Trina Solar (688599.SH), a leading global PV and smart energy total solutions provider, reported its third quarter 2022 financial results on October 30, announcing revenue of about USD 8.8 billion (RMB 58.2 billion) in the first three quarters, up 82.56% year-over-year.
Trina Solar said that by the end of the third quarter its module shipments for the year had totaled 28.79GW, tracker shipments totaled 2.8GW and energy storage shipments exceeded 300MWh. Trina Solar ranks first in the industry worldwide in the number of 210mm cell modules shipped. According to the third-party TrendForce, the industry shipped 50GW of 210mm cell modules by the end of the third quarter this year, and the shipments of 210mm cell modules had totaled 76GW from the time they went into mass production.
In mid-October Trina Solar launched its Vertex N 595W for rooftops and utility-scale projects globally, adhering to the LCOE-oriented principle, inheriting the Vertex family’s four key competencies of higher power, higher efficiency, higher energy yield and higher reliability, with 30W higher than conventional n-type modules in the market, delivering lower BOS and LCOE to projects.
Trina Solar is committed to technical innovation and continues to lead the industry with n-type technology. In August the company once again broke a world record by setting the aperture module efficiency of Vertex n-type module at 24.24%.
The new generation of Vertex N modules will be in mass production by the end of this year, more than 10 GW of n-type modules capacity is expected to be released by the first quarter of next year, and 20GW to 30GW of capacity is expected to have been put on the market by the end of next year.
The Vertex S Aesthetic Module, an upgraded product for residential market, defines the category of aesthetic black solar modules through all-around top and precise technology, including cells, bus bars, back sheets, frames, glass, modules, and packaging, delivery, unpacking, and installation in rooftop scenarios. The high-standard design is aesthetically appealing in every detail, aiming to provide customers with an enjoyable experience of high technology and aesthetics that co-exist in harmony.
Helena Li, Senior VP at Trina Solar said: “Trina Solar has always been committed to serve global customers with clean and low-carbon products. We will continue to progress through technological innovation and provide customers with high performance and high value products, for a wider range of PV application all around the world.”
Thanks to Trina Solar’s excellent product performance, technological innovation and stable financial performance, it has won recognition in the financial market and from renowned institutes. Trina Solar was once again given the top AAA ranking in the latest Module Tech Bankability Ratings report by PV-Tech for the third quarter of 2022. In addition, Trina Solar has scored 100% in the BNEF Bankability Survey for six consecutive years, and Vertex modules have rated consistently highly in the Bankability Study For Trina Solar PV Modules by UL.
The development of 210mm cell modules, including 600W+ ultra-high power modules, continues its strong push worldwide, and TrendForce says the industry has accelerated into the 600W+ era, with G12 cell (including G12R) +n-type cell technology becoming the mainstream technology for new generation of high-efficiency modules.
According to TrendForce, by the end of 2023, the production capacity of large modules will account for 89% of modules worldwide. Of that, the capacity of 210mm cell modules is expected to reach 466GW, accounting for 57% of all modules. The dominance of 210mm cell modules will continue to grow from 2023 and capacity of 210mm cell modules will account for 66.04% by the end of 2025.