Solar giants post $4B loss despite record 2024 shipments

Wood Mackenzie has reported that the top 10 solar PV module makers has shipped 500 GW in 2024, nearly doubling 2023 volumes. The group has posted $4 billion in losses as revenues fell. Jinko Solar, JA Solar, and LONGi were the top-ranked firms by score. These companies held 89% of global shipments and kept a 69% average utilisation rate. Seven out of ten have factories in at least three countries to handle trade limits. Vertical integration has grown as firms moved into wafer production. N-type modules led shipments, while TOPCon posted the highest efficiency. Geographic spread and upstream control are key strategies.