Governments and business owners are looking for an alternative method of getting a reliable and sustainable energy source to run their businesses.
This is a strategy to reduce the use of non-renewable energy sources such as fuels and to back up the power supply.
Solar energy, therefore, becomes the most preferred alternative for power generation with the best and cheapest renewable energy source.
This makes many government and business owners shift to solar energy as an alternative source of electricity.
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What are the Top 10 Solar Panels Companies?
As the demand for solar energy increases, more and more companies are being introduced to the market producing and supplying solar energy solutions.
In this article, I will take you through the world’s top 10 solar panel companies you need to know.
#1. Canadian Solar Inc
Canadian Solar is a leading solar manufacturing company that designs and builds solar panels and other accessories.
The company sells its products majorly in industrial, commercial, and residential applications. The company manufactures inverters, system kits, and solar modules.
Canadian Solar Inc is located in Guelph, Canada, with many other subsidiaries in the same field. The company has customers in over 160 countries worldwide, with over 20 manufacturing facilities in Asia and America.
Canadian Solar Inc has a market capacity of $2.16 billion with a net income of $188.10 million.
#2. SunPower Corp
SunPower Corp is a US-based solar panel manufacturing company with facilities in fifty states. The company majorly produces residential solar energy system solutions.
The company recorded an impressive performance in the market when its revenue grew from $347 million in 2021 to as high as $497 million in 2022.
In its strategy, SunPower Corp expects to grow even more in 2023 to become the most performing company in the industry. SunPower has a market capacity of $3.5 billion with a net income of $68.62 million and revenue of $1.78 billion.
#3. JinkoSolar Holding Co.Ltd
JinkoSolar is another top solar panel-producing company in the world based in China based on its gigawatts.
The company produces solar energy system accessories such as modules, solar cells, and other related solar installation kits.
The company has its customers distributed in more than 160 countries globally. JinkoSolar has a market capacity of $2.46 billion and a net income of $27.97 million.
The company also experienced significant growth in 2022, when its quarterly shipment modules doubled worldwide.
The company, therefore, expects more growth in its production and supply in 2033 and the coming years.
#4. SolarEdge Technologies Inc
SolarEdge Technologies designs and builds solar products such as monitoring equipment, inverters, optimizers, and other accessories.
The company also offers optimization services for photovoltaic systems worldwide. With a market capacity of $18.06 billion and a net income of $113.9 million, the company aims to become the world’s best distributor of photovoltaic systems.
The SolarEdge company has its headquarters located in Herzliya, Israel. The company also has some offices in Brazil, the United States, Asia, the United Kingdom, and Europe.
The company recorded significant growth in 2022, with its revenue increasing by 635 in the previous year.
#5. Sunrun Inc
Sunrun company designs produces and sells solar energy systems to more than twenty-two states of the United States.
The company is based in Washington, DC, with other offices in Puerto Rico. The Sunrun company also offers services such as installing and maintaining solar equipment nearby.
Their main products include rooftop solar panels, inverters, and solar batteries. The Sunrun company has a market capacity of $5.80 billion and a net income of $71.84 million.
#6. First Solar Inc
First Solar is another top-brand company producing photovoltaic power plants and solar panels.
The company also makes other services, such as installing and maintaining solar energy systems.
The company has enhanced sustainability and efficiency in its products by using thin film semiconductor material.
The unique technology of the thin film semiconductors made the company become a solar expert producer in the market.
First Solar Inc has a market capacity of $17.28 billion with a net income of $94.75.
#7. Enphase Energy Inc
Enphase solar company produces solar energy systems for homes and commercial applications.
The company has customers in over 145 countries worldwide, with a market capacity of $43.1 billion and a net income of $296.2 million.
The company experienced significant growth in 2022, increasing its market size by more than 5 billion dollars.
#8. Array Technologies Inc
Array Technologies is a United States-based company producing solar power accessories globally.
The company has key markets in Europe, Brazil, Australia, North America, Latin America, and South Africa.
The company has progressive growth with a market capacity of $3.24 billion and a net income of 48.36 million.
#9. Maxeon Solar technologies
Maxeon solar technology is a Singapore-based company that significantly impacts the solar power industry.
The company has markets in over 100 companies worldwide, producing and supplying solar cells, modules, storage solutions, microinverters, and many other accessories.
The company achieved its independent status from SunPower company in 2020. Maxeon Solar Technologies have a market capacity of $892.28 billion and a net income of $265.06 million.
The company’s revenue is $958 billion, and it expects to improve more in 2023 and the coming years.
#10 Sunnova Energy International Inc
Sunnova solar energy company manufactures and supplies solar power solutions for commercial and residential purposes.
The company is based in the United States and serves more than 246000 customers.
The Sunnova Energy International company has its headquarters in Houston and TX.
In addition, the company has more than 980 sub-dealers and other installers all over the country.
In 2022, the company recorded significant growth despite making a net loss of about $147 million.
The loss was, however, attributed to administrative and general expense issues with a change in the value of specific investments.
Always get a solar energy system kit from a recognized company when purchasing it. This will help you buy quality solar panels and other accessories for better use.
By reading this article, I hope you have learned the best solar panel companies you need to purchase your solar panel from for residential or commercial purposes.