Published on August 13th, 2014 | by Mridul Chadha2
Yingli Solar Reaches 10 GW Global Solar PV Module Delivery Milestone
August 13th, 2014 by Mridul Chadha
World’s largest photovoltaic modules manufacturer Yingli Solar has now supplied a cumulative 10 GW of modules worldwide, the company announced recently.
The achievement is remarkable when we consider the amount of potential electricity 10 GW of solar power modules can generate. According to the company, when fully operational, these modules can generate 12 billion kWh of electricity every year enough to power four million average households or satisfied 20% of China’s residential power demand.
The company has shipped 40 million modules to over 50 countries across the world, but the geographical base of the consumers has shifted of late. In Q4 2013 53% of all the modules shipped by Yingli went to companies located in China, while only 16% were shipped to clients located in regions and countries other that US, Europe and China.
According to company’s estimates (pdf), the share of clients located in China will drop to 31% in 2014. The share of US-based clients would fall to 17%, down from over 20% between Q4 2013 and Q2 2014. The share of clients in new emerging solar markets (excluding US, Europe and China) was 16% in Q4 2013, which more than doubled in Q1 2014. Clients from emerging markets will have the highest share in Yingli’s shipments in 2014 with a share of 36%.
Shipments to China may rise again, as the company plans to expand its project development activities. The Chinese government has also provided lots of incentives to project developers as it aims to achieve its ambitious cumulative installed capacity level of 35 GW by end of 2015.
The company has also expanded its base in Latin America through subsidiaries. Chile, Mexico and Brazil are important emerging markets where the company has reported completion of several inventory turns. Within Europe, the company sees potential upside in demand from the UK where solar photovoltaic market has been booming over the last few quarters.
As the company faces anti-dumping duties in the US and Europe, it would do well to shift its focus to new and emerging solar market in South America, Asia, and Africa. While several countries in Europe are now looking to reduce feed-in tariffs for solar projects, emerging markets still offer attractive tariffs.