(Yicai) Jan. 18 -- The latest N-type photovoltaic modules, which have a higher photoelectric conversion efficiency than ordinary panels, are dominating global solar panel sales, helping to propel China manufacturers such as Jinko Solar to the top of the industry.

Jinko’s sales are likely to have topped 75 gigawatts last year, making it the world’s biggest PV module maker, according to data released by solar industry news outlet Solarbe. It has overtaken rival Longi Green Energy Technology which led the industry for the previous three years.

Jinko’s strong growth was driven by the firm’s increased output and emphasis on the latest N-type tunnel oxide passivated contact panel which give customers a higher rate of return on their investment, a company source told Yicai. They help power stations increase output and reduce costs, hence the strong sales growth.

There are three kinds of N-type modules, namely TOPCon, HJT, and BC, with theoretical PV conversion efficiencies ranging between 28.7 percent and 29.2 percent. This is much higher than the 24.5 percent of ordinary PERC modules.

TOPCon modules may account for 65 percent of the global market in 2024, while HJT and BC panels will hold a combined 10 percent, InfoLink Consulting said.

Jinko delivered 45 GW of N-type TOPCon modules last year, accounting for 40 percent market share and ranking first in the world, the source said. The firm’s solar panel shipments are expected to grow by no less than 30 percent this year, and 80 percent of shipments will be N-type modules.

Meanwhile Trina Solar’s TOPCon panel sales are expected to quadruple last year from 2022 to 40 GW as the Changzhou-based solar giant’s output of raw materials, N-type silicon wafers and cells grow rapidly, providing the foundation for the hike in module production, a company source told Yicai. And overall PV module shipments in the first three quarters of 2023 surged more than 50 percent to 45 GW .

Editors: Tang Shihua, Kim Taylor