- Mention “JinkoSolar” in solar PV industry and most people would immediately associate the brand with its globalization.
- Indeed, the JinkoSolar brand has come a long way since it was founded in 2006.
- Within a short 15-year history, JinkoSolar is today a global player.
For four years leading up to 2020, the compound annual growth rate of JinkoSolar’s panel exceeded 15 percent annually, making it the fastest-growing solar module provider globally. Primarily a global viewed company, its biggest gains have been outside of China, major markets include US, Europe, Japan, Australia, India, Vietnam, Latin America. It also won worldwide fame thanks to its globalization strategy.
JinkoSolar’s module business has steadily built expertise to a top global market and has shed its role as a globalized player with diversified production and supply chain, branding its smart solar products in over 160 countries, and delivering more than 80 GW of high efficient solar panels, accounting for 1/10 the global installation so far.
Working closely with customers, being customer-centric and supply chain diverse across the world is JinkoSolar’s greatest differentiator. It has set up 11 factories in China, US, Malaysia today with another 1 still in planning stage in South East Asia, 3 R&D centers and 5 joint innovation centers in China, Australia, Singapore, Malaysia to establish its competitive edge. Take the US for example, JinkoSolar has the largest market share in US and is the only Chinese solar company establishing a factory locally. For many observers, JinkoSolar has become one of the most dominant solar brands in the US.
The transition from a made in China manufacturer to a made in globe brand is a challenging journey for JinkoSolar to manage and excel in. It requires dedicated efforts by the leadership team to unlock the global potential guided by global compliance. Early since 2013, JinkoSolar has taken great strides in aligning its internal leadership and hierarchy to remain responsive in a fast-moving climate action world. Making more decentralised decisions is important, and JinkoSolar has begun delegating decision-making authority to customer-facing roles and field offices, encouraging idea flow. In addition, the company has brought more international and diverse experience in its managerial ranks, hiring high-profile western executives to diversify its senior management team. This strategy should be followed and implemented in a comprehensive fashion so that diverse, global thinking and experience permeate deep into the organization’s fabric. A truly global senior management team is essential for JinkoSolar’s success in foreign markets.
Under the carbon neutrality background, JinkoSolar has pursued a philosophy of positioning its brand as technologically-advanced solution-provider. It aims to link its solution–providing legacy to the public and private customers with its future platform of solar products and solar-centric systems. So as part of JinkoSolar’s future growth strategy, it aims to dissect its core business into two groups. The first group, the vertical integrated solar module production and sales with over 40 percent compound annual growth rate, making the company one of the fastest-growing solar module providers globally.
The second group, the scenario based solar-plus group, is a perfect complement, for example solar storage, BIPV, solar pumping system, etc. The company is pushing its solar plus platform both independently and by partnering with other component manufacturers. For instance, solar powered hydrogen production, solar powered sea desalination, solar powered rural electrification, solar-storage-charging, solar irrigation, etc. To deal with these demands, JinkoSolar is committed to provide cheaper, smarter, and more energy-efficient solar products. The movement up the value chain from a Chinese manufacturer to global valued added maker is a major part of JinkoSolar’s current and future growth strategy, so it will need to take a closer look at the company’s entire global business strategy and it requires a bold, daring and global leader.