IHS names Trina, SunPower, First Solar, Hanwha and Jinko as industry leaders

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IHS Markit has released a new report analyzing PV module makers according to multiple factors, and has named five companies as “industry leaders”. Trina Solar, SunPower, First Solar, Hanwha Q Cells and Jinko Solar all achieved above average scores on the dual axis of “market presence”, which describes the company’s current position, and “market momentum”, which looks at future potential, in the company’s PV Module Supplier Scorecard.

“IHS Markit evaluated the largest module suppliers based on nine different metrics to arrive at the overall scores,” said Edurne Zoco, senior manager, solar research at IHS Technology. “This scorecard takes into account a company’s current market and financial position, as well as its potential to cope with the next wave of challenges faced by the solar industry.”

This ranking does not directly reflect which companies shipped the most modules. IHS states that in 2015 the companies with the largest shipments were Trina Solar, Jinko Solar and Canadian Solar, and in the first quarter of 2016 Jinko Solar surpassed Trina in shipments.

IHS notes that Canadian Solar scored above average in market presence, but below average in momentum. Conversely, First Solar ranked well in market momentum, which IHS credits to “rapid growth within its regional market” as well as R&D spending and market-share growth, but ranked lower on market presence in part due to a limited variety of product offerings.

And while SunPower received high scores for market momentum, the company’s Q2 results, released yesterday, paint a less optimistic picture. SunPower reported that it will close its factory in the Philippines and lay off 15% of its global workforce, and expects losses averaging $150 million in both 2016 and 2017.