Introduction: The Growth of the Solar Photovoltaic Market
Over the past two decades, the solar photovoltaic (PV) market has grown from a small-scale, niche industry to one of the primary energy sources driving the global transition to renewable energy. This rapid development is attributed to significant reductions in solar module costs (an 85% drop since 2010), technological innovation, and government incentives. In 2024, global PV installations exceeded 300 GW, with solar power contributing significantly to decarbonizing energy systems. This article delves into nine of the largest solar panel manufacturers and their role in shaping this dynamic industry.
Summary Table of the 9 Largest Solar Panel Manufacturers
| Company | Date of Establishment | Number of Employees | Solar Panel Shipments (2024) | Country |
|---|---|---|---|---|
| LONGi Solar | 2000 | 85,000 | 54 GW | China |
| JinkoSolar | 2006 | 40,000 | 52 GW | China |
| Trina Solar | 1997 | 20,000 | 40 GW | China |
| Canadian Solar | 2001 | 14,000 | 32 GW | Canada |
| First Solar | 1999 | 9,200 | 18 GW | USA |
| JA Solar | 2005 | 32,000 | 36 GW | China |
| Hanwha Q CELLS | 1999 | 10,000 | 16 GW | South Korea |
| REC Solar | 1996 | 2,000 | 5 GW | Norway |
| SunPower | 1985 | 8,000 | 6 GW | USA |
Detailed Company Analyses of 9 Largest Solar Panel Manufacturers
1. LONGi Solar
Corporate Background: Founded in 2000 in Xi’an, China, LONGi Solar is a leader in monocrystalline solar technology. Initially specializing in silicon wafers, LONGi transitioned to producing high-efficiency solar modules, becoming the global leader in module shipments.
Company Profile: LONGi’s portfolio includes monocrystalline PERC, bifacial, and TOPCon modules. The company has a strong focus on R&D, allocating 6-7% of its annual revenue to innovation.
Development Status: In 2024, LONGi shipped 54 GW of solar panels. It maintained its market leadership by expanding production capacity to over 130 GW annually and forming strategic partnerships with utility-scale project developers worldwide. LONGi’s modules are widely used in large-scale projects in China, the U.S., and the Middle East.
2. JinkoSolar
Corporate Background: Established in 2006, JinkoSolar has risen rapidly to become one of the most prominent players in the PV industry. The company is headquartered in Shanghai, China, with operations spanning over 160 countries.
Company Profile: JinkoSolar’s Tiger Neo modules incorporate N-type TOPCon technology, offering industry-leading efficiency and durability. It also invests heavily in sustainable manufacturing processes.
Development Status: In 2024, JinkoSolar shipped 52 GW of panels, with a strong presence in Europe, the Americas, and Asia. The company expanded its global manufacturing footprint, including a state-of-the-art facility in the U.S., to address supply chain diversification and meet local content requirements.
3. Trina Solar
Corporate Background: Founded in 1997 in Changzhou, China, Trina Solar was one of the first Chinese companies to enter the solar market. It played a pioneering role in globalizing solar technology.
Company Profile: Known for its Vertex series, which offers power ratings of up to 700W, Trina Solar targets utility-scale and distributed generation markets. It has also ventured into energy storage and smart energy solutions.
Development Status: Trina Solar shipped 40 GW of panels in 2024 and expanded its energy storage business, reaching a cumulative installation capacity of 10 GWh. It continues to strengthen its position in the U.S., Europe, and emerging markets like Africa and Southeast Asia.
4. Canadian Solar
Corporate Background: Headquartered in Ontario, Canada, Canadian Solar was founded in 2001 and quickly gained a reputation for high-quality products. The company operates in over 23 countries.
Company Profile: Canadian Solar is a vertically integrated manufacturer, producing solar modules and energy storage solutions. Its HiKu6 and BiHiKu7 modules are recognized for efficiency and cost-effectiveness.
Development Status: In 2024, Canadian Solar achieved 32 GW in module shipments and expanded its project development portfolio to 3.5 GW globally. It is particularly strong in North America and Latin America, where it collaborates with utility-scale and community solar developers.
5. First Solar
Corporate Background: Established in 1999 in the U.S., First Solar is a global leader in thin-film PV technology, leveraging cadmium telluride (CdTe) for its modules.
Company Profile: First Solar is unique for its focus on CdTe technology, offering advantages in hot and humid climates. Its products are known for their lower carbon footprint compared to silicon-based panels.
Development Status: In 2024, First Solar shipped 18 GW of panels. The company expanded its manufacturing footprint with new facilities in India and the U.S. to meet growing demand for localized production. Its panels are widely used in utility-scale projects across the U.S., India, and the Middle East.
6. JA Solar
Corporate Background: JA Solar was founded in 2005 in Beijing, China. It has established itself as one of the most reliable and efficient solar module manufacturers globally.
Company Profile: The company offers a range of high-performance products, including its DeepBlue 4.0 modules, which feature advanced cell technology and exceptional durability.
Development Status: JA Solar shipped 36 GW in 2024, bolstered by strong demand in Asia-Pacific and Africa. The company’s expansion strategy includes establishing regional offices and forming partnerships to drive localized growth.
7. Hanwha Q CELLS
Corporate Background: Headquartered in Seoul, South Korea, Hanwha Q CELLS has been a major player since 1999, known for its innovative solar technologies.
Company Profile: The company is a market leader in the residential and commercial solar sectors, with its Q.ANTUM technology setting benchmarks for module efficiency.
Development Status: Hanwha shipped 16 GW in 2024, focusing on key markets like Germany, the U.S., and Japan. It also made significant strides in energy storage and smart energy solutions.
8. REC Solar
Corporate Background: Founded in Norway in 1996, REC Solar is a pioneer in sustainable solar panel production.
Company Profile: REC Solar’s Alpha Pure modules are among the most efficient and eco-friendly in the market. The company is committed to reducing its carbon footprint through innovative production methods.
Development Status: In 2024, REC shipped 5 GW of panels, mainly to eco-conscious markets in Europe and Australia. Its focus on sustainability resonates with customers prioritizing green manufacturing.
9. SunPower
Corporate Background: One of the oldest solar companies, SunPower was founded in 1985 in the U.S. and has consistently pushed the boundaries of solar innovation.
Company Profile: SunPower specializes in high-efficiency panels for residential markets. Its Maxeon series panels are among the most efficient in the industry.
Development Status: In 2024, SunPower shipped 6 GW of modules. The company focused on expanding its residential solar services in North America, supported by government incentives and rising consumer interest in energy independence.
Conclusion: Current Market Summary and Future Outlook
The solar industry in 2024 is marked by technological innovation, cost reductions, and diversification across utility, commercial, and residential markets. The leaders profiled above are driving this transformation, each with unique strengths and strategies.
Future Prediction: By 2030, global solar installations are expected to exceed 2,000 GW annually, driven by increasing electrification, decarbonization goals, and demand in emerging markets. Companies investing in advanced technologies, sustainable practices, and energy storage integration will dominate the next decade.
5 RFQs (Request for Quotations) for Solar Panels
- High-Efficiency Panels for Utility-Scale Projects
- Requirement: Monocrystalline panels with ≥22% efficiency and ≥550W output.
- Quantity: 100 MW
- Delivery: Within six months.
- Residential Solar Panel Kits
- Requirement: Complete system kits (panels, inverters, mounting, and storage) for home installations.
- Capacity: 5 kW per kit
- Quantity: 1,000 kits.
- Eco-Friendly Panels for Sustainable Projects
- Requirement: Panels with a low carbon footprint and sustainable manufacturing certification.
- Efficiency: ≥20%
- Quantity: 25 MW.
- Bifacial Solar Panels for Coastal Projects
- Requirement: Panels resistant to salt corrosion, suitable for bifacial energy generation.
- Quantity: 50 MW.
- Customized PV Solutions for Emerging Markets
- Requirement: Low-cost, durable panels for off-grid installations in rural areas.
- Capacity: 100-150W per panel
- Quantity: 10 MW.
