JinkoSolar Breaks World Record for Bifacial Modules Conversion Efficiency
JinkoSolar Holding Co., Ltd. (the “Company,” or “JinkoSolar”) (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, announced that the maximum conversion efficiency of its bifacial solar modules reached 22.49%, breaking the previous world record and setting a new industry standard for efficiency of mass produced solar cells. These results were verified during testing conducted by TÜV Rheinland, an independent provider of technical services for testing, inspection, certification, consultation and training.
JinkoSolar was able to significantly improve efficiency for its mass produced modules by applying newly developed ARC and advanced metallization technologies and proven proprietary technologies to high-efficient cell design. New Tiling Ribbon (TR) technology was also incorporated into the cell design which eliminates any inter-cell gap, ensuring high-efficiency and high-reliability, while significantly improving the module’s appearance. The high-efficiency modules also help reduce the levelized cost of electricity (LCOE) as the industry approaches grid parity globally.
Dr. Jin Hao, Vice President of JinkoSolar commented, "We are committed to providing high-quality modules that will efficiently and reliably operate under the toughest conditions. This new world record will pave the way for a new round of technological and industry upgrades in module efficiency with JinkoSolar leading the way. Going forward, we will accelerate the application of the latest and most advanced technologies to the mass production of our solar products which will drive an increase in cost-effectiveness and promote grid parity on a global scale."
This high-efficiency solar technology takes advantage of inexpensive silicon wafers. It is easy to manufacture at large scale and can achieve a higher conversion rate. It has a more robust and rugged design, much lower degradation required for next-generation solar cells in space. Due to its unprecedented efficiencies, it could also be used in other applications like auxiliary power units in vehicles, solar roof tiles, power plants, and smart grid systems. This is an early-stage technology requiring additional development. This partnership between two elite solar companies will fuel much needed development.
This cooperation will not only set a good example of photovoltaic technology space application, but it will also bring new opportunities for Chinese photovoltaic industry to grow and develop abroad.
Dr. Jin Hao, Vice President of JinkoSolar commented, "The strategic cooperation with Shanghai Institute of Space Power-Sources has a great importance. In the future, we will continue to increase technical cooperation, leading our industry in the name of technical innovation and providing more efficient solar panels with a wider range of choices for global customers."
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes it solar products and sells its solutions and services to a diversified international utility, commercial, and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 14.5 GW for silicon wafers, 9.2 GW for solar cells, and 15 GW for solar modules, as of September 30, 2019.
JinkoSolar has over 15,000 employees across its 7 production facilities globally, 15 overseas subsidiaries in Japan, Korea, Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, and United Emirates, and global sales teams in China, United Kingdom, France, Netherlands, Spain, Bulgaria, Greece, Romania, Ukraine, Jordan, Saudi Arabia, Tunisia, Egypt, Morocco, Nigeria, Kenya, South Africa, Costa Rica, Colombia, Panama, and Argentina.
To find out more, please see: www.jinkosolar.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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