Different from other panel makers who slashed prices to boost sales in an increasingly competitive solar market, JinkoSolar keeps the price relatively stable which enables it to have a positive margin of over 1.2 billion RMB. More importantly, this prudent pricing strategy protects its DG market customers from being hurt due to a slump in price without advance notice. “We hesitated or lagged to enter the module price war. Slashing prices will particularly hurt DG customers to accelerate inventory devaluation. We won’t do it unless forced to do it,” Dany Qian, VP of JinkoSolar commented on the price war over the past two quarters.
Compared to its rivals’ price cut strategy to respond to depression, JinkoSolar has more room to maneuver between regions, shifting more capacity supply towards high ASP markets thanks to its diversified customer and balanced-supply market backed by strong pipeline orders from 194 countries.
“We have seen some signs of stabilization in pricing in the market as it appears except very few companies like Jinko, the rest were instrumental loss,” said Dany, “the demand in key regions is showing signs of improving as customers realise that no more price cuts are coming.”
Also, JinkoSolar uniquely maintained its 2024 sales guidance of 100-110 GW unchanged. This high-order visibility results in high-capacity utilization orders.
JinkoSolar has proved itself as the most competitive solar PV company in the world. As an affordable mass-market N-type panel, Tiger Neo helps JinkoSolar remain a dominant player in the premium segment by boosting sales and stabilizing prices. As the flagship and the best-selling N-type model, the Tiger Neo panel has delivered over 100GW within 18 months since its official launch, it provides the “lowest total cost of ownership,” suggesting that while other modules may be less expensive, Tiger Neo is more economical considering its performance and cost to run.
It is recognized by the industry and market that N-type TOPCon led by JinkoSolar has achieved a “virtuous circle,” a term in the solar technology industry that refers to when a platform has the most users, which allows it to make the improvements it needs to attract even more users.
