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Released March 27, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--JinkoSolar (NYSE:JKS) (Shanghai, China), a leading global solar panel manufacturer, is facing hurricane-force market headwinds in the U.S., as federal policies and tough competition from U.S.-based manufacturers threaten its growth. Industrial Info is tracking more than $17.5 billion worth of active and planned projects across the U.S. that are using, or considering using, Jinko as a service provider; more than $7 billion worth are capital-spending projects with a medium-to-high (70% or more) probability of beginning construction as scheduled.
Click on the image at right for a graph detailing the top 10 parent companies that are using, or considering, Jinko's services, by total investment value.
Although Jinko's global module shipments reached 92.9 gigawatts (GW) in 2024, up 18.3% from 2023, fourth-quarter shipments slipped 5% to 26,462 megawatts (MW). Jinko's total revenues were reported to be US$12.64 billion, down 22.3% from 2023. In a quarterly earnings-related presentation earlier this week, the company did not specify how much of these results could be attributed specifically to U.S. sales.
Like many Chinese-based companies with a strong presence in the U.S., Jinko is wrestling with steep tariffs imposed by U.S. President Donald Trump on products imported from China; some analysts, such as GLJ Research's Gordon Johnson, estimate some of the yet-to-be imposed measures could send tariffs on solar panel imports as high as 200%. This could result in significant losses for Jinko--particularly for the company's new plant in Saudi Arabia, set to be completed in 2026, intended to serve the U.S. market.
Jinko has at least one way to avoid Trump's tariffs: The company manufactures much of its U.S.-sold goods at its panel and module plant in Jacksonville, Florida, which is undergoing a $52 million expansion that will add equipment and production lines to increase its manufacturing capacity to a full gigawatt. But even this method is at risk: Last year, four U.S. senators introduced the "American Tax Dollars for American Solar Manufacturing Act," which would have blocked Chinese-based solar companies with factories in the U.S. from receiving domestic tax incentives.
The Jacksonville expansion kicked off in early 2024 and is set to wrap up later this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can learn more from a detailed project report and plant profile; for more information on the Senate proposal, see August 15, 2024, article - Senate Bill Would Restrict Chinese Solar Companies from Using U.S. Tax Dollars.
It is far from certain how the drama surrounding tariffs will affect solar projects already underway across the U.S. with Jinko components. Texas, which trails only California in installed solar power, is home to two such projects under construction: Greenalia S.A.'s (Coruna, Spain) $1.05 billion solar complex in Childress, outside of Amarillo, which is designed to generate 697 MW, and Kenlov Renewable Energy's (Ramat-Gan, Israel) $260 million Whitehorn Solar Plant in Fort Stockton, which is designed to generate 270 MW.
The Childress project is scheduled to wrap up later this year, while the Fort Stockton project likely will not finish construction until mid-2026. Subscribers can learn more from detailed reports on the Childress and Fort Stockton projects.
Other projects under construction include Invenergy LLC's (Chicago, Illinois) $340 million Pleasant Prairie Solar Farm in Galloway, Ohio, just outside Columbus, which is designed to generate 250 MW from Jinko modules. The project is scheduled to wrap up in the third quarter. Subscribers can learn more from a detailed project report.
Jinko's U.S.-based troubles do not end with Trump's tariffs. Last month, First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) filed a lawsuit in the U.S. District Court for the District of Delaware against Jinko, claiming Jinko infringed on First Solar's patented tunnel oxide passivated contact (TOPCon) solar technology. First Solar, for its part, enjoyed significantly stronger module sales in 2024, when compared with the previous year.
Domestic production of solar components recently hit a milestone: The Solar Energy Industries Association (SEIA) announced last month the U.S. has more than 50 GW worth of solar module-manufacturing capacity, which, at full capacity, is enough to meet all demand for solar power in the U.S. For more information, see February 10, 2025, article - U.S. Reaches Historic Solar Module Production Capacity.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of active and planned projects in the U.S. featuring Jinko's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies that are using, or considering, Jinko's services, by total investment value.Although Jinko's global module shipments reached 92.9 gigawatts (GW) in 2024, up 18.3% from 2023, fourth-quarter shipments slipped 5% to 26,462 megawatts (MW). Jinko's total revenues were reported to be US$12.64 billion, down 22.3% from 2023. In a quarterly earnings-related presentation earlier this week, the company did not specify how much of these results could be attributed specifically to U.S. sales.
Like many Chinese-based companies with a strong presence in the U.S., Jinko is wrestling with steep tariffs imposed by U.S. President Donald Trump on products imported from China; some analysts, such as GLJ Research's Gordon Johnson, estimate some of the yet-to-be imposed measures could send tariffs on solar panel imports as high as 200%. This could result in significant losses for Jinko--particularly for the company's new plant in Saudi Arabia, set to be completed in 2026, intended to serve the U.S. market.
Jinko has at least one way to avoid Trump's tariffs: The company manufactures much of its U.S.-sold goods at its panel and module plant in Jacksonville, Florida, which is undergoing a $52 million expansion that will add equipment and production lines to increase its manufacturing capacity to a full gigawatt. But even this method is at risk: Last year, four U.S. senators introduced the "American Tax Dollars for American Solar Manufacturing Act," which would have blocked Chinese-based solar companies with factories in the U.S. from receiving domestic tax incentives.
The Jacksonville expansion kicked off in early 2024 and is set to wrap up later this year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can learn more from a detailed project report and plant profile; for more information on the Senate proposal, see August 15, 2024, article - Senate Bill Would Restrict Chinese Solar Companies from Using U.S. Tax Dollars.
It is far from certain how the drama surrounding tariffs will affect solar projects already underway across the U.S. with Jinko components. Texas, which trails only California in installed solar power, is home to two such projects under construction: Greenalia S.A.'s (Coruna, Spain) $1.05 billion solar complex in Childress, outside of Amarillo, which is designed to generate 697 MW, and Kenlov Renewable Energy's (Ramat-Gan, Israel) $260 million Whitehorn Solar Plant in Fort Stockton, which is designed to generate 270 MW.
The Childress project is scheduled to wrap up later this year, while the Fort Stockton project likely will not finish construction until mid-2026. Subscribers can learn more from detailed reports on the Childress and Fort Stockton projects.
Other projects under construction include Invenergy LLC's (Chicago, Illinois) $340 million Pleasant Prairie Solar Farm in Galloway, Ohio, just outside Columbus, which is designed to generate 250 MW from Jinko modules. The project is scheduled to wrap up in the third quarter. Subscribers can learn more from a detailed project report.
Jinko's U.S.-based troubles do not end with Trump's tariffs. Last month, First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) filed a lawsuit in the U.S. District Court for the District of Delaware against Jinko, claiming Jinko infringed on First Solar's patented tunnel oxide passivated contact (TOPCon) solar technology. First Solar, for its part, enjoyed significantly stronger module sales in 2024, when compared with the previous year.
Domestic production of solar components recently hit a milestone: The Solar Energy Industries Association (SEIA) announced last month the U.S. has more than 50 GW worth of solar module-manufacturing capacity, which, at full capacity, is enough to meet all demand for solar power in the U.S. For more information, see February 10, 2025, article - U.S. Reaches Historic Solar Module Production Capacity.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of active and planned projects in the U.S. featuring Jinko's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
