The solar sector is one of the most rapidly expanding. Many Americans are turning to solar energy as a result of the federal Investment Tax Credit (ITC) enacted in 2006.
In this article we will discuss about 15 Biggest Solar Companies in the World.
Over 2 million American houses presently use solar energy, with more predicted in the future years. Nothing could halt the rising demand for sustainable energy. Despite the rising cost of photovoltaic (PV) panels, many businesses and homeowners are rushing to take advantage of the ITC.
You must first select the correct solar panel provider for your project if you want to harness the power of the sun. This article ranks the top solar panel manufacturers in the world, detailing their annual income and important achievements.
Table of contents
- 15 Biggest Solar Companies in the World | 2022-2023
- Hanwha Q Cells – a market value of $817.76M.
- SMA Solar Technology has a market valuation of $1.70 billion.
- JinkoSolar Holding Co. Ltd. has a $2.85 billion market capitalization.
- Canadian Solar Inc. (CSIQ) has a market worth of $2.86 billion.
- SunPower has a market capitalization of $3.97 billion.
- Sharp Solar has a $4.56 billion market capitalization.
- First Solar has a market cap of $13.47 billion.
- Trina Solar has a market valuation of $19.94 billion.
- Kyocera Solar has a market valuation of $20.71 billion.
- LONGi Solar has a market cap of 57.92 billion.
- $17.069 billion NextEra Energy
- Avangrid’s yearly revenue is $6,974 billion.
- Rensola Energy
- Cypress Creek Renewables is 14th.
- Yingli Green Energy Holding Co. Ltd. (YGEHY)- $1.2 billion in revenue
- How to Select the Most Reliable Solar Company
- FINAL CONSIDERATIONS
15 Biggest Solar Companies in the World | 2022-2023
- Hanwha Q Cells – a market value of $817.76M.
- SMA Solar Technology has a market valuation of $1.70 billion.
- JinkoSolar Holding Co. Ltd. has a $2.85 billion market capitalization.
- Canadian Solar Inc. (CSIQ) has a market worth of $2.86 billion.
- SunPower has a market capitalization of $3.97 billion.
- Sharp Solar has a $4.56 billion market capitalization.
- First Solar has a market cap of $13.47 billion.
- Trina Solar has a market valuation of $19.94 billion.
- Kyocera Solar has a market valuation of $20.71 billion.
- LONGi Solar has a market cap of 57.92 billion.
- $17.069 billion NextEra Energy
- Avangrid’s yearly revenue is $6,974 billion.
- Rensola Energy
- Cypress Creek Renewables is 14th.
- Yingli Green Energy Holding Co. Ltd. (YGEHY)- $1.2 billion in revenue
1. Hanwha Q Cells – a market value of $817.76M
Hanwha Q Cells is a Hanwha Corporation subsidiary.
It is a South Korean manufacturer of solar cells and modules. In the United States, the firm presently has the biggest market share in both the residential and commercial sectors. It provides high-quality materials for large-scale projects such as residential, commercial, and utility work.
Hanwha Q Cells, one of the largest PV producers in the world, can offer competitive product prices. Solar panels of high quality use new technologies to take up less space while producing enough electricity for household use. Its solar panels are among the most efficient on the market today.
2. SMA Solar Technology has a market valuation of $1.70 billion
SMA is a global leader in the solar industry and one of the major manufacturers of solar inverters. Despite having offices all throughout the world, including Germany, its primary markets are Europe, Asia, and North America.
The company also provides grid management solutions and energy storage technology. It has been in operation since the 1970s and is always developing new technology to enhance its offerings. It is dedicated to offering high-quality goods at reasonable pricing.
SMA inverters convert direct current (DC) from solar panels to alternating current (AC), which is then fed into the grid. It has been a technological pioneer, and its products are among the most dependable on the market today.
SMA is a major manufacturer of solar inverters.
3. JinkoSolar Holding Co. Ltd. has a $2.85 billion market capitalization
Both China and Europe are home to Jinko Solar’s manufacturing sites.
With facilities in China and Europe, it is one of the largest solar panel producers in the world. Panels, mounting solutions, and inverters are a few examples of solar products.
The company has improved its production capacity over the previous ten years to meet the rising demand for solar power products. It makes use of IHS Technology, which propelled it to one of the top three PV module producers in the world in 2015.
JinkoSolar’s products outperform comparable panels on the market in terms of efficiency, robustness, and cost. It has created a competitive advantage in the solar industry by emphasising innovation and quality.
4. Canadian Solar Inc. (CSIQ) has a market worth of $2.86 billion
Canadian Solar offers reasonably priced goods.
As the world’s leading manufacturer of solar PV modules, R&D and innovation are crucial to (CSIQ). It offers high-end goods at affordable pricing. Project development, engineering, and manufacturing are its three main areas of expertise.
Canadian Solar is always expanding its product selection and enhancing the effectiveness of its manufacturing process despite its reputation as a pioneer in solar PV technology.
It works hard to provide its clients with the greatest products possible, and one of its innovations led to the commercial production of one of the first thin-film modules. The business was founded in 2001, and it has its Canadian headquarters in Ontario.
It has offices in the US, Europe, and Asia with more than 14,000 employees worldwide.
5. SunPower has a market capitalization of $3.97 billion
SunPower produces solar panels and crystalline silicon photovoltaic cells, making it one of the largest solar panel manufacturers in the world.
Having operations in the US, Europe, and Asia, this 1985-founded American solar energy company has expanded to become one of the largest solar panel producers in the world. Anyone looking for dependable options to instal solar panels on their homes or businesses can find them here.
Since its inception, it has been on the cutting edge of solar technology. It thereby controls the preparation, implementation, and maintenance of each project module.
one of the first manufacturers of solar panels to develop and use high-efficiency solar cells. The organisation is also proud of its great customer service and commitment to provide clients with the best possible experience.
6. Sharp Solar has a $4.56 billion market capitalization
The 1959-founded Sharp Solar is a division of the 1912-founded Sharp Corporation.
A modest company that started out quietly has grown significantly during the past three decades. With operations in more than 100 nations and more than 8,000 staff members, Sharp Solar is currently a global leader in the production of solar panels.
The company has its headquarters in Japan and has been in existence for more than 40 years. One of the most inventive producers of solar panels in the world, Sharp Solar, is committed to environmental preservation.
Through the use of technology and knowledge, it lowers its global carbon impact. Some of the most effective solar panels made today were developed by them. Homes, companies, farms, and educational institutions can all make use of its solar panels.
7. First Solar has a market cap of $13.47 billion
First Solar is presently one of the world’s most efficient solar companies.
First Solar, with headquarters in Tempe, Arizona, provides international solar energy services. The company wanted to make solar energy more accessible and affordable so that both homeowners and businesses could benefit from it.
First Solar began by creating high-efficiency solar panel technology in order to generate more electricity per solar panel than competitors. As a result, it has grown to be among the largest and most known solar panel producers worldwide.
First Solar, a well-known vertically integrated company, designs, manufactures, and instals photovoltaic (PV) systems for clients in the commercial, industrial, and utility sectors. Its solar panels are more versatile and powerful than conventional crystalline silicon panels because to the use of thin film technology.
8. Trina Solar has a market valuation of $19.94 billion
Trina Solar is among the top producers of solar panels in the world with more than 25 years of experience. Its headquarters are in China, but it has manufacturing facilities all around the world, mostly in Europe and the United States.
More than 100 GW may be produced annually by Trina Solar. It is known for creating products of the highest calibre.
The development of cutting-edge technologies and boosting productivity are priorities for this organisation. Additionally prioritised are goods that respect the environment. That clarifies its dedication to using recyclable materials and low-impact manufacturing processes.
9. Kyocera Solar has a market valuation of $20.71 billion
A division of the 1920-founded Japanese corporation Kyocera Corporation is Kyocera Solar. It is currently among the biggest producers of solar panels worldwide.
It is well established in Japan and aims to grow throughout Europe, Asia, and North America. For both commercial and domestic use, Kyocera provides solar panels.
The company also manufactures energy storage systems and home items that run on solar energy. Through its business model, it provides its innovations to other businesses in the sector.
10. LONGi Solar has a market cap of 57.92 billion
LONGi is a tenant in the Malaysian industrial zone called Sama Jaya Free.
It’s a well-known brand in the solar industry. Silicon wafers and solar modules are among its offerings. This company offers high-quality solar panels as well as expert advice under one roof at a reasonable price.
It is constantly on the cutting edge of solar technologies such as P-type HJT, N-type HJT, and P-type TOPCON. LONGi Solar has offices in China, Malaysia, Yunnan, and Kuching, despite serving the global market.
11. $17.069 billion NextEra Energy
The most valued US energy company in October 2020 was NextEra Energy, which was significant for the solar energy market. Exxon had been the previous leader. The current value of NextEra’s stock exceeds Exxon’s by $900 million.
The green movement, solar and renewable energy businesses all benefit from this enormous upsurge.
The business takes pride in offering long-term solutions to the region’s growing energy needs while also supplying sustainable energy to a significant chunk of North America. Solar, wind, nuclear, and natural gas are all sources of energy used by the company.
12. Avangrid’s yearly revenue is $6,974 billion
Avangrid is stepping up to meet the increasing demand for utility-scale solar energy and is positioned to become a key player. Because of their vertical integration strategy, each consumer receives dependable, cost-effective renewable energy products.
If you’re not familiar with Avangrid, you could recognise them as Iberdrola Renewables. Despite the fact that Avangrid is headquartered in Portland, Oregon, their parent business, Iberdrola, is still headquartered in Bilbao, Spain.
They have the most renewable assets in the world.
13. Rensola Energy
ReneSola Power (NYSE: SOL) is a global leader in solar project development, ownership, and operation, with a pipeline of projects and IPP assets spread across Europe, North America, and Asia.
The organization’s primary areas of interest include project development, project financing, and construction management.
ReneSola Power has expert teams on the ground in over 10 countries. It is prevalent throughout places where solar is rapidly expanding due to clean energy demand and favourable government laws. Please visit www.renesolapower.com for further information.
14. Cypress Creek Renewables is 14th
Located in the Research Triangle Park in North Carolina, Cypress Creek Renewables has an annual revenue of $232 million.
It will fuel a sustainable future, one project at a time. They have a solid reputation across the nation for developing, funding, operating, and owning utility-scale and distributed power facilities.
They are a national solar leader with roughly 8 gigatonnes of developed solar and 2.5 gigatonnes under management.
Cypress Creek attempted a market entry and contributed to early policy and regulatory difficulties. They are therefore in a unique position to help customers.
15. Yingli Green Energy Holding Co. Ltd. (YGEHY)- $1.2 billion in revenue
Through its subsidiaries, the holding company Yingli Green Energy Holding Co. develops, manufactures, and sells solar modules. The company’s headquarters are in China.
How to Select the Most Reliable Solar Company
We recommend studying and collecting quotes from at least three sources before selecting on a solar installation firm.
While price is crucial, we recommend weighing it against other factors such as services, customer reviews, warranty durations, and so on. Choosing the most expensive installation, on the other hand, only occasionally guarantees higher quality.
The most significant actions, according to Nilsen, are conversing with installers, interacting with acquaintances, and researching solar reference books.
Consider whether a lease or PPA will save you money in the long run because they prevent you from claiming tax credits.