10 largest solar companies

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Governments, businesses and individual consumers are increasingly turning to alternative and sustainable forms of energy beyond fossil fuels as signs of climate change intensify. While solar and other alternative energies tend to be more expensive or more difficult to produce compared to traditional fossil fuels, they have the main advantage of leaving behind a significantly lower environmental impact. Companies attempting to capitalize on the increased demand for solar power have encountered widely varying levels of success.

These are the 10 largest solar companies in terms of 12-month rolling revenue (TTM). This list is generally limited to companies listed on a stock exchange in the United States or Canada, either directly or through ADR. But the solar industry is largely based and listed outside of these countries, so excluding many companies would not properly represent the industry. Technically, four companies on our list have ADRs, but they negotiate so little that they are not recommended to buy. This is 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 produce semi-annual reports and therefore may have longer deadlines. Almost all data is courtesy of YCharts and is as of September 11, 2020, except for those specifically designated as from other sources.

Some of the stocks below are only traded over-the-counter (OTC) in the United States, not on the stock exchange. Trading in shares over-the-counter often results in higher trading costs than trading in shares on the stock exchange. This can reduce or even exceed potential returns.

  • Revenue (TTM): $ 4.6 billion
  • Net Income (TTM): $ 163.1 million
  • Market capitalization: $ 909.9 million
  • Total rolling return over one year: 6.9%
  • Stock Exchange: New York Stock Exchange

JinkoSolar is a Chinese holding company which produces solar cells, modules and other materials related to solar energy. It is one of the world’s leading producers of gigawatt (GW) solar panels delivered. The company serves clients in China, the United States, Europe, the Middle East and South America.

  • Revenue (TTM): $ 3.2 billion
  • Net Income (TTM): $ 257.3 million
  • Market capitalization: $ 1.6 billion
  • Total rolling return over one year: 30.5%
  • Exchange: NASDAQ

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

  • Revenue (TTM): $ 3.1 billion
  • Net Income (TTM): $ 98.8 million
  • Market capitalization: $ 7.4 billion
  • Total rolling return over one year: 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 uses thin-film semiconductor technology to improve the efficiency and durability of its solar modules.

  • Revenue (TTM): $ 2.8 billion
  • Net Profit (TTM): – $ 32.6 million
  • Market capitalization: $ 756.9 million
  • Total rolling return over 1 year: -10.5%
  • Exchange: OTC

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

  • Revenue (TTM): $ 1.9 billion
  • Net Income (TTM): $ 8.4 million
  • Market capitalization: $ 1.8 billion
  • Total rolling return over one year: 32.5%
  • Exchange: NASDAQ

SunPower designs and manufactures silicon photovoltaic cells and associated solar materials. The company offers solar energy products and services related to these products to customers around the world.

  • Revenue (TTM): $ 1.6 billion
  • Net Income (TTM): $ 173.3 million
  • Market capitalization: $ 9.4 billion
  • Total rolling return over one year: 148.9%
  • Exchange: NASDAQ

SolarEdge Technologies builds and distributes equipment and technologies for photovoltaic panels. 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.

  • Revenue (TTM): $ 1.2 billion
  • Net Income (TTM): $ 368.5 million
  • Market capitalization: $ 10.5 billion
  • Total rolling return over one year: 92.1%
  • Stock Exchange: Hong Kong Stock Exchange

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 around the world.

  • Revenue (TTM): $ 1.2 billion
  • Net income (TTM): – $ 496.1 million
  • Market capitalization: $ 2.4 million
  • Total rolling return over one year: -22.1%
  • Exchange: OTC

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

  • Revenue (TTM): $ 1.2 billion
  • Net Income (TTM): $ 9.2 million
  • Market capitalization: $ 1.5 billion
  • Total rolling return over one year: 55.3%
  • Trade-in: Xetra

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

  • Revenue (TTM): $ 972.4 million
  • Net Income (TTM): $ 17.0 million
  • Market capitalization: $ 2.8 billion
  • Total rolling return over one year: 20.4%
  • Exchange: NASDAQ

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

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