Trina Solar Reports Increase of 27% Year-On-Year Revenues In 2023 Annual Report

Trina Solar Co., Ltd (“Trina Solar” or ‘the company”), a global leader in smart PV and energy storage solutions, has released its 2023 annual report, confirming revenues of $16.09 billion and representing a 27% increase on 2022. Module shipments for the year totalled 65.21GW, which is 51% higher than in 2022. 

Meanwhile, the TrinaTracker business unit had delivered more than 20GW of solar mounting systems, and the Trina Storage business unit had installed 5GWh of DC container and energy storage systems by the end of 2023. These figures are testament to Trina Solar’s continued growth as an integrated provider of smart solar and storage solutions.

The company has also announced updated module shipment figures, with total cumulative shipments to date exceeding 205GW by the end of the first quarter of 2024. Trina Solar’s 210mm modules totalled 120GW of this figure, maintaining the company’s status at the top of the global rankings and affirming its role as a leader in the industry.

Module innovation

Thanks to the company’s continued focus on innovation, Trina Solar’s Vertex N 700W+ module, based on 210mm technology and n-type i-TOPCon cells, offers a power output of up to 720.53W in serial manufacturing, the highest among mass-produced TOPCon modules. In the laboratory, the company has achieved a maximum power output of 740.6W in recent days, setting a world record for cell/module conversion efficiency or output power for the 26^th time.

Trina Solar’s production capacity at the end of 2023 was 55GW for silicon wafers, 75GW for cells, and 95GW for modules. To meet burgeoning demand, the company is building a new integrated n-type production facility, and is targeting production capacity of monocrystalline wafers, high-efficiency cells and modules of 60GW, 105GW and 120GW respectively by the end of 2024. 

TrinaTracker

By the end of 2023, TrinaTracker – a business unit of Trina Solar – had successfully delivered over 20GW of solar mounting systems in more than 60 countries. The company’s annual global tracker production capacity now stands at more than 10GW. TrinaTracker is continuing to focus on innovation, unveiling the upgraded Vanguard 1P single-axis tracker in February 2024, which is the ideal companion for Vertex N 720W modules, offering lower LCOE and higher IRR.

Trina Storage

By the end of 2023, Trina Storage – another business unit of Trina Solar – had completed 5GWh of shipments of DC container and energy storage systems for projects across all global regions. In February this year, the company launched Elementa 2, its next-generation liquid-cooled energy storage system. Elementa 2 delivers full vertical integration, using in-house battery cells featuring state-of-the-art safety capabilities, performance and durability.

It has been another year of significant progress for Trina Solar, with the company continuing to demonstrate its credentials as a leading provider of integrated solutions to suit the rapidly evolving requirements of distributors, installers and end users. The company is committed to facilitating the transformation of new power systems, and building towards a net-zero future.