Jinkosolar Holding Co., Ltd. (JKS): Análise de Pestle [Jan-2025 Atualizado]

Na paisagem em rápida evolução da energia renovável, a Jinkosolar Holding Co., Ltd. fica na vanguarda da inovação tecnológica e da sustentabilidade global. Essa análise abrangente de pestles revela a intrincada rede de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam a trajetória estratégica da empresa. Desde a navegação de tensões geopolíticas complexas até as tecnologias solares inovadoras, Jinkosolar surge como um participante fundamental na transição global para soluções de energia limpa, investidores e ambientalistas promissores um vislumbre do futuro da geração sustentável de energia.

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores Políticos

Políticas de energia renovável da China

O 14º plano de cinco anos da China (2021-2025) tem como alvo 18% de consumo de energia de combustível não fóssil até 2025. O governo exige fabricantes de energia solar como Jinkosolar para obter cotas específicas de produção de energia renovável.

Aspecto político	Alvo específico	Ano de implementação
Cota de fabricação solar	95 GW Capacidade de produção anual	2024
Investimento de energia renovável	US $ 380 bilhões	2021-2025
Objetivo da neutralidade de carbono	Emissões de pico até 2030	2030

Tensões comerciais dos EUA-China

Barreiras comerciais atuais:

• Tarifa de 25% sobre as importações de painel solar chinês para os Estados Unidos
• Restrições de importação relacionadas a Xinjiang que afetam as cadeias de suprimentos solares
• Investigações antidumping em andamento

Subsídios do governo

O governo chinês fornece apoio financeiro direto aos fabricantes de tecnologia solar:

Tipo de subsídio	Quantia	Ano
Pesquisar & Subsídios de desenvolvimento	US $ 78 milhões	2023
Incentivos de exportação	3-5% do valor da exportação	2024

Dinâmica do mercado solar geopolítico

Tendências globais de investimento solar:

• O investimento solar global atingiu US $ 495 bilhões em 2022
• A China controla 80% da fabricação de painéis solares globalmente
• Crescimento do investimento solar projetado: 15% anualmente até 2030

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores econômicos

Os custos de produção do painel solar em declínio melhoram a competitividade do mercado

Os custos de produção do painel solar diminuíram significativamente:

Ano	Custo por watt	Redução percentual
2010	$1.40	-
2020	$0.37	73.6%
2023	$0.28	80%

Mudança global para investimentos em energia renovável

Estatísticas globais de investimento em energia renovável:

Ano	Investimento total ($ b)	Compartilhamento do setor solar
2021	366	42%
2022	495	47%
2023	544	51%

Preços flutuantes da matéria -prima

Volatilidade dos preços do Polissilício:

Ano	Preço por kg ($)	Mudança de preço
2021	23.50	+45%
2022	32.80	+39.6%
2023	28.50	-13.1%

RECUPERAÇÃO ECONOCOMONAL INFRA-FIRLATIVA PANTA PANDÊMICA Investimentos de infraestrutura

Projeções de investimento em infraestrutura solar:

Ano	Instalações solares globais (GW)	Valor de investimento ($ b)
2021	168	242
2022	196	278
2023	226	315

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores sociais

A crescente conscientização global das mudanças climáticas aumenta a demanda por tecnologias solares

As instalações globais de energia renovável atingiram 295 GW em 2022, com a Solar, representando 191 GW de nova capacidade. As taxas de adoção de tecnologia solar mostram crescimento significativo nos principais mercados.

Região	Crescimento da instalação solar (2022)	Taxa de crescimento anual projetada
China	87,4 GW	15.3%
Estados Unidos	21.2 GW	12.7%
Índia	15.9 GW	14.5%
Europa	41.4 GW	10.8%

A preferência do consumidor por soluções de energia sustentável impulsiona a expansão do mercado

A pesquisa global do consumidor indica 73% de preferência por fontes de energia renovável, com energia solar classificada mais alta com 42% de juros do consumidor.

Segmento do consumidor	Preferência de energia renovável	Interesse específico da energia solar
residencial	68%	45%
Comercial	79%	38%
Industrial	82%	33%

Mercados emergentes mostrando maior interesse na infraestrutura de energia renovável

Os mercados emergentes do investimento solar atingiram US $ 148,6 bilhões em 2022, representando 40% dos investimentos globais de energia renovável.

Mercado emergente	Investimento solar 2022	Crescimento anual do investimento
Índia	US $ 14,3 bilhões	22%
Brasil	US $ 7,5 bilhões	18%
Médio Oriente	US $ 12,8 bilhões	25%

Habilidades de força de trabalho Transição para setores de tecnologia verde

O emprego global em tecnologia verde atingiu 12,7 milhões de empregos em 2022, com o setor solar representando 4,3 milhões de empregos em todo o mundo.

País	Emprego da indústria solar	Taxa anual de crescimento do emprego
China	2,1 milhões	14%
Estados Unidos	760,000	11%
Índia	480,000	16%

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores tecnológicos

Inovação contínua na eficiência do painel solar e técnicas de fabricação

Jinkosolar alcançou a Eficiência de conversão de células solares de 26,1% em 2023, representando um avanço tecnológico significativo. Os módulos solares do tipo Tiger NEO NEONPE da empresa demonstraram um Melhoria de desempenho de 3,6% comparado aos painéis de geração anterior.

Métrica de tecnologia	2023 desempenho	Melhoria ano a ano
Eficiência de conversão de células solares	26.1%	+2.3%
Saída de potência do módulo	610W	+5.2%
Redução de custos de fabricação	$ 0,15/w	-7.4%

Investimentos significativos em pesquisa e desenvolvimento de tecnologias fotovoltaicas avançadas

Em 2023, Jinkosolar investiu US $ 187,3 milhões em pesquisa e desenvolvimento, representando 5,6% da receita total. A empresa apresentou 126 novos pedidos de patente Durante o ano fiscal.

Integração de inteligência artificial e aprendizado de máquina em processos de produção solar

Jinkosolar implementou sistemas de controle de qualidade orientados por IA que reduziram os defeitos de fabricação por 22.7%. Algoritmos de aprendizado de máquina eficiência da linha de produção otimizada, resultando em um Aumento de 15,4% na taxa de transferência de fabricação.

Métricas de integração da IA	2023 desempenho
Redução de defeitos de fabricação	22.7%
Melhoria da eficiência da linha de produção	15.4%
Precisão de manutenção preditiva	93.2%

A expansão de soluções de armazenamento de energia complementam avanços em tecnologia solar

Jinkosolar desenvolvido Sistemas de armazenamento de bateria de íons de lítio de próxima geração com aumento da densidade de energia de 280 wh/kg. As soluções de armazenamento de energia da empresa demonstraram um Eficiência de ida e volta de 92,5%.

Desempenho de armazenamento de energia	2023 Especificações
Densidade de energia da bateria	280 WH/KG
Eficiência de ida e volta	92.5%
Faixa de capacidade do sistema de armazenamento	50-500 kWh

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores Legais

Conformidade com os regulamentos ambientais e comerciais internacionais

Métricas de conformidade ambiental:

Tipo de regulamentação	Status de conformidade	Verificação
ISO 14001: 2015 Gestão Ambiental	Certificado	Certificação SGS
Conformidade da diretiva ROHS	100% compatível	Auditoria de terceiros 2023
Regulamentação do WEEE	Conformidade total	Padrões ambientais da UE

Proteção de propriedade intelectual em mercados globais

Estatísticas do portfólio de patentes:

Região	Patentes ativas	Investimento em patentes ($)
China	387	US $ 14,2 milhões
Estados Unidos	156	US $ 8,7 milhões
Europa	98	US $ 6,3 milhões

Certificação e padrões de energia renovável

Conformidade de certificação:

• Certificação do módulo solar IEC 61215
• Tüv Rheinland Quality Certification
• Ul 1703 Standard Standard Compliance

Requisitos legais de fabricação e exportação transfronteiriços

Métricas de conformidade de exportação:

País	Licenças de exportação	Taxa de conformidade aduaneira
Estados Unidos	12 licenças ativas	99.8%
Alemanha	8 licenças ativas	99.6%
Japão	6 licenças ativas	99.7%

Jinkosolar Holding Co., Ltd. (JKS) - Análise de Pestle: Fatores Ambientais

Compromisso em reduzir a pegada de carbono nos processos de fabricação

A Jinkosolar se comprometeu a reduzir sua intensidade de emissões de carbono para 0,15 kg de CO2E/W até 2025. As instalações de fabricação da empresa alcançaram as seguintes métricas de redução de carbono:

Localização	Redução de emissões de carbono	Ano
Fábricas da China	12,5% de redução	2023
Facilidade de fabricação da Malásia	8,3% de redução	2023

Apoiar a transição global para soluções de energia limpa e sustentável

Jinkosolar implantou a seguinte capacidade de energia renovável em todo o mundo:

Região	Capacidade solar instalada	Ano
Instalações cumulativas globais	70 GW	2023
Participação de mercado da China	18.2%	2023

Implementando princípios de economia circular na produção de painéis solares

Jinkosolar implementou as seguintes estratégias de economia circular:

• Taxa de reciclagem de materiais de 95% nos processos de fabricação
• Taxa de reciclagem de água de 85% nas instalações de produção
• Redução de resíduos de 22% em comparação com a média da indústria

Desenvolvimento de tecnologias de reciclagem para gerenciamento de fim de vida do painel solar

As iniciativas de reciclagem do painel solar de Jinkosolar incluem:

Tecnologia de reciclagem	Taxa de recuperação	Materiais recuperados
Reciclagem de wafer de silício	98%	Silício, prata, cobre
Reciclagem do painel de vidro	99%	Vidro de alta pureza

JinkoSolar Holding Co., Ltd. (JKS) - PESTLE Analysis: Social factors

The social factors for JinkoSolar Holding Co., Ltd. are a double-edged sword: massive, global demand for decarbonization is driving sales, but intense scrutiny over labor practices in its supply chain poses a major, immediate risk to its most profitable markets. You need to focus on how to maintain your social license to operate while capitalizing on the massive electrification trend.

Increasing corporate and consumer demand for renewable energy and decarbonization drives sales.

The societal shift toward clean energy is your primary tailwind. Consumers and corporations are demanding decarbonization, making solar the default choice for new power generation. Globally, the solar PV market is still expected to grow by 10% in 2025, reaching 655 GW of new installations, despite a slowdown from previous years. This sustained demand is why JinkoSolar's full-year 2025 module shipment guidance is robust, projected between 85.0 GW and 100.0 GW.

Corporate Power Purchase Agreements (PPAs) are a huge driver; in 2024, corporate procurement of renewable energy set a record, contracting 28 GW, which was up 34% from 2022. This massive utility-scale demand helps offset volatility in the residential segment, which in the US declined by 13% year-over-year in Q1 2025 due to high interest rates.

Labor practices in the supply chain, particularly in Xinjiang, face intense scrutiny from Western buyers.

This is the single biggest social risk for JinkoSolar, threatening access to high-value Western markets. The Uyghur Forced Labor Prevention Act (UFLPA) in the U.S. creates a rebuttable presumption that goods from the Xinjiang region, which accounts for up to 50% of the world's polysilicon supply, are made with forced labor. While JinkoSolar publicly states it condemns the use of forced labor and has reviewed and denied the claims of its involvement, the scrutiny is ongoing.

The company has been noted to have 'mostly cleared the UFLPA gauntlet' for some shipments, but the U.S. Customs and Border Protection has detained more than $2 billion worth of products, primarily solar panels, since June 2022, barring about one-quarter for UFLPA violations. This risk is defintely a cost of doing business and requires constant, expensive supply chain tracing.

Supply Chain Scrutiny Metric (2025)	Value/Impact	Significance for JinkoSolar
U.S. Full-Year Shipment Guidance (JKS)	85.0 GW to 100.0 GW	High target requires stable access to all major markets.
H1 2025 Shipments to Overseas Markets	> 60% of 41.8 GW	Western buyer sentiment directly impacts the majority of revenue.
Global Polysilicon Supply from Xinjiang	Up to 50%	Indicates the systemic industry exposure to UFLPA risk.
Q3 2025 Gross Profit Margin	7.3%	Improved margin suggests success in selling in higher-value, compliant markets.

Global shift to electric vehicles (EVs) and heat pumps increases overall electricity demand, boosting solar need.

Electrification of transport and heating is creating a massive new base load demand that only solar can meet affordably at scale. Global electricity demand is forecast to grow by around 4% in 2025, driven significantly by the increasing uptake of electric vehicles and heat pumps.

Here's the quick math: a typical EV consumes about 3,000 kWh of electricity annually, which is slightly more than an average household, and a family-sized heat pump adds another 4,000 kWh. This new, concentrated demand is why solar PV alone is expected to meet roughly half of the growth in global electricity demand over 2024 and 2025. This trend is a clear, long-term opportunity for JinkoSolar's utility-scale and energy storage systems (ESS) business, where cumulative ESS shipments exceeded 3.3 GWh in the first three quarters of 2025, with a full-year expectation of approximately 6 GWh.

Public perception of solar as a mature, reliable, and cost-effective energy source is high.

The narrative has shifted from solar being a niche, subsidized technology to the most economical energy source. Solar accounted for 81% of all new renewable energy capacity added worldwide in 2024. This dominance is due to historically low prices, where new-build utility-scale solar is now less costly than other new fuel types, even without subsidies.

This positive perception is critical because it underpins the strong policy support and continued investment. The key benefits driving this public and corporate confidence are:

• Solar's record low prices, driven by manufacturing scale.
• Its unmatched versatility, from small rooftops to massive utility-scale projects.
• The technology's increasing reliability and efficiency, with JinkoSolar's mass-produced TOPCon cells exceeding 26.5% efficiency.

JinkoSolar Holding Co., Ltd. (JKS) - PESTLE Analysis: Technological factors

You're looking at JinkoSolar Holding Co., Ltd. (JKS) because they are a technology leader, not just a manufacturer, and their aggressive push into next-generation cell architecture is the single most important factor driving their near-term market dominance. The pivot from older technology to N-type Tunnel Oxide Passivated Contact (TOPCon) is essentially complete, and the company is now extracting significant efficiency gains and scale from that investment.

Frankly, their technology roadmap is what makes the stock a serious contender, but it also means they face a relentless, high-cost R&D race. They have to keep breaking records just to stay ahead of competitors like Longi and Trina Solar.

JinkoSolar is a leader in N-type Tunnel Oxide Passivated Contact (TOPCon) cell technology.

JinkoSolar has established itself as the world's first photovoltaic (PV) company to achieve large-scale mass production of N-type TOPCon technology, a crucial step beyond the previous industry workhorse, P-type Passivated Emitter and Rear Cell (PERC). This isn't a minor tweak; it's a foundational shift that dramatically improves cell performance and reliability. By the end of 2025, the company expects its annual solar cell production capacity to reach 95.0 GW, with a significant portion dedicated to this high-efficiency N-type technology.

N-type TOPCon is rapidly replacing older P-type PERC as the industry standard for higher efficiency.

The market is moving fast, so you need to understand the scale of this shift. N-type technology, primarily TOPCon, is forecast to capture up to 70% of the global solar cell market share in the coming years, effectively making P-type PERC obsolete for new utility-scale projects. JinkoSolar's early and massive scale-up of its Tiger Neo series modules, which use this technology, has allowed them to capture premium market segments. This is a classic first-mover advantage, and it's defintely paying off in their shipment volumes.

Company plans to achieve a cell conversion efficiency of over 26.5% in mass production by late 2025.

The company has already surpassed this target. By the first half of 2025, JinkoSolar's mass-produced TOPCon cells had already exceeded a conversion efficiency of 26.5%, with their high-efficiency series reaching 27.1%. This is a huge competitive edge because higher efficiency translates directly to a lower Levelized Cost of Electricity (LCOE) for end-users. Their laboratory work has pushed the full-area conversion efficiency of their 182 N-type high-efficiency TOPCon cells to a certified 27.02%.

Continuous R&D focus on next-generation technologies like perovskite-tandem cells.

The real long-term opportunity lies in perovskite-tandem cells, which stack a perovskite layer on top of a silicon cell like TOPCon to capture more of the solar spectrum. JinkoSolar is right at the cutting edge here. In June 2025, the company achieved a world-record conversion efficiency of 34.22% for its perovskite/TOPCon tandem solar cell, a record confirmed by a third party. This is theoretical for now, but it shows the potential for the next wave of efficiency gains, which could push module power output up to 670 W for the Tiger Neo 3.0 series.

Automation and digitalization of manufacturing processes are key to lowering production costs.

Scaling up high-tech manufacturing requires massive capital investment in automation to drive down the cost per watt. JinkoSolar is aggressively expanding its capacity to cement its cost leadership. Here's the quick math on their projected scale by the end of 2025:

Solar Product	Expected Annual Production Capacity (End of 2025)	Impact of Automation/Digitalization
Mono Wafer	120.0 GW	Ensures raw material supply and cost control.
Solar Cell	95.0 GW	Focus on high-efficiency N-type TOPCon production.
Solar Module	130.0 GW	Maintains market leadership in total shipments.

What this estimate hides is the ongoing technology upgrade, where the company plans to upgrade over 40% of its production capacity this year. This continuous, automated process enhancement is what keeps their manufacturing costs competitive and their product quality high, leading to a projected 40 GW to 50 GW of high-efficiency TOPCon output by year-end.

The key technological risks are simple: a competitor could commercialize a more efficient cell (like Heterojunction Technology, or HJT) faster, or the industrialization of perovskite-tandem cells could be delayed due to material stability issues. Still, JinkoSolar's current N-type lead gives them a solid runway.

Your next step: Monitor the Q4 2025 earnings call for any changes to the 130.0 GW module capacity guidance and updates on the commercialization timeline for the Tiger Neo 3.0 module series.

JinkoSolar Holding Co., Ltd. (JKS) - PESTLE Analysis: Legal factors

Enforcement of the US Uyghur Forced Labor Prevention Act (UFLPA) creates customs scrutiny and shipment delays

You need to understand that the US market is a high-reward, high-risk environment right now, driven by the strict enforcement of the Uyghur Forced Labor Prevention Act (UFLPA). This law creates a rebuttable presumption that all goods, including solar components, sourced wholly or partially from the Xinjiang region of China are made with forced labor and are thus banned from entry. Proving compliance requires deep, auditable supply chain mapping, and the burden of proof is entirely on JinkoSolar and its importers.

The numbers show the scale of the challenge: as of August 1, 2025, U.S. Customs and Border Protection (CBP) had stopped over 16,700 shipments valued at almost $3.7 billion for examination under the UFLPA, with over 10,000 shipments valued at almost $900 million ultimately denied entry. This scrutiny directly affects solar panel imports. JinkoSolar's Q1 2025 financial results already reflected the industry-wide pressure, reporting a net loss of US$181.7 million, which the company partially attributed to 'changes in international trade policies.' The risk here isn't just a tariff; it's a complete block on inventory flow.

Intellectual property (IP) disputes over solar cell technology, particularly in high-efficiency designs, are ongoing

The solar industry's shift to high-efficiency n-type technology, specifically Tunnel Oxide Passivated Contact (TOPCon) and Back Contact (BC) cells, has ignited a global IP war. The good news is that JinkoSolar and its main rival, LONGi Green Energy Technology Co., Ltd., reached a major milestone on September 19, 2025, by announcing a global settlement and a cross-licensing agreement for core patents. This truce immediately terminated all ongoing patent litigation between the two giants across key jurisdictions like the United States, China, Europe, Japan, and Australia. That's a huge reduction in legal overhead and uncertainty.

Still, the IP landscape remains active. JinkoSolar is currently involved in a patent infringement lawsuit against Indian manufacturer Waaree Energies in the U.S. District Court for the Southern District of Texas, specifically over patent US11,824,136 related to its n-type TOPCon technology. Plus, U.S. solar manufacturer First Solar initiated legal action against JinkoSolar in February 2025 for patent infringement. You have to expect these battles to continue as the company defends its technology lead-mass-produced TOPCon cell efficiency exceeded 26.5% in H1 2025, which is a core competitive advantage to protect.

Varying national content requirements (local manufacturing mandates) complicate global sales strategy

JinkoSolar's global sales strategy-with over 60% of its 41.8 GW module shipments in H1 2025 going to overseas markets-is constantly complicated by protectionist local content laws. These mandates force a decentralization of manufacturing, adding complexity and cost.

Here's the quick math on two major markets:

• US Inflation Reduction Act (IRA): To qualify for the full domestic content bonus credit, projects beginning construction in 2025 must meet a 45% Domestic Content Requirement (DCR) for manufactured products like modules. If a project fails to meet this, the direct payment for the tax credit is reduced to only 85% of the normal value.
• India's Domestic Content Requirements (DCR) and ALMM: India is pushing for full vertical integration. From August 2025, all utility-scale bids will require DCR-compliant cells. The government's ₹24,000 crore Production Linked Incentive (PLI) scheme is designed to reward companies that build integrated facilities, creating a massive barrier for pure importers.

To be fair, JinkoSolar is mitigating this by operating over 10 production facilities globally, including one in the U.S., but the constant need to adjust supply chains to meet country-specific percentages is a continuous operational and legal risk.

Compliance with the EU's Carbon Border Adjustment Mechanism (CBAM) will require detailed emissions reporting

The European Union's Carbon Border Adjustment Mechanism (CBAM) is a legal mechanism that will eventually impose a carbon price on certain imports to prevent carbon leakage. While finished solar modules are not yet directly covered, the transitional period is in full swing, and JinkoSolar must comply with the reporting requirements now, or risk penalties later.

The current phase requires detailed emissions reporting: from July 1, 2025, importers must report the actual embedded emissions for in-scope goods on a quarterly basis. The full financial mechanism, where importers will have to purchase CBAM certificates, kicks in on January 1, 2026. This is defintely a precursor to a potential carbon tariff on modules themselves, especially since the European Solar Manufacturing Council (ESMC) is lobbying to expand CBAM to include solar modules because they rely on carbon-intensive materials like aluminum and steel, which are already covered.

If solar modules were included, the cost could be significant. Based on the EU carbon price of approximately €72 per ton of CO2 and an estimated module carbon footprint of 500 kg of CO2 per kW, the added cost per module would be a new factor in European pricing and competition.

JinkoSolar Holding Co., Ltd. (JKS) - PESTLE Analysis: Environmental factors

Solar panel end-of-life waste and recycling regulations are becoming stricter, especially in Europe.

The regulatory landscape in key markets, particularly the European Union, is driving up compliance costs and requiring significant operational changes. JinkoSolar, as a global supplier, must strictly adhere to the EU's Waste from Electrical and Electronic Equipment (WEEE) Directive, which mandates Extended Producer Responsibility (EPR) for photovoltaic (PV) modules. This means the company is financially and physically responsible for the collection, transport, and recycling of its end-of-life products.

JinkoSolar is a member of international recycling organizations like PV Cycle and has achieved PV CYCLE LEED certification, confirming its products meet 100% recycling standards. This proactive approach mitigates future regulatory risk, but it is a non-negotiable cost of doing business in Europe. The WEEE Directive sets high minimum targets: a minimum 85% recovery rate and 80% preparation for reuse and recycling rate for materials in PV modules.

The company's reported recycling capabilities demonstrate its readiness to meet these stringent requirements:

Material/Method	Recycling Rate (Target/Capability)	Regulatory Context
Tempered Glass & Aluminum Frames (Physical Method)	Exceeds 98%	WEEE Directive (EU) Compliance
Silicon, Silver, & Copper (Chemical Method)	Exceeds 95%	Resource reclamation for high-value materials
WEEE Directive Minimum Target	80% Preparation for Reuse/Recycling	Mandatory EU requirement for producers

Decarbonization goals require massive solar deployment; JinkoSolar's total module shipments for 2025 are projected to exceed 110 GW.

Global decarbonization efforts are the primary tailwind for JinkoSolar, creating massive demand for their products. The company's own guidance for full-year 2025 total shipments (modules, cells, and wafers) is in the range of 85.0 GW to 100.0 GW. This volume, at the high end, is a colossal contribution to global clean energy capacity, still pushing toward the aggressive 110 GW mark the market is demanding.

Here's the quick math: If JinkoSolar maintains its technological edge and can navigate the AD/CVD landscape, a $15.5$ billion revenue year is achievable, but what this estimate hides is the razor-thin margin on each module shipped. Finance: keep a rolling 13-week cash view focused on inventory and tariff-related duties by Friday.

The company faces pressure to reduce the carbon footprint of its manufacturing process (e.g., polysilicon production).

While solar energy is clean at the point of use, the manufacturing process, especially for polysilicon, is energy-intensive and subject to intense scrutiny. JinkoSolar is actively addressing this by integrating low-carbon operations across its value chain, from R&D to transport. The company is the first PV and energy storage technology company to pass all three of the Science Based Targets initiative (SBTi) reviews, committing to a net-zero GHG emissions target across its entire value chain by 2050.

Concrete actions show a clear commitment to reducing embedded carbon:

• Built nine certified "zero-carbon factories" to date.
• Produced Neo-Green low-carbon modules, which are manufactured using certified green energy.
• Pledged to the RE100 initiative, aiming for total operations to run on 100% green energy by 2028.

Water and energy consumption in wafer and cell production are key sustainability metrics for investors.

Investors are increasingly using environmental, social, and governance (ESG) metrics to assess long-term risk and operational efficiency. Water and energy consumption in wafer and cell production-the most resource-intensive steps-are critical indicators of JinkoSolar's sustainability performance. The company's 2024 ESG report provides a key energy efficiency metric:

The electricity consumption per unit of production capacity in 2024 was 36,870.77 MWh/GW.

For water management, JinkoSolar's crystalline silicon and solar cell manufacturing are the main water usage processes. While the exact 2025 unit consumption data is pending, the focus is on conservation projects. For instance, the company's crystalline silicon business unit in Leshan achieved an annual water conservation of 75,900 tons in a prior reporting period through system improvements, demonstrating a defintely necessary focus on resource efficiency. This focus on lowering unit consumption is vital for maintaining a strong MSCI ESG rating, which was upgraded to 'A', the highest among mainstream PV companies, as of Q3 2025.