The Chinese company Longi solar panels, the world’s largest photovoltaic company (in terms of market value and sales revenue), has announced that it has released 24.5 gigawatts of solar panels in 2020, which shows a significant growth of 224% compared to 2019.
The annual income of Longi solar panels in 2020 compared to 2019 has only increased by 66%, which according to the increase in supply to the market, it can be seen that the price of solar panels has decreased compared to 2019. Nevertheless, the net profit of this company has increased by 62% compared to 2019 and reached 1.32 billion dollars.
At the end of 2020, Longi solar panels Company has the annual production capacity of 85 gigawatts of solar wafers, 30 gigawatts of solar cells and 50 gigawatts of solar panels. These figures are after the launch of projects such as the 15 GW ingot and wafer production line in Yinchuan city, the addition of 10 GW ingot casting capacity to the Longi Tengchong plant, the addition of 10 GW ingot and wafer production capacity in the Qujing unit. , and the creation of 7.5 GW of cell production capacity. Solar in Xi’an factory, 5 GW mono cell production project in Xi’an and four 5 GW solar panel production lines in Taizhou, Xianyang, Chuzhou and Jiaxing cities of China have been achieved.
Longi solar panels Company has estimated its global share of the solar panel market to be 19% with an increase of 11% in 2020. This company has also supplied 15.58 gigawatts of wafers to the photovoltaic market, of which 84.31 gigawatts have been supplied to foreign. markets.
With the growing demand for solar energy worldwide, Longi solar panels announced that 70% of the company’s revenue increase in 2020 came from the solar energy market outside of China, and the share of foreign customers was 39% of Longi solar panels total revenue.
Last year, the company introduced the first example of building-integrated rooftop solar panels (BiPV). In 2020, Longi solar panels has invested nearly 5% of its revenue (around $399 million) in the research and development unit. The investment made has reduced the average cost of non-silicon ingot casting by 98.9% and the average cost of non-silicon wafer cutting by 82.10%.
Longi solar panels Company plans to increase its production capacity for wafers, cells and solar panels to 105 GW, 38 GW and 65 GW respectively this year.
This giant of the world’s solar energy industry plans to achieve an income equivalent to $13 billion in 2021 by supplying 80 gigawatts of solar wafers and 40 gigawatts of photovoltaic solar panels. Also, this company has promised to step towards 100% renewables based on international agreements and encourage its employees to use electric cars.
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