In 2023, Trina Solar reported that it shipped 65.21 GW of solar panels.
The Chinese company generated a turnover of $15.75 billion and a net profit of $768.2 million for the fiscal year.
By the end of December, the company had an annual module production capacity of 95 GW.
In 2023, Trina Solar reported a revenue of $15.75 billion, marking a 33.32% increase from the previous year, while its net profit grew by 50.26% to reach $768.2 million.
The company’s total PV module shipments for the year reached 65.21GW, reflecting a 51.33% year-on-year increase, with a gross profit margin of 15.54% on module sales.
As of March 2024, Trina Solar had surpassed 205 GW in cumulative global module shipments, with over 120 GW consisting of high-power modules based on 210 mm large-size wafers.
The company’s annual report highlighted significant growth in various business segments, including a 54.8% year-on-year increase in residential PV system shipments to 9.6 GW and a 118.2% improvement in the racking business, which delivered 9.6 GW (including 4.6 GW of trackers).
Trina Solar anticipates strong growth in these segments for 2024, with targets set at 80-90 GW of module shipments, a 20% expansion in the residential PV business, and a 50% growth in the racking business.
Trina Solar’s production capacity for polysilicon wafers, solar cells, and PV modules stood at 55 GW, 75 GW, and 95 GW, respectively, by the end of 2023, with N-type TOPCon cells accounting for 40 GW of its solar cell capacity.
The company plans to increase its production capacity to 60 GW, 105 GW, and 120 GW for polysilicon wafers, solar cells, and PV modules, respectively.
In 2023, Trina Solar successfully expanded its sales of large-scale energy storage containers and systems to six regional markets, including China, Europe, Asia-Pacific, North America, Central and East Africa, and Latin America, with a cumulative shipment volume of nearly 5 GWh.
The company also strengthened its supply and strategic partnerships with energy companies like Low Carbon, Pacific Green, and EcoSourcen.
Trina Solar invested $768.1 million in R&D initiatives in 2023, marking a 19.69% increase from the previous year.
The company is currently involved in 26 R&D projects, with a specific focus on advancing energy storage solutions, including battery pack innovations and comprehensive system integration solutions.
While acknowledging short-term challenges arising from price declines in the industrial chain due to increased competition, Trina Solar emphasized that integrated enterprises with strong control over downstream component sales can protect their upstream operations, establish cost competitiveness, and expand their market share.
Source: Trina Solar
