Trony Solar | Green World Investor

Thin Film Solar – All about Panel Manufacturers (Amorphous Silicon,CIGs),Stocks,Material Technology,Efficiency and Costs

6 Jul, 2011

First Solar,Miasole,Renewable Energy,Schott Solar,Sharp,Solar Energy,Solar Frontier,Solar Panels,Trony Solar

Solar Thin Film Technology has been growing rapidly despite falling costs of the mainstream Photovoltaic Crystalline Silicon Technology.While the current solar supply glut has resulted in some of the thin film solar film companies going out of business,big thin film suppliers continue with their growth plan.Solar Thin Film Technology is supposed to be the 2nd Generation successor to the mainstream Crystalline Silicon (c-Si) Technology which accounts for around 85% of world production.While a number of Weaker Hands in Thin Film have downed shutters,Thin Film Producers continue to grow and expand.The massive growth potential of Solar Energy makes it possible for both of these PV technologies to flourish.Thin Film Technology unlike c-Si has a number of variants.Amorphous Silicon (a-Si),Copper Indium Gallium Sulphide (CIGs) and Cadmium Tellurium (Cd-Te) are the 3 main types of Thin Film Technology.There are a number of manufacturers of all of these 3 types of Technology.CIGs Technology is said to have the most potential in improving efficiency and competing with c-Si,however Cd-Te is currently the top dog as the world’s biggest solar producer First Solar currently uses this technology.a-Si Technology is not that hot with low efficiencies however Oerlikon and Sharp are pushing ahead with developing this technology.

Efficiency of Solar Thin Film Technology

Amorphous Silicon Technology (a-Si)

This Thin Film Technology has the lowest average efficiency of all the solar cell technologies except immature ones like Organic Dye Cells.With most of the a-Si thin film competitors bankrupt or in a moribund state,Sharp is the only big player remaining claiming a 10% efficiency.Oerlikon has said that its new generation equipment will cuts cost to 70c/watt and improve efficiency to 10% from the current 9%.

Copper Indium Gallium Diselenide (CIGs)

This Thin Film Technology has the highest Solar Cell Efficiency and a number of established companies like TSMC,Q-Cells,Honda and startups like Miasole,Nanosolar,Solyndra are using this technology.However its production is not easy as four different materials are used.Miasole has been claiming to have achieved an efficiency of 13.8%.General range is between 11-14%.

Copper Indium Selenium (CIS)

Solar Frontier claims 11.5% efficiency for its CIS modules which are expected to go upto 14% by 2014.Note it is very closely related to the CIGs Technology differing only in the fact that it does not use Gallium.

Cadmium Tellurium (CdTe)

This technology has around 12% efficiency though GE has said that it has managed to attain 15% efficiency on commercial glass.Don’t know how much of it is true since First Solar only manages around 12% efficiency despite around 10 years of dedicated R&D.First Solar has claimed a best cell efficiency of more than 17% and is targeting to reach 15% solar panel efficiency in a couple of years as well.

Copper Zinc Tin Sulfure Selenium (CZTS)

It is a very new technology unlike the other thin film technologies and has a long way to go.However the USP is that it uses widely found metals unlike the exotic materials like Tellerium and Indium used in other Thin Film Technologies.IBM and Solar Frontier are developing this technology.It has efficiencies around th 9-10% range

Cost of Thin Film Solar Panels

Thin Film Solar Panels Cost has touched almost $1/watt as it normally is priced 15-20% cheaper than crystalline solar panels,though some companies like First Solar and Sharp manage to sell at higher price because of their brand name and system business.For utility large scale buyers of solar panel buyers,the cost is much lower.Solar Panels Costs have trended down quite in the last 3-4 years except in 2010 when they went up as solar panel demand increased by more than 150% .Solar Panel Costs are the biggest component of a Solar System Cost.The reason for the lower price of Thin Film Solar Panels is that they produce lower amounts of power for the same area of solar panels.This increases the balance of system costs like wiring,construction etc.However Thin Film Solar Panels can give better performance in some conditions like high temperature compared to silicon solar panels.

Manufacturers of Solar Thin Films

1) First Solar – First Solar is the only Solar Thin Film Manufacturer in the world and a benchmark for other thin film companies thinking of making it big.The company was promoted by Wal-Mart promoters and has seen remarkable growth in the last few.This US based company uses Cadmium Tellurium (Cd-Te) Technology and is the lowest cost panel producer in the world today if you don’t include any penalty for low efficiency.Even if you penalize the Cd-Te Technology for its lower efficiency vis-a-vis the higher efficiency crystalline technology,First Solar is clearly the leader with a core cost of 74c/watt.The company has a roadmap of reducing the cost to 52c/watt by 2014 and given its track record it seems quite achievable.There is little doubt about First Solar’s ability to survive and flourish due to its massive first mover advantage.

2) Sharp – Sharp,the Japanese Zaibatsu known more for its Electronics Products is also the world’s No 1 Company in terms Solar Module Revenues.Despite its leadership in c-Si Technology,it has shifted focus to a-Si thin film due to higher costs.Sharp has started shipping a-Si modules from its 1 GW capacity plant in Sakai.With its established distribution strengths and technological abilities in LCD Technology,Sharp is one company that can survive the c-Si onslaught.With most of the a-Si thin film competitors bankrupt or in a moribund state,Sharp can capitalize to completely capture this space.However the cost structure of Sharp is not clearly known right now to make a clear call on how this will turn out.Also a 10% efficiency while decent for a-Si technology fall far short of the 13% claims by CIGS start-ups like Miasole.

3) Solar Frontier - Solar Frontier is a subsidiary of Showa Shell Sekiyu and is listed on the Japanese Stock Exchange.The Company has big plans for the Solar Energy Market planning to increase its capacity by more than 10 times in 2011 to around 1 Gw in total.All its 3 plants are located in Miyazaki in Japan and uses previous plasma plant of Hitachi.Solar Frontier claims 11.5% efficiency for its CIS modules which are expected to go upto 14% by 2014.The Company is spending around $1 Billion in Capex for building the 1 GW capacity implying roughly $1 capex/watt which is not exactly cheap though not very expensive either.

4) Miasole – Miasole made a major splash announcing a record breaking 13.8% efficiencythin film module which it will ship in 2011.The company has also raised another $100 million in equity finance despite fall in its pre-IPO valution to $550 million from $1.2 billion earlier.Seems an attractive target for a takeover.

5) Nanosolar – This secretive CIGs startup has big backers in the form of Google and others.The company is planning to build a massive plant in US but till now there has been little news about its commercial shipments,efficiency or costs.Remains to be seen if it manages to succeed or joins the long list of thin film deaths.

6) Abound Solar - Abound Solar which is a CdTe startup has also received a massive loan guarantee like Solyndra earlier.This money is going to be used to set up manufacturing facilities in Indiana and Colorado.Abound Solar has been heavily supported the the US government’s National Renewable Energy Laboratory (NREL) and is in the process of starting a 200 MW plant in Colorado.

7) General Electric - GE has invested in a Cadmium Tellurium Startup Prime Solar which is ramping up production.Note Cd-Te is the same technology which is used by First Solar.GE has said that it has managed to attain 15% efficiency on commercial glass.Don’t know how much of it is true since First Solar only manages around 12% efficiency despite around 10 years of dedicated R&D.However if GE can even manage to get near to that level then it would surely give First Solar a run for its money.GE has also tied up with Japanese Solar Frontier to market its CIGs based modules

8) TSMC- Stion – TSMC recently bought a 21% equity stake in CIGs startup Stion for $50 million.The partnership will involve TSMC licensing Stion’s technology and doing joint research on further enhancing the technology.Stion has claimed that it has achieved a >13% efficiency and plans to increase it to 15% in the near future.TSMC has been quietly making further investments to build a large capacity in Taiwan using this technology.It recently bought module making equipment from another Taiwanese company and has also invested a substantial amount in constructing buildings and facilities for the new CIGs fab.TSMC has earlier invested in c-Si through a equity stake in Motech.

9) Masdar -Masdar PV the Abu Dhabi backed Renewable Energy company is facing problems with it its thin film business,recently firing top executives at its German thin film division.It uses SunFab Technology which has been shuttered by Applied Materials.The company ships some thin film modules here and there but is no longer an important player.

10) Saint Gobain- Hyundai – Global Glass Giant Saint Gobain is expanding its presence in the Solar Energy Manufacturing by partnering with Hyundai Heavy Industries to build a CIGs plant in South Korea with a $198 mm investment.The 50:50 JV which will be known as Hyundai Avancis will be situated in South Korea which is one of the hottest GreenGeographies in the world currently.

11) Ascent Solar – This US Based Company has a long history of making Thin Film Panels on Flexible Substances.The company is trying to survive against the onslaught of competition through strategic tie-ups with a number of companies around the world which will uses its Niche Technology.

12) Energy Conversion Devices – After First Solar,Energy Conversion Devices seemed the mostly likely viable c2mpany in Thin Film Technology.After a few quarters of profits in 2008,the company went into the red as its flexible a-Si modules failed to cut costs as fast as others.It has been shutting factories in the US and shifting to low cost locations.Still one of the biggest independent Thin Film Producers.Seems more likely that it will be bought out then survive independently.

13) Trony Solar - Trony Solar is the largest Solar Thin Film Producer in China and uses a-Si Technology to producer Solar Panels used mostly in Off-Grid Applications.The company uses its own custom made equipment and manages to get decent margins for its products.The company recently listed on the HK Stock Exchange.

14) Astronergy – Astronergy is a producer of high-efficiency thin film PV modules in mainland China, and also makes monocrystalline and polycrystalline PV modules.It is a part of the Chint Group which is one of the largest electronics suppliers in China.The company used equipment from the Oerlikon Group and produces thin film amorphous solar panels in the range of 110-140 Watts.

There are also small number of Thin Film companies like Solexant,Heliovolt and others which are still in the stealth stage.DuPont Apollo began production in the fourth quarter of 2009 with two lines that could produce 50 megawatts of panels per year in Shenzen.Other famous producers are Mitsubishi,NexPower,Kaneka,Moser Baer,Topray,Schott Solar.However for small companies to survive is becoming increasingly tough in a cutthroat market where established solar companies like Q-Cells are facing the specter of bankruptcy

Thin Film Solar Stocks

Note Thin Film Solar Companies are mostly privately held like Miasole,Nanosolar,Stion and others.However there are a few solar thin film stocks which trade on stock exchanges.Note most of the stocks have small market capitalization except for First Solar which is the biggest thin film stock by value.Some of the solar stocks have faced a torrid 2011 with massive oversupply of solar panels and competition from low cost Chinese Solar Panels.Here is a list of Solar Thin Film Stocks

1) First Solar (FSLR)

2) Ascent Solar (ASTI)

3) Energy Conversion Devices (ENER)

4) Trony Solar (it is listed on the Hong Kong Stock Exchange)

5) Sharp (listed in Japan and US Pink Sheets)

Besides these companies here is list of the solar thin film ventures and companies that have shut down or are in the process of shutting down

The First Wave of Thin Film Bankruptcies

Applied Materials is perhaps the biggest loser with the managment all but giving up on its Thin Film Equipment Division (SunFab).This turnkey technology has failed to keep up with the decline in costs and improvment in Technology.With most of its customers already writing off their investments,AMAT too has reduced support to SunFab
Oerlikon Solar like AMAT had bet its future on supplying a-Si Thin Film Equipment to customers and was giving Applied Materials tough competition.However the falling poly prices have resulted in sharp order cuts for Oerlikon and the survival of its thin film division too is in doubt
Q-Cells has written off its investments in 2 of its thin film divisions -Calyxo (CdTe) and Sunfilm (aSi).Only Solibro (CIGS) division has survived the major restructuring of Q-Cells which saw a multi billion dollar loss in 2009 and resignation of its CEO.
Suntech a-Si Division which was set up in Shanghai with a SunFab equipment from Applied Materials has been written off according to the management and will be retooled to manufacture high efficiency c-Si cells.
Moser Baer was one of the first customers of Applied Materials SunFab Line.However the company had problems in ramping up its line.Recent results do not inspire any confidence in the success of its thin film venture
Signet Solar was one of the best known a-Si startups with a strong management team.However like other SunFab customers it is too facing a bleak future with recent news of cancellation of its expansion plans
Sanyo had set up a JV with Nippon Oil with grandiose plans to manufacture a-Si panels with a planned 1 GW capacity by2015.This JV Sanyo Eneos too is deferring its expansion plans with the cost/efficiency metrics not being competetive against c-Si modules
Masdar PV the Abu Dhabi backed Renewable Energy company is facing problems with it its thin film business,recently firing top executives at its German thin film divisio

Second Wave of Solar Bankruptcies

1) Solyndra – The biggest and most famous solar bankruptcy of all times with the Obama administration coming under a massive attack.The company raised a billion dollars in equity and debt for its custom made cylinderical thin film CIGs solar panels.However the relentless competition from the low cost Chinese and its high cost structure has made it almost impossible for the company to survive any longer.

2) Suntech closed its CSG division which it had bought in the 2008 boom but was facing an uncertain future.

Heliovolt and Ascent Solar have sold controlling equity stakes to Asian conglomerates like the SK Group being unable to go ahead alone given the substantial costs of manufacturing expansion and marketing etc.

Amorphous Silicon Solar Panels – Sale Price,Manufacturers,Lifespan and Amorphous vs Crystalline Silicon

6 Jul, 2011

Applied Materials,Masdar,Sharp,Solar Energy,Solar Panels,Trony Solar

Astroenergy Amorphous Silicon Solar Panels

Amorphous Silicon Solar Panels were the big rage in 2-3 years ago when the prices of polysilicon the main raw material were touching $500/kg making the mainstream crystalline silicon solar panels very expensive.Amorphous Silicon (a-Si) on the other hand is a non-crystalline silicon which is deposited as an extremely thin layer on glass and other substrates.The cost of the silicon is much lower though the efficiency of solar cells which are made from a-Si is about half of those made from crystalline silicon.Applied Materials with its SunFab turnkey amorphous silicon (a-Si) equipment capitalized on this opportunity, lining up a number of customers with some customer orders in the range of a Billion Dollars.Oerlikon Solar was the other major thin film equipment market winning customers in Europe and China.Sky high poly prices also gave birth to numerous Thin Film startups planning to Manufacture and Use their own equipment rather than selling it .

Thin Film Technology came into prominence with Polysilicon Prices ruling at $400/kg

Solar Thin Film Technology is supposed to be the 2nd Generation successor to the mainstream Crystalline Silicon (c-Si) Technology which accounts for around 85% of world production.With Polysilicon(c-Si raw material) being priced at an exorbitant $400/kg in 2008 (cost of $30/kg) due to supply shortages,many companies entered the Thin Film space attracted by the huge profits in the solar industry.Applied Materials with its SunFab turnkey amorphous silicon (a-Si) equipment capitalized on this opportunity, lining up a number of customers with some customer orders in the range of a Billion Dollars.Oerlikon Solar was the other major thin film equipment market winning customers in Europe and China.Sky high poly prices also gave birth to numerous Thin Film startups planning to Manufacture and Use their own equipment rather than selling it .

Polysilicon Prices crashed to $50/kg turning Business Models Upside Down

With the Polysilicon prices crashing by almost 90% in the intervening 2 years (due to entry of multiple players) to $50/kg at present,most of these business models have become defunct.With the exception of market leader First Solar,no other thin film player has managed to penetrate the top 15 solar producer rankings.Most of the thin film divisions of larger companies have already been written off while smaller startups are struggling to survive with mainstream c-Si module prices down by more than 50%.You can read about the First Wave of Solar Thin Film Bankruptcies here.

Major Amorphous Silicon Manufacturers

Though a lot of companies have gone belly up in the amorphous silicon thin film business,some stalwarts still remain which have grown stronger with the elimination of the weaker hands in the business.Amorphous Silicon still holds good potential though it faces stiff competition from other technologies like Cadmium-Tellerium,CIGs and the crystalline silicon.Oerlikon and other comapies like Mitsubishi have developed the tandem microcrystalline technology which increases the efficiency from 7-8% to 10% by adding another layer of microcrsytalline silicon to the amorphous silicon layer.Companies like Sharp,Astroenergy are the main players remaining now

Sharp – the Japanese Zaibatsu known more for its Electronics Products is also the world’s No 1 Company in terms Solar Module Revenues.Sharp has been the solar world leader since the past 4-5 years despite stiff competition recently from upcoming Chinese Crystalline Solar (c-Si) players and Thin Film Leader First Solar.The Chinese have gained almost 50% of the world’s marketshare in Q409 from a non existent share in 2006 boosted by their low cost production .First Solar through its world beating Cadmium Tellerium(CdTe) Thin Film Technology has also managed to vault itself to the No.2 position in 2009.Sharp has started shipping a-Si modules from its 1 GW capac ity plant in Sakai.With its established distribution strengths and technological abilities in LCD Technology,Sharp is one company that can survive the c-Si onslaught.With most of the a-Si thin film competitors bankrupt or in a moribund state,Sharp can capitalize to completely capture this space.However the cost structure of Sharp is not clearly known right now to make a clear call on how this will turn out.
Oerlikon- This Swiss manufacturer does not make amorphous silicon solar panels,it sells the equipment which makes solar panels.The company remains the only large pure play manufacturer of a-Si equipment after Applied Materials called it a day.The company is claiming low costs at much better efficiency for its new equipment.Oerlikon has said that its new generation equipment will cuts cost to 70c/watt and improve efficiency to 10% from the current 9%.This equipment will be shipped to Asian customers like Astroenergy by 2012 making it competitive with other solar technologies
Energy Conversion Devices – After First Solar,Energy Conversion Devices seemed the mostly likely viable company in Thin Film Technology.After a few quarters of profits in 2008,the company went into the red as its flexible a-Si modules failed to cut costs as fast as others.It has been shutting factories in the US and shifting to low cost locations.Still one of the biggest independent Thin Film Producers.Seems more likely that it will be bought out then survive independently.The company is facing problems currently as its triple junction amorphous silicon cell technology has much higher costs than the currently available crystalline silicon panels.
Kaneka – This Japanese manufacturer is present in a number of product lines like chemicals, functional and expandable plastic products, foodstuffs, life science products and synthetic fibers as well as solar energy modules. Kaneka researches, develops and manufactures its own solar panels leveraging our advanced materials knowledge and our core competency as a chemical manufacturer for over 60 years.The company started research in 1980 on a-Si and has a HYBRID PV Module which it sells globally.The company has expanded production to 150 MW a year at Toyooka Factory from 20 MW a year.Kaneka‘s HYBRID solar panel has a tandem structure.
Its dual-layer structure of microcrystalline and amorphous silicon can capture from short to long wavelengths of the light spectrum
Masdar – Masdar, Abu Dhabi owned Green Company plans to build a Solar Thermal plant called “Shams 1? near Abu Dhabi. Masdar PV has been in the news recently with the Dismissal of its top executives as its German Thin Film plant is facing trouble.Masdar PV sourced technology and equipment from Applied Material’s Thin Film Division which is struggling to survive against the onslaught of Crystalline Silicon (c-Si) competition.Applied Materials has drastically reduced support to its “SunFab” amorphous Silicon (a-Si) thin film technology with 90% drop in Poly Silicon prices making a-Si technology uncompetitive.Q-Cells and Suntech,two major customers of Applied Material’s SunFab product have already written off their investment.With these two Solar Stalwarts failing to make a-Si products viable,it is highly unlikely that Masdar PV will get much success from this venture.
Astroenergy – This is a Chinese company which is part of the Chint Group of companies.Astroenergy sells crystalline solar panels as well as tandem and amorphous silicon solar panels.The company hopes to survive the onslaught of competition through the help of its big parent and offering a numerous types of solar panels targeted towards all groups.
Trony Solar - Trony Solar is the largest Solar Thin Film Producer in China and uses a-Si Technology to producer Solar Panels used mostly in Off-Grid Applications.TRONY is located in the Longgang District in Shenzhen. By 2015 the company plans to achieve production of 1,000 MW thin film solar cells by three stagesThe company uses its own custom made equipment and manages to get decent margins for its products.The company recently listed on the HK Stock Exchange.

Other manufactures are Anwell Technologies,Mitsubishi and Xunlight.
Amorphous vs Crystalline Silicon

1) Efficiency – The Efficiency of Amorphous Silicon Solar Panels is about 7-10% depending on different manufacturers while that for crystalline silicon panels can vary from 15% for common solar panels to 20% for the most efficient solar panels from sale by Sunpower.Note the efficiency of Monocrystalline Silicon Cells is on the higher side.

2) Cost – The cost of a-Si solar panels is generally lower by 15-20% due to the efficieny difference with crystalline silicon panels.However the drastic fall in prices of crystalline solar panels of late has made the differnece lower which has impacted the sales of Amorphous Silicon Panels

3) Weight – The Weight of Amorphous Silicon Panels is much lower than that of normal Crystalline Silicon Panels because the Thin Film that is used implies that the substrate can also be thinner.

4) Availability – Crystalline Silicon Solar Panels are much more widely and easily available than A-Si Panels

5) Flexibility – Its possible for Amorphous Panels to be flexible because their lower weight means they can be put on flexible substrates like plastic .This is not possible with crystalline silicon solar panels.

LifeSpan and Sale Prices of Amorphous Silicon Solar Panels

The lifespan of Amorphous Silicon Solar Panels is on par with that of other solar panels and most manufacturers give a warranty of more than 20 years that it won’t degrade more than 80% of its stated power performance.Note crystalline silicon solar panels also come with a standard 25 year warranty and a 10 year product warranty.

The prices of Amorphous Silicon Solar Panels can vary quite a lot depending on the size of the solar panels and the substrate that you are using.In general smaller size 25 watt solar panels cost as much as $10/watt while bigger sizes like a 150 Watt Solar Panels will cost you $3/watt.Chinese Amorphous Silicon Solar Panels are of much lower cost retailing for as low as $1/watt in bulk orders or for $1.5-$1.75/watt in retail.

China Solar Booming- Chinese Solar Panels Prices,Cost,Review,Best Manufacturers(Trina,Suntech)

17 Mar, 2011

BYD Auto,Canadian Solar,China,First Solar,LDK Solar,Solar Cells,Solar Energy,Solar Panels,Suntech,Trina Solar,Trony Solar,Yingli

China’s Solar Industry is the biggest in the world with 5 of the biggest Solar Panel Manufacturers being Chinese.The low costs of Chinese Solar Panels have made them capture almost 40% of the world’s market in 2010 up from almost 0% in 2005.The remarkable growth in the Chinese Solar Panel Industry has been due to the supportive government,low labour and capital costs and aggressive competition.This has made the higher cost solar panel manufactures cut their prices in order to retain their marketshare.Trina Solar has shown the best growth amongst the solar panel producers and it now competes with Suntech which is the world’s biggest solar panel producer.China has also got a number of Tier 2 and Tier 3 producers of solar panels.These small solar panel companies sell mostly in the spot market and quote very low prices.The quality of the solar panels of smaller companies is also suspect.Due diligence and Review of Solar Panels is necessary in order to Buy Solar Panels from China.

Chinese Solar Panel Prices and Costs

Note the Chinese Solar Panel Prices at around $1.3/watt are the lowest in the world and are sold at a substantial discount to the European and American Solar Panels.These days Solar Panels are also being outsource to China by bigger companies in the West to take advantage of the low cost Chinese Solar Panels..The Prices of Solar Panels can fluctuate a lot depending on the global supply/demand and is currently at around $1.65/watt in 2011 beginning.However the prices have come down by around 20-30% .The costs of Chinese Solar Panels differs by different companies with the lowest Panel Producers being able to producer Solar Panels at around $1/watt.

Chinese Solar Panel Manufacturers

There are many Chinese Solar Panel Manufacturers as the costs of setting up a Solar Panel Plant is quite low at around $5 million for a basic solar module line.However there are only a few big Solar Panel Companies which have capacities running into hundreds of Megawatts per year.There are also a number of big State Owned (SOE) Chinese conglomerates that are entering the Solar Panel Industry.Here is a list of the Best Chinese manufacturers of Solar Panels

Suntech – Suntech was the world’s biggest producer of solar panels in 2010 and was one the first companies to set up operations in China.Its example was followed by a host of other Chinese companies.Suntech has been slow to expand compared to the fast growing small companies in China and has lost marketshare to them.It has started to vertically integrate in order to meet the low cost challenge from Trina and Yingli.Suntech makes one of the best quality Solar Panels in China.
Yingli Green Energy - Yingli Green Energy is one of the oldest Chinese companies and is completely integrated from polysilicon.The company has been expanding rapidly and has one of the lowest cost structures in the industry.Yingli Green Energy has been sponsoring Football in Europe and has started a new line of high efficiency “Panda” Solar Panels.Yingli is the second biggest producer of Solar Panels in China
Trina Solar – Trina Solar is one of the lowest cost manufacturers of Solar Panels in the World right now and also sells it at a very low price.This is the reason that the company in a span of few short years has managed to acquire a substantial global marketshare.The prices the solar panels being sold are around $340 per 200 watt module.Trina Solar.Like Yingli and Suntech,Trina Solar Panels are one the best quality in China
Hanwha Solar One - The Company which was recently acquired by South Korean Chemicals Giant Hanwha also makes one of the cheapest panels and sells it a very low price.The quality is also quite good and with strong parentage behind it,the solar panels made by the company.Again like Trina Solar,it has very low cost Chinese manufacturing capacity.The company was earlier known as Solarfun.
Canadian Solar – The Company sells a wide variety of solar panels unlike other producers.The Solar Panel Selling Price is also quite cheap.The Company is headquartered in Canada with factories in China and Ontario.Canadian Solar is the 5th biggest producer of Solar Panels in China.
LDK Solar - This is the biggest producer of solar wafers that are used by crystalline solar panels but is losing its No.1 position to GCL Poly.Is expanding rapidly into other parts of the solar supply chain and could break into top 10 solar panel producer in the next couple of years.LDK Solar is building a huge solar panel and cell production facility.It sells Solar Panels mostly to other Solar Panel Companies.
Renesola – Very similar to LDK Solar in operations and structure,this Chinese company is the lowest cost producer of solar wafer producer in the world.It is expanding into other parts of the supply chain.Like LDK Solar,Renesola sells most of its Solar Panels under an OEM Contract
Jinko Solar – Jinko Solar has shown the fastest growth rates in the Chinese Solar Panel Industry.The company is expanding again to become one of the Top 5 Solar Panel Producers in China.Jinko Solar like Trina and Yingli is vertically integrated and has one of the lowest cost solar panel production process.
Trony Solar - Trony Solar is the largest Solar Thin Film Producer in China and uses a-Si Technology to producer Solar Panels used mostly in Off-Grid Applications.The company uses its own custom made equipment and manages to get decent margins for its products.The company recently listed on the HK Stock Exchange.

Summary

There are other major solar panels manufacturers in China like BYD,Astroenergy,Hanlong,Goldpoly,Eging,Tianwei,Sunzone etc which are setting up large gigawatt scale solar panel capacity.The existing Solar Panel Producers in China will have a tough time as the competition grows domestically as well as from other Asian like the Koreans and the Taiwanese.However currently Chinese Solar Panels are No.1 in the world in terms of volume and fast catching up in quality as well.The Chinese Solar Market is also growing rapidly as the Chinese government awards subsidies for setting up pilot plants in different provinces.However a lack of national feed in tariff like Germany is hindering the growth.

Other Greenworldinvestor articles

List of Top 15 Global Solar Thin Film Companies – Who will Survive and Who Won’t

20 Feb, 2011

Applied Materials,First Solar,GE,Masdar,Miasole,Q-Cells,Sharp,Solar Cells,Solar Frontier,Solar Panels,Trony Solar

Solar Thin Film Technology has been growing rapidly despite falling costs of the mainstream Photovoltaic Crystalline Silicon Technology.While a number of Weaker Hands in Thin Film have downed shutters,Thin Film Producers continue to grow and expand.The massive growth potential of Solar Energy makes it possible for both of these PV technologies to flourish.Thin Film Technology unlike c-Si has a number of variants.Amorphous Silicon (a-Si),Copper Indium Gallium Sulphide (CIGs) and Cadmium Tellurium (Cd-Te) are the 3 main types of Thin Film Technology.There are a number of manufacturers of all of these 3 types of Technology.CIGs Technology is said to have the most potential in improving efficiency and competing with c-Si,however Cd-Te is currently the top dog as the world’s biggest solar producer First Solar currently uses this technology.a-Si Technology is not that hot with low efficiencies however Oerlikon and Sharp are pushing ahead with developing this technology.Here is a list of the world’s top Thin Film Companies.

1) First Solar – First Solar is the only Solar Thin Film Manufacturer in the world and a benchmark for other thin film companies thinking of making it big.The company was promoted by Wal-Mart promoters and has seen remarkable growth in the last few.This US based company uses Cadmium Tellurium (Cd-Te) Technology and is the lowest cost panel producer in the world today if you don’t include any penalty for low efficiency.Even if you penalize the Cd-Te Technology for its lower efficiency vis-a-vis the higher efficiency crystalline technology,First Solar is clearly the leader with a core cost of 74c/watt.The company has a roadmap of reducing the cost to 52c/watt by 2014 and given its track record it seems quite achievable.There is little doubt about First Solar’s ability to survive and flourish due to its massive first mover advantage.

4) Miasole – Miasole made a major splash announcing a record breaking 13.8% efficiency thin film module which it will ship in 2011.The company has also raised another $100 million in equity finance despite fall in its pre-IPO valution to $550 million from $1.2 billion earlier.Seems an attractive target for a takeover.

5)Solyndra – Solyndra has been the most hyped startup in the crowded Solar Energy field and raised more than a Billion Dollars in Equity and Debt.Its proprietary CIGS cells on cylindrical tubes has been cited as path breaking American Research by US Administration.However its high costs and slow ramp up has raised a big question on its survival.It recently shut down its First Fab and puts off its IPO despite a $535 million Loan Grant from DOE

6) Q-Cells - Q-Cells has written off its investments in 2 of its thin film divisions -Calyxo (CdTe) and Sunfilm (aSi).Only Solibro (CIGS) division has survived the major restructuring of Q-Cells which saw a multi billion dollar loss in 2009 and resignation of its CEO.

7) Nanosolar – This secretive CIGs startup has big backers in the form of Google and others.The company is planning to build a massive plant in US but till now there has been little news about its commercial shipments,efficiency or costs.Remains to be seen if it manages to succeed or joins the long list of thin film deaths.

Abound Solar - Abound Solar which is a CdTe startup has also received a massive loan guarantee like Solyndra earlier.This money is going to be used to set up manufacturing facilities in Indiana and Colorado.Abound Solar has been heavily supported the the US government’s National Renewable Energy Laboratory (NREL) and is in the process of starting a 200 MW plant in Colorado.

9) General Electric - GE has invested in a Cadmium Tellurium Startup Prime Solar which is ramping up production.Note Cd-Te is the same technology which is used by First Solar.GE has said that it has managed to attain 15% efficiency on commercial glass.Don’t know how much of it is true since First Solar only manages around 12% efficiency despite around 10 years of dedicated R&D.However if GE can even manage to get near to that level then it would surely give First Solar a run for its money.GE has also tied up with Japanese Solar Frontier to market its CIGs based modules

10) TSMC- Stion – TSMC recently bought a 21% equity stake in CIGs startup Stion for $50 million.The partnership will involve TSMC licensing Stion’s technology and doing joint research on further enhancing the technology.Stion has claimed that it has achieved a >13% efficiency and plans to increase it to 15% in the near future.TSMC has been quietly making further investments to build a large capacity in Taiwan using this technology.It recently bought module making equipment from another Taiwanese company and has also invested a substantial amount in constructing buildings and facilities for the new CIGs fab.TSMC has earlier invested in c-Si through a equity stake in Motech.

11) Masdar -Masdar PV the Abu Dhabi backed Renewable Energy company is facing problems with it its thin film business,recently firing top executives at its German thin film division.It uses SunFab Technology which has been shuttered by Applied Materials.The company ships some thin film modules here and there but is no longer an important player.

12) Saint Gobain- Hyundai – Global Glass Giant Saint Gobain is expanding its presence in the Solar Energy Manufacturing by partnering with Hyundai Heavy Industries to build a CIGs plant in South Korea with a $198 mm investment.The 50:50 JV which will be known as Hyundai Avancis will be situated in South Korea which is one of the hottest Green Geographies in the world currently.

13) Ascent Solar – This US Based Company has a long history of making Thin Film Panels on Flexible Substances.The company is trying to survive against the onslaught of competition through strategic tie-ups with a number of companies around the world which will uses its Niche Technology.

14) Energy Conversion Devices – After First Solar,Energy Conversion Devices seemed the mostly likely viable company in Thin Film Technology.After a few quarters of profits in 2008,the company went into the red as its flexible a-Si modules failed to cut costs as fast as others.It has been shutting factories in the US and shifting to low cost locations.Still one of the biggest independent Thin Film Producers.Seems more likely that it will be bought out then survive independently.

15) Trony Solar - Trony Solar is the largest Solar Thin Film Producer in China and uses a-Si Technology to producer Solar Panels used mostly in Off-Grid Applications.The company uses its own custom made equipment and manages to get decent margins for its products.The company recently listed on the HK Stock Exchange.

Note Oerlikon is a major thin film equipment supplier which has been boasting of improved efficiencies at a low 50c/watt cost while Applied Materials has shut down its SunFab equipment operations.

Trony Solar plans an IPO listing in HongKong after getting rebuffed in New York

24 Aug, 2010

GCL Poly,Green IPO,Solar Energy,Trony Solar

Trony Solar a Chinese manufacturer of amorphous Silicon based modules is planning to raise $200-250 million from an IPO listing in the Hong Kong stock market.The company had earlier tried to to list itself in New York but had to cancel it due to investor disinterest.The company had been waiting in the wings for 8 months but gave up its ambitions in the beginning of August citing poor market conditions.The company is the largest Thin Film manufacturer in China and has managed to see decent growth and margins.It uses custom made Amorphous Silicon Equipment unlike company like Suntech which used equipment made by Applied Materials.Note Amorphous Silicon has faced a tough time recently with Applied Materials shutting down its SunFab Thin Film Division.Customers of AMAT like Q-Cells and others have also written down their investment due to severe price competition from mainstream crystalline technology.However some companies like Japanese leader Sharp are still continuing with their investments in Thin Film.

Trony Solar in which Intel Capital is an investor mainly supplies to the off grid market in China.Note HK listed Chinese solar firms like GCL and Comtec solar have performed much better than their NY listed Chinese peers.The HK market has also outperformed the US markets which are presently suffering from Double Dip Scares.If Trony manages to list successfully in Hong Kong it will give an impetus for other Chinese Green Companies like Daqo and others to list in HK as well.With continued apathy towards Chinese solar stocks,it is not inconceivable that you might see NY listed firms apply for a dual listing in HK as well.

Trony Solar plans up to $250 mln HK IPO – sources – Reuters

Chinese thin-film panel maker Trony Solar Holdings Co Ltd plans to raise $200 million to $250 million from a Hong Kong initial public offering in September, sources close to the deal said on Tuesday.

“The company aims to ask for the Hong Kong listing committee’s approval this Thursday,” one of the sources said.

JP Morgan (JPM.N) is handling the deal.

Trony Solar Gives Up on IPO; Another Green Casualty – NY Times

Chinese thin-film solar module maker Trony Solar has canceled its filing for an initial public offering on the New York Stock Exchange after eight months. The move further solidifies the green sector’s miserable IPO streak.Trony’s plan was to sell 19.5 million shares at between $9 and $11. The company says it withdrew its filing due to unfavorable market conditions. There’s no sign that these conditions will improve anytime soon. Many investors say that cleantech plays, by and large, are too risky and take too long to produce substantial returns.