-high voltage demonstration plant in Qinghai Province, China. Considering the strong demand, the company expects to reach 10 GW by the fourth quarter of 2020.

Benefits of Tiger Modules

JinkoSolar’s new high-efficiency Tiger module uses 9-busbar Mono PERC and Tiling Ribbon (TR) technology. Incorporation of TR technology eliminates the inter-cell gap and enhances efficiency. With 20.71% efficiency volume production of the TR and TR+ process is one of the fastest. The new Tiger module is capable of generating up to 465 Watt Peak (Wp) of peak power output, which is suitable for both utility and rooftop installations.

Steady Shipment Despite Coronavirus

JinkoSolar is focused on research and development (R&D) activities and keeps investing to produce high-quality Wafer, Cell and Modules, which are being installed in solar projects across the globe. Courtesy of its R&D team, it has been consistently improving the conversion efficiency of its solar modules which has been driving module shipments.

The company expects module shipments for 2020 in the range of 18-20 GW. The latest module supply is a step forward by the company in achieving its shipment goals. We believe the company’s position as the largest and most innovative solar module manufacturer and its constant focus on R&D will boost revenues in the upcoming quarters.

JinkoSolar expects nominal impact on shipments from the COVID-19 outbreak, thanks to the company’s broadly diversified global footprint, localized services teams, multiple hubs and flexible logistics.

Rising Usage of Renewables

Per a report from the International Renewable Energy Agency (IRENA), renewable energy share in global power generation could reach 86% in 2050 from 25% at 2018-end. The IRENA report also mentions that electricity generation from solar energy is expected to increase to nearly 360 GW per year in 2050 from the current level of 109 GW. With increasing demand of solar energy, we believe that the demand for solar modules will enhance the company’s expertise while recent business developments will boost earnings.

Other solar module developers like First Solar, Inc. (NASDAQ:FSLR) , SunPower Corporation (NASDAQ:SPWR) and Tesla, Inc. (NASDAQ:TSLA) are expected to benefit from the rising demand for solar modules.

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