15 Biggest Solar Companies in the World | 2023

The solar industry is one of the fastest-growing industries. Because of the federal Investment Tax Credit (ITC) enacted in 2006, many Americans are turning to solar energy.

Solar energy is currently used in over 2 million American homes, with more expected in the coming years. Nothing stopped the growing demand for clean energy. Even though the cost of photovoltaic (PV) panels is increasing, many businesses and homeowners are hurrying to take advantage of the ITC.

If you want to harness the power of the sun, you must first find the right solar panel provider for your project. This article ranks the world’s top solar panel manufacturers, highlighting their annual revenue and notable accomplishments.

15 Biggest Solar Companies In The World | 2023

• Hanwha Q Cells – worth $817.76M on the market.
• SMA Solar Technology – market capitalization of $1.70 billion.
• JinkoSolar Holding Co. Ltd.- market capitalization of $2.85 billion.
• Canadian Solar Inc. (CSIQ) – market capitalization of $2.86 billion.
• SunPower – $3.97 billion in market capitalization
• Sharp Solar – market capitalization of $4.56 billion.
• First Solar – market capitalization of $13.47 billion.
• Trina Solar – market capitalization of $19.94 billion.
• Kyocera Solar – market capitalization of $20.71 billion.
• LONGi Solar – market capitalization of 57.92 billion.
• NextEra Energy- $17.069 billion
• Avangrid- annual revenue $6,974 billion
• Rensola Power
• Cypress Creek Renewables
• Yingli Green Energy Holding Co. Ltd. (YGEHY)- revenue of $1.2 billion

1. Hanwha Q Cells – worth $817.76M on the market.

Hanwha Q Cells is a subsidiary of Hanwha Corporation.

It is a South Korean company, that manufactures solar cells and modules. The company now has the largest market share in both the residential and commercial industries in the United States. It offers high-quality materials for large-scale, residential, commercial, and utility projects.

Hanwha Q Cells, one of the world’s largest PV manufacturers, can offer competitive product prices. High-quality solar panels use modern technologies to take up less space while producing enough electricity for home usage. Its products are among the most efficient solar panels on the market today.

2. SMA Solar Technology – market capitalization of $1.70 billion.

SMA is a world leader in the solar business and one of the largest producers of solar inverters. Despite having offices worldwide, including in Germany, its key markets are Europe, Asia, and North America.

In addition, the company supplies grid management systems and energy storage technology. It has been around since the 1970s and is constantly creating new technology to improve its offers. It is committed to providing high-quality products at reasonable prices.

SMA inverters convert direct current (DC) from solar panels to alternating current (AC), which is then connected to the electrical grid. It has been a pioneer in this technology field, 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.- market capitalization of $2.85 billion.

Jinko Solar has factories in both China and Europe.

It is one of the world’s largest solar panel manufacturers, with operations in China and Europe. Panels, mounting systems, and inverters are just a handful of the solar products available. 

Over the last ten years, the company has expanded its production capacity to meet the increasing demand for solar power products. It employs IHS Technology, which propelled it to the world’s top three PV module producers in 2015.

JinkoSolar’s products outperform similar panels on the market in terms of effectiveness, dependability, and affordability. It has gained a competitive advantage in the solar industry by emphasizing innovation and quality.

See also: 15 Best Solar Companies in Orlando | 2023 Careers, Location

4. Canadian Solar Inc. (CSIQ) – market capitalization of $2.86 billion.

Canadian Solar’s products are reasonably priced.

(CSIQ), the world’s largest producer of solar PV modules prioritizes R&D and innovation. It provides high-quality goods at reasonable prices. Its three core specializations are manufacturing, engineering, and project development.

Despite being recognized as a pioneer in solar PV technology, Canadian Solar is constantly expanding its product selection and improving the efficiency of its manufacturing process.

One of its inventions was one of the first thin-film modules to be commercially produced, and it works hard to provide clients with the best merchandise. The corporation was founded in 2001 and had its headquarters in Ontario, Canada. 

It employs over 14,000 people worldwide and has offices in the United States, Europe, and Asia.

5. SunPower – $3.97 billion in market capitalization

SunPower is one of the world’s largest solar panel manufacturers, designing and manufacturing crystalline silicon photovoltaic cells and solar panels.

This is a 1985-founded American solar power company that has grown to become one of the world’s largest solar panel manufacturers, with operations in the United States, Europe, and Asia. It provides dependable solutions for individuals interested in placing solar panels on their houses or businesses. 

It has been at the forefront of solar technology since its inception. As a result, it handles all of your project modules’ design, implementation, and maintenance.

One of the earliest solar panel manufacturers to develop and employ high-efficiency solar cells. The company is also proud of its outstanding customer service and commitment to providing clients with the best experience possible.

6. Sharp Solar – market capitalization of $4.56 billion.

Sharp Solar, founded in 1959, is a subsidiary of Sharp Corporation, founded in 1912.

Over the last few decades, a little business that started slowly has grown tremendously. Sharp Solar is currently a world leader in producing solar panels, having sites in over 100 countries and more than 8,000 workers. 

It has been in business for over 40 years, with headquarters in Japan. Sharp Solar, one of the world’s most cutting-edge solar panel companies, is committed to environmental protection.

It uses its technology and knowledge to lower its global carbon footprint. They developed some of today’s most efficient solar panels. Homes, businesses, farms, and schools can use its solar panels.

7. First Solar – market capitalization of $13.47 billion.

First Solar is now one of the most effective solar enterprises in the world.

Based in Tempe, Arizona, First Solar is a global provider of solar energy services. The company’s goal was to make solar energy more accessible and affordable so that homeowners and businesses could benefit from its benefits. 

First Solar began by developing high-efficiency solar panel technology to produce more electricity per panel than competitors. As a result, it has developed to become one of the world’s largest and most influential solar panel manufacturers.

First Solar is a well-known vertically integrated producer that designs manufactures, and installs PV systems for commercial, industrial, and utility customers. Because of the use of thin film technology, its solar panels are more flexible and efficient than standard crystalline silicon panels.

8. Trina Solar – market capitalization of $19.94 billion.

Trina Solar is one of the world’s leading manufacturers of solar panels, with over 25 years of experience. It is headquartered in China and has manufacturing facilities worldwide, most notably in Europe and the United States.

Trina Solar has an annual capacity of more than 100 GW. It is well-known for producing high-quality items.

This company places a high value on developing cutting-edge technology and enhancing productivity. Producing environmentally friendly things is also prioritized. That explains its commitment to using recyclable materials and manufacturing practices with low environmental impact.

9. Kyocera Solar – market capitalization of $20.71 billion.

Kyocera Solar is a part of the Japanese firm Kyocera Corporation, which was formed in 1920. It is one of the world’s largest solar panel manufacturers today. 

It has a significant presence in Japan and plans to expand to countries in Europe, Asia, and North America. Kyocera has solar panels for both home and commercial use. 

In addition, the company manufactures solar-powered household items and energy storage systems. Using its business model, it offers its technologies to other companies in the industry.

See also: 15 Best Solar Companies in New York | 2023 Careers, Location

10. LONGi Solar – market capitalization of 57.92 billion.

LONGi is a tenant in the Sama Jaya Free Industrial Zone, a Malaysian industrial zone.

It is a well-known name in the solar industry. It manufactures silicon wafers and photovoltaic modules. This company offers high-quality solar panels and skilled advice under one roof without breaking the bank. 

It is continually on the cutting edge of solar technologies such as P-type HJT, N-type HJT, and P-type TOPCON. Despite catering to the global market, LONGi Solar has established operations in China, Malaysia, Yunnan, and Kuching.

11. NextEra Energy- $17.069 billion

NextEra Energy surpassed Exxon as the most valuable US energy company in October 2020, which was huge news in the solar energy market. The stock market currently values NextEra $900 million higher than Exxon.

This massive increase is a boon for the green movement and the solar and renewable energy industry.

The corporation takes pride in providing clean energy to a wide area of North America and providing long-term answers to the region’s changing energy needs. The corporation provides solar, wind, nuclear, and natural gas energy.

12. Avangrid- annual revenue $6,974 billion

Avangrid is stepping up to satisfy the growing demand for utility-scale solar energy and is poised to become a vital participant. Because of their vertical integration strategy, each consumer receives trustworthy, affordable renewable energy goods.

If you’re unfamiliar with Avangrid, you might recognize them from their previous name, Iberdrola Renewables. Even though Avangrid is headquartered in Portland, Oregon, Iberdrola, their parent company, is still headquartered in Bilbao, Spain.

They have the world’s largest renewable asset base. 

13. Rensola Power

ReneSola Power (NYSE: SOL) is a leading worldwide solar project developer, owner, and operator with a robust pipeline of projects and IPP assets distributed across Europe, North America, and Asia. 

The key areas of interest for the organization are project development, project financing, and construction management. 

ReneSola Power has local expert teams in more than ten countries. It is spread throughout areas that are quickly increasing in solar due to clean energy demand and favorable government legislation. For further information, please visit www.renesolapower.com.

14. Cypress Creek Renewables 

Cypress Creek Renewables is based in North Carolina’s Research Triangle Park with a $232 million annual revenue.

It will power a sustainable future one project at a time. They have a national reputation for developing, financing, managing, and owning utility-scale and distributed power facilities.

They are a national solar leader, with over 8 gigatonnes of developed solar and 2.5 gigatonnes under management.

Cypress Creek attempted a foray into the market and contributed to early policy and regulatory affairs. This means they are uniquely positioned to help their solar and storage projects succeed from start to finish.

15. Yingli Green Energy Holding Co. Ltd. (YGEHY)- revenue of $1.2 billion 

The holding business Yingli Green Energy Holding Co. develops, manufactures, and sells solar modules through its subsidiaries. Its headquarters are in China.

How to Choose the Best Solar Company

Before deciding on a solar installation company, we recommend researching and receiving quotes from at least three suppliers. 

While cost is important, we recommend balancing it with other important aspects such as services, customer feedback, warranty durations, etc. On the other hand, choosing the most expensive installation only sometimes implies greater quality.

According to Nilsen, the most important activities are speaking with installers, interacting with acquaintances, and studying solar reference books.

Because a lease or PPA stops you from claiming tax credits, consider whether these two options will save you money in the long run.

See also: 15 Best Solar Companies in Arizona 2023 Careers, Location

What is the most popular solar panel company?

The top-rated solar company on our list is SunPower. SunPower has over 30 years of experience in the industry and has high customer reviews across multiple platforms, so we consider it to be a reputable company based on our solar review standards.

FAQS on the 15 biggest solar companies in the world

Final Thoughts

Solar power and other renewable energy initiatives are expected to develop significantly in the coming decades. Green energy and renewable resources are used to improve the planet’s health and limit global warming to the greatest extent possible.

Because of technological developments, solar energy is now a commercially viable source of electricity.

The benefits now outweigh the downsides, and enterprises in the solar energy sector will continue to grow and thrive. 

Do you intend to use solar energy? Anyone interested in using solar energy should invest in solar panels. Still, work with a company that can meet your needs while providing quality and value for money. Our list is a great place to start. After analyzing your options, choose the best solution for your project.

References

• zippia – The 10 largest Solar Companies in the United States
• historycomputer – The 10 Largest Solar Panel Companies in the World, and What They Do

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