JinkoSolar sales performed positively in India in Q4, delivering around 160MW panels. As such, it achieved its best quarterly result ever in India, particularly achieving 24% marketing share in the mono segment. In addition, it’s impossible not to mention that Jinkosolar leads the mono PERC sector in India with about 45% market share and has exclusively offered bigger size cell of mono PERC.
Despite the wake of a difficult environment in India, JinkoSolar has repositioned itself as a premium market leader in India especially in the mono PERC technology segment. The company watched out for the megatrend in India that demand has shifted from poly towards mono, from conventional mono towards premium mono PERC. It gives JinkoSolar an exceptionally good opportunity, because, in the premium mono segment like 380Wp or more, JinkoSolar ranked first or second in various countries, now including India. Strongest year-end closing in India verified JinkoSolar’s new product strategy in India “Premium mono as focus topic for 2019”.
According to Jinkosolar, 2019 will also be dominated by the switch to mono by many new highly compelling models such as the Cheetah series. In India, the topic of mono PERC or other premium technologies, in particular, will take center stage. JinkoSolar’s strength in this sector exactly fits this trend and market even though it is one of the few companies who has expanding portfolio and offer both quality poly, mono, mono PERC models. The company will be unveiling new Swan bifacial module with transparent back sheet up to 430Wp, front plus rear side generation, at Intersolar EU in Munich this year.
Mono, especially mono PERC models will remain a very strong growth driver in India. It has been witnessed by robust demand for Jinkosolar’s higher power mono products and better ASP. Rising above average ASP demonstrates that India customers have become more focus on technology and quality than ever before. It’s a big change. Developers and investors have recognized that performance of investment 100% relies on the performance of technology and quality selected. They understood that the impact of lower power, lower cost, and the limited portfolio continues to be felt in the long term, with a knock-on effect in terms of plant performance. So now more and more India customers would like to pay a bit more for better technology and better quality products and trust more on brand
Another obvious trend is the rising market of floating solar and rooftop. The Indian government has expressed intentions to launch a highly ambitious floating solar power program. Developers will be selected by tender and will be given an assured off-take of solar power generated from the projects via long-term PPAs. Two pilot floating solar plants of 25MW each adopting all Jinkosolar’s premium Cheetah panels of 380watt is expected to be one of the largest floating solar parks of this kind in India after being grid connected later this year. Moreover, India’s rooftop market outpaced utility by adding more rooftop capacity in the last financial year than in the previous four years combined, making it the fastest-growing segment. In Q4 2018, 456MW rooftop system deployed in one single quarter, achieving a 32% share.
Given that Jinkosolar has an unparalleled advantage in mono perc, its newly launched mono perc based Cheetah of up to 400 Wp and Swan bifacial technology of front plus rear side generation up to 435 Wp have been developed with this objective In mind and exactly address these two application sectors.