While Trina Solar continues to look forward into the future with exciting projects, the company would also like to look back at the past few months as the second half of 2018 comes around. The solar energy industry is one of constant change, and the recent PV policy changes in China which raised concerns globally - is a reminder that companies should never be content with their position but continually improve on existing technologies and innovate on new ones to deliver sustainable energy for all. Here is a summary of how 2018 looks thus far.
First and foremost, Trina Solar has continued to maintain a strong financial position while leading in all the key financial indexes such as margins, debt ratios, cash flow, and more. Other financial indicators include:
- Debt ratio declined to 67.5% in 2017 compared to 74.8% in 2016
- Revenue increased 15% year-on-year
- Gross margins are approximately 17%, comparing favorably with the other top 5 publicly-listed PV manufacturers.
- Retained top 3 global market position in first half of 2018
In terms of global growth, continuous market demand for Trina Solar’s modules has exceeded our current capacity despite the aforementioned PV policy changes in China. This is due to Trina Solar’s global reach, where approximately 60% of 2017’s revenue came from outside of China. Revenue has also increased significantly this year, especially in emerging markets where the company has attained more than 50% of the market share. Overall, module shipments increased from 6GW in 2016 to 9GW in 2017. Other highlights in the first half of 2018 include:
- Europe: 12% market share in Europe, total regional volume of 620MV
- Asia Pacific and Middle East (APME) region: 258MW module shipments to Vietnam, launched our residential PV solution - Trinahome in various markets such as India.
- Global: 123MW to Ukraine, 42MW in Argentina, 120MW in Morocco
Trina Solar’s influence and global position remains strong, but the company is also looking for new ways to revolutionise the industry. While maintaining their position in the module business, Trina Solar is also taking the lead by investing in smart PV systems that will leverage on energy IoT (internet of things). This year, the company launched TrinaPro - the first smart PV solution that can significantly reduce the system LCOE by combining premium components, optimized system integration and smart O&M interconnection.
The possibilities are endless with PV technology, and as Trina Solar moves from a manufacturer to a total solutions provider, we are one step closer to experiencing the future of the industry.
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