JinkoSolar's 2000-Volt Module First to Achieve UL Certification

Rhea-AI Summary

JinkoSolar Holding announced that its 2000-Volt EAGLE® Modules are the first to achieve UL certification for UL61730-1, UL61730-2, and IEC 61215 standards. These high-quality modules, certified in collaboration with UL Solutions, will be selectively deployed in the U.S. in Q3 2024, with general market availability in 2025.

The 2000-Volt modules enhance utility-scale project efficiency by increasing string lengths, reducing system component costs, and minimizing energy loss, thus offering a more competitive levelized cost of energy and higher ROI for projects. This milestone represents a significant advancement since the introduction of 1500-Volt modules eight years ago.

UL Solutions praised the collaboration, emphasizing their commitment to industry competitiveness and safety. JinkoSolar highlighted its strength in R&D and cost-effective scaling of advanced technologies to benefit U.S. customers.

Positive

• 2000-Volt EAGLE® Modules are the first to achieve UL certification for UL61730-1, UL61730-2, and IEC 61215 standards.
• Modules will be selectively deployed in the U.S. in Q3 2024, with general market availability in 2025.
• Increased string lengths for utility-scale projects reduce overall system component costs.
• Improved end-to-end efficiency with less energy loss.
• More competitive levelized cost of energy.
• Higher return on investment for projects using JinkoSolar's modules.
• Significant advancement since the 1500-Volt modules introduced eight years ago.
• Collaboration with UL Solutions, a recognized leader in product safety and certification.
• JinkoSolar's expertise in advanced R&D and cost-effective scaling of technologies.

Negative

• No immediate market availability; general availability delayed until 2025.
• Initial deployment is to selective projects in the U.S. starting Q3 2024.

Insights

Tech Expert

JinkoSolar's latest achievement in securing UL certification for its 2000-Volt EAGLE® Modules is a significant milestone in the solar industry. This certification ensures that the modules meet stringent safety and performance standards, which can instill confidence among utility-scale project developers.

From a technical perspective, higher voltage modules can significantly reduce the number of strings needed in a solar array, which in turn minimizes wiring and labor costs. This leads to lower overall system costs and improved project economics. Such efficiencies are important in large-scale solar installations where every bit of cost-saving impacts the project's return on investment.

This move also represents a technological leap from the previously common 1500-Volt modules, marking a step forward in the evolution of solar technology. However, it is essential to monitor how these modules perform in real-world conditions to ensure they deliver the promised efficiencies and durability.

Given these technological advancements, the deployment of these modules could set a new industry standard, pushing competitors to innovate similarly, ultimately benefiting the entire solar market.

Financial Analyst

From a financial standpoint, achieving UL certification for the 2000-Volt EAGLE® Modules positions JinkoSolar favorably in the competitive U.S. market. UL certification is a recognized mark of quality and safety, which can enhance customer trust and potentially lead to increased sales and market share.

Reducing system-level component costs and improving efficiency can significantly lower the levelized cost of energy (LCOE), making JinkoSolar's products more attractive to cost-conscious utility-scale projects. This could drive higher adoption rates, translating into increased revenue and potentially improving JinkoSolar's financial performance in upcoming quarters.

Moreover, the anticipated general availability in 2025 suggests that JinkoSolar could see a steady revenue stream from these modules in the following years. However, it's essential to consider that the market's reaction and adoption rate will depend on the actual performance and cost benefits realized by the end users.

Market Research Analyst

JinkoSolar’s UL certification milestone places the company at a competitive advantage in the evolving solar market. With the introduction of the 2000-Volt EAGLE® Modules, JinkoSolar is clearly targeting utility-scale solar projects, which have been a growing segment due to increasing demand for renewable energy.

These modules promise to offer higher efficiency and reduced costs, directly addressing the needs of utility-scale projects for cost-effective and reliable solutions. This can make JinkoSolar's offerings more appealing compared to competitors who may still be offering lower voltage modules.

However, market acceptance will depend on how well the modules perform in field conditions and the overall economic benefits they deliver. If JinkoSolar can effectively communicate these advantages and demonstrate real-world success, it could capture an increased share of the utility-scale market, driving further growth.

SHANGRAO, China, May 20, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its 2000-Volt EAGLE® Modules were the first in the world to be qualified as UL listed products for UL61730-1 and UL61730-2, and UL classified products for IEC 61215-1, IEC 61215-2 and IEC 61215-1-1.

JinkoSolar worked with UL Solutions to certify this new and high-quality module. Following certification, the 2000-Volt EAGLE® Modules will be deployed selectively in the U.S. in the third quarter of 2024, with general U.S. market availability in 2025. 

The 2000-Volt module increases string lengths for utility-scale projects, thus reducing the overall system level component costs and improving end-to-end efficiency with less energy loss. This enables a more competitive levelized cost of energy, and projects using JinkoSolar's modules will see higher return on investment. This is the latest advancement in high voltage solar certification since 1500-Volt modules first came onto the market eight years ago. 

"We are always pleased to collaborate with industry innovators and technology leaders such as JinkoSolar," said Colleen O'Brien, Principal Engineer of UL Solutions. "UL Solutions is dedicated to elevating industry competitiveness through the exploration of cutting-edge technologies while prioritizing safety in their application."

"UL Solutions is synonymous with product safety and certification, so working with UL Solutions to achieve this 2000-Volt milestone was a natural choice," said Nigel Cockroft, General Manager of JinkoSolar (U.S.) Inc. "JinkoSolar's expertise lies not just in advanced R&D but also in bringing those technologies to scale and making them available cost-competitively to our U.S. customers. We look forward to the 2000-Volt EAGLE® Modules making a tangible difference to our customers' bottom lines."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 26 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of March 31, 2024.

To find out more, please see: www.jinkosolar.com

About UL Solutions 

A global leader in applied safety science, UL Solutions transforms safety, security, and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection, and certification services, together with software products and advisory offerings, which support our customers' product innovation and business growth. The UL Certification Marks serve as a recognized symbol of trust in our customers' products and reflect an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets, complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage. 

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:
Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com  

View original content:https://www.prnewswire.com/news-releases/jinkosolars-2000-volt-module-first-to-achieve-ul-certification-302150052.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the significance of JinkoSolar's 2000-Volt EAGLE® Modules achieving UL certification?

JinkoSolar's 2000-Volt EAGLE® Modules are the first to meet UL61730-1, UL61730-2, and IEC 61215 standards, enhancing efficiency and reducing costs for utility-scale projects.

When will JinkoSolar's 2000-Volt EAGLE® Modules be available in the U.S. market?

The modules will be selectively deployed in the U.S. in Q3 2024, with general market availability starting in 2025.

How do JinkoSolar's 2000-Volt EAGLE® Modules improve project efficiency?

The modules increase string lengths for utility-scale projects, which reduces overall system component costs and minimizes energy loss, leading to a more competitive levelized cost of energy.

What are the benefits of using JinkoSolar's 2000-Volt EAGLE® Modules?

Benefits include reduced system component costs, increased efficiency, less energy loss, a more competitive levelized cost of energy, and higher ROI for projects.

Who did JinkoSolar collaborate with to achieve UL certification for its 2000-Volt EAGLE® Modules?

JinkoSolar collaborated with UL Solutions to achieve the UL certification for its 2000-Volt EAGLE® Modules.