SolarWorld’s Revenue Grows by 40% in First Quarter of 2016

published: 2016-05-12 18:34 | editor: | category: News

SolarWorld aims to improve efficiency performance of its solar products, and this strategy helped increased quarterly revenue in the first three months of 2016 by 40% compared with 1Q15. The company will continue its investment in high-efficiency products including PERC, bifacial and 5-busbar cells.

SolarWorld met considerable growth in the U.S. and Europe markets in 1Q16 due to the markets’ demand to high-efficiency products. Consequently, the company expects to reach all of its goals for 2016.

“Quality awareness is rising everywhere, also in the market for large-scale solar projects,” said Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG. “We won some attractive orders, for example in Sri Lanka, France and the United States. Our modules with PERC technology and 72-cell-modules are particularly high in demand for projects.”

In the first three quarters, SolarWorld has invested €6 million in technological upgrades and production capacity expansions. Targets of SolarWorld’s future development are PERC, bifacial technology and 5-busbar solar cells. These methods could increase the average conversion efficiency of its cells by up to 2%, enabling the company to increase its share of high-efficiency products in its product mix.

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