In Q1, the market saw its first signs of relief. This was driven by the strong demand for renewable energy products. In addition to this, the scarcity of electricity in many regions also pulled the market up.
Jinkosolar had a great quarter, with third-party shipments touching 8.031GW, followed by Trina with third party delivery of 7.1GW, and JA in 3rd with 6.6GW, Longi in 4th with 6.35GW and Canadian solar only in 5th with 3.4~3.6GW.
JinkoSolar’s exemplary performance despite the logistic constraints did not come as a surprise. The company was able to replicate its success and good sales performance in the home country too like in other parts of the world. In terms of the recent product launch, the delivery ramp-up of n-type Tiger Neo needs to be highlighted, as it emerges as the potential best seller in the near future for all application scenarios.
With respect to cost, the rising trend is expected to persist as polysilicon continues to be in scarcity with serious capacity constraints. This is preventing prices from stabilizing at lower levels. China’s strict pandemic response policy has led to supply chain disruptions and has affected domestic logistics as well. These issues have also been responsible for driving the costs up.
