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10 Biggest Solar Companies

JKS, CSIQ, and FSLR top the list of the 10 biggest solar companies

Governments, businesses and individual consumers increasingly are looking to alternative and sustainable forms of energy beyond fossil-based fuels as signs of climate change escalate. While solar and other alternative energies tend to be more expensive or more difficult to produce compared with traditional fossil fuels, they have the major benefit of leaving behind a significantly smaller environmental impact. Companies attempting to capitalize on increased demand for solar energy have encountered widely disparate levels of success.

 

These are the 10 biggest solar companies by 12-month trailing (TTM) revenue. This list is usually limited to companies that are publicly traded in the U.S. or Canada, either directly or through ADRs. But the solar industry is largely based and listed outside of those countries, so excluding many companies would not properly represent the industry. Four companies on our list technically have ADRs, but they trade so little as to make them inadvisable to purchase. These are GCL-Poly Energy Holdings Ltd. (GCPEF), Xinyi Solar Holdings Ltd. (968), Yingli Green Energy Holding Co. Ltd. (YGEHY), and SMA Solar Technology AG (S92). Some foreign companies may report semiannually, and so may have longer lag times. Nearly all data are courtesy of YCharts and are as of September 11, 2020, except those specifically designated as being from other sources.1

 

Some of the stocks below are only traded over-the-counter (OTC) in the U.S., not on exchanges. Trading OTC stocks often carries higher trading costs than trading stocks on exchanges. This can lower or even outweigh potential returns.

 

#1 JinkoSolar Holding Co. Ltd. (JKS)

  • Revenue (TTM): $4.6 billion
  • Net Income (TTM): $163.1 million
  • Market Cap: $909.9 million
  • 1-Year Trailing Total Return: 6.9%
  • Exchange: New York Stock Exchange

JinkoSolar is a Chinese holding company that produces solar cells, modules and other materials related to solar energy. It is among the top producers of solar panels globally by gigawatts (GW) delivered. The company serves customers in China, the U.S., Europe, the Middle East, and South America.

 

#2 Canadian Solar Inc. (CSIQ)

  • Revenue (TTM): $3.2 billion
  • Net Income (TTM): $257.3 million
  • Market Cap: $1.6 billion
  • 1-Year Trailing Total Return: 30.5%
  • Exchange: NASDAQ

Canadian Solar Inc. is a solar product developer that designs, builds, and sells modules with residential, commercial, and industrial applications. The company’s products include solar modules, inverters, and system kits.

 

#3 First Solar Inc. (FSLR)

  • Revenue (TTM): $3.1 billion
  • Net Income (TTM): $98.8 million
  • Market Cap: $7.4 billion
  • 1-Year Trailing Total Return: 12.0%
  • Exchange: NASDAQ

First Solar provides solar panels, photovoltaic power plants, and related services such as construction, maintenance, and recycling of these products. The company utilizes a thin film semiconductor technology to achieve enhanced efficiency and sustainability in its solar modules.

 

#4 GCL-Poly Energy Holdings Ltd. (GCPEF)

  • Revenue (TTM): $2.8 billion
  • Net Income (TTM): -$32.6 million
  • Market Cap: $756.9 million
  • 1-Year Trailing Total Return: -10.5%2
  • Exchange: OTC3

GCL-Poly Energy Holdings is a Hong Kong-based company that manufactures polysilicon for use in solar power products. The company also operates cogeneration plants in China.

 

#5 SunPower Corp. (SPWR)

  • Revenue (TTM): $1.9 billion
  • Net Income (TTM): $8.4 million
  • Market Cap: $1.8 billion
  • 1-Year Trailing Total Return: 32.5%
  • Exchange: NASDAQ

SunPower designs and builds silicon photovoltaic cells and related solar materials. The company offers solar power products as well as services relating to those products to customers worldwide.

 

#6 SolarEdge Technologies Inc. (SEDG)

  • Revenue (TTM): $1.6 billion
  • Net Income (TTM): $173.3 million
  • Market Cap: $9.4 billion
  • 1-Year Trailing Total Return: 148.9%
  • Exchange: NASDAQ

SolarEdge Technologies builds and distributes equipment and technology for photovoltaic arrays. The company provides optimization services as well as monitoring solutions for photovoltaic systems. SolarEdge’s products include monitoring equipment, optimizers, and inverters. The company is based in Israel.

 

#7 Xinyi Solar Holdings Ltd. (968)

  • Revenue (TTM): $1.2 billion
  • Net Income (TTM): $368.5 million
  • Market Cap: $10.5 billion
  • 1-Year Trailing Total Return: 92.1%4
  • Exchange: Hong Kong Stock Exchange3

Chinese Xinyi Solar Holdings manufactures solar glass. The company engages in R&D, manufacturing, technical sales, and similar services. Xinyi is a holding company that provides its products and services through subsidiaries, serving customers worldwide.

 

#8 Yingli Green Energy Holding Co. Ltd. (YGEHY)

  • Revenue (TTM): $1.2 billion
  • Net Income (TTM): -$496.1 million
  • Market Cap: $2.4 million
  • 1-Year Trailing Total Return: -22.1%5
  • Exchange: OTC3

Yingli Green Energy Holding Co. is a holding company that conducts research, designs, builds, and sells photovoltaic modules through its subsidiaries. The company is based in China.

 

#9 SMA Solar Technology AG (S92)

  • Revenue (TTM): $1.2 billion
  • Net Income (TTM): $9.2 million
  • Market Cap: $1.5 billion
  • 1-Year Trailing Total Return: 55.3%3
  • Exchange: Xetra3

German company SMA Solar Technology manufactures a variety of solar energy equipment, including solar inverters and alternating current converters. The company serves customers around the world.

 

#10 Atlantica Sustainable Infrastructure PLC (AY)

  • Revenue (TTM): $972.4 million
  • Net Income (TTM): $17.0 million
  • Market Cap: $2.8 billion
  • 1-Year Trailing Total Return: 20.4%
  • Exchange: NASDAQ

Atlantica Sustainable Infrastructure sells solar power products, in addition to transportation and transmission systems for a variety of power sources. Atlantica also owns and operates natural gas fields.

 

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