LONGi Solar Manufacturing

LONGi Green Energy Technology is a leading manufacturer of high-efficiency mono-crystalline solar cells and modules. The company was founded in 2000 and is headquartered in Xian, the People’s Republic of China (PRC). LONGi has solar manufacturing plants in the PRC and Malaysia. LONGi has announced plans to produce up to 45 GW of solar modules per year by 2020.

Lee Zhenguo, President of LONGi believes the cost for solar energy will continue to decline. Mr. Lee believes solar energy could provide 68% of the world’s energy by 2050. Mr. Lee isn’t concerned about America’s solar tariffs, because LONGi has a strong balance sheet and robust research and development. Mr. Lee anticipates LONGi will continue to expand global solar manufacturing.

In my opinion, LONGi like all PRC solar manufacturing companies will be hit hard financially by the PRC government’s recent cancellation of all new solar purchases in 2018. The PRC government cancelled the solar equipment purchases due to insufficient transmission lines from solar farm to major metropolitan areas. Insufficient transmission lines have meant only a small percentage of the solar energy generated was actually being transmitted to residents and businesses.

The United States and India are two of the fastest growing solar market in the world. India and the United States have both imposed tariffs on solar equipment imports. The tariffs will certainly impact LONGi and all PRC solar manufacturers. In my opinion, LONGi may face turbulent financial waters in the very near future.

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