PV-Tech noted recently that the Chinese photovoltaic (PV) manufacturer leapfrogged past Suntech Power Holdings, who was number one in 2011.
Firm fourth quarter demand helped to catapult Yingli to the top spot, with total year shipments of 2.26 gigawatts (GW), surpassing its targets while beating its competitors in total shipments in every quarter last year.
“Despite the tremendous challenges to the global PV industry, we’re extremely inspired to have continuously expanded our market share throughout 2012 not only in the existing markets but also a number of emerging markets. According to public data to date, we believe that Yingli has evolved into the world’s largest PV module supplier,” said Chairman and Chief Executive Officer of Yingli Green Energy Liansheng Miao on the company being the world’s number one solar business.
The growth of Chinese solar companies in recent years has been quite astonishing. In 2011 alone, five of the top ten solar module companies were from China.
Meanwhile, by 2010, 45% of global solar panel production came from China. That compares to just 1% in 2001.
Add to the falling costs of solar panels in recent years, and it’s no wonder why Chinese manufacturers, like Yingli, have dominated the global solar industry.
A Telling Tale of Emerging Market Brands
With Yingli being around since 1998, its rise to number one is a telling tale of emerging market brands on the global stage. From supporting clean energy alteratives for the FIFA World Cup, to boosting its home country’s solar goals, it’s a telling tale how one company is leapfrogging old energy technologies to boost not only their own, but China’s global image.