Suntech
Company Details
- Company Name
- Suntech
- No. of Employees
- 12,000 (2010)
- Revenue
- US$2.9 billion
- Sector
- Energy
- Country
- China
Overview
Suntech is the largest developer, manufacturer and supplier of photovoltaic (PV) solar energy devices. The company has now produced over 15 million solar panels with a total capacity greater than 1800 megawatts. It offers clean, sustainable power for every application and market, from off-grid systems and domestic applications to the world’s largest solar power plants.
Founded in 2001 by leading solar scientist Dr. Zhengrong Shi, and operating from its world headquarters in Wuxi, China, the company has grown to supply clients in over 80 countries with regional headquarters in San Francisco, California, USA and Schaffhausen, Switzerland.
Having grown its revenues by nearly 50% between 2009 and 2010, the company now produces a 200 watt solar panel every four seconds, and its production capacity is still increasing.
It leads world-class research to develop and commercialize the latest advancements in silicon-based solar technology, and the company’s team of more than 350 solar experts improves solar efficiency and affordability with new cell technologies, solar module designs, and encapsulation methods.
Suntech has a research and development collaboration with the University of New South Wales in Australia. These cutting-edge developments quickly find their way into Suntech’s mass-produced solar technology. For example, the jointly-developed PERL cell technology, now employed on most Suntech cells, set the world record for solar conversion efficiency in 2009.
The company's pioneering success in developing energy-efficient, cost-effective and customizable PV cells was recognized in 2008 as it was named the Frost & Sullivan Solar Energy Development Company of the Year. Frost & Sullivan analysts commented that Suntech “has gone beyond just meeting global energy needs to anticipating them as well, and highly satisfied customers testify that the [...] products are customized precisely to their needs."
Suntech adheres to stringent corporate social responsibility (CSR) principles, in fields such as employee health and safety, environmental management and social accountability, with strict and accredited assessment standards.
Current activities
The energy in sunlight falling on a square meter of the Earth’s surface is up to 350 watts in the tropics and around half that in Northern Europe. Photovoltaic (PV) technology enables the direct conversion of this energy into electricity, and is likely to become an essential technology in supplying today’s energy demands in an environmentally sensitive way.
As a solar panel manufacturer, Suntech has a strong commercial interest in driving a Clean Revolution. By enabling other companies to switch to carbon-free energy, Suntech products help decarbonize the world economy, in turn reducing humanity’s effect on the climate.
The company aims to drive towards grid parity and widespread global adoption of solar energy solutions; grid parity is the point at which solar costs the same amount as non-renewable energy. Costs of fossil fuels are rising, and the cost per kilowatt/hour of solar power is falling, thanks to its increasing production capacity and corporate collaboration efforts.
Suntech and Deutsche Bank analysts estimated in 2009 that grid parity would occur around 2015, and adoption of solar power will be hastened by effective policy frameworks and an open market.
In addition, the company’s own environmental credentials are impressive. It has committed to reporting its energy costs and to identifying energy-saving measures; improving energy management across the business, and implementing advanced energy-saving technology to reduce energy use.
In addition, it undertakes research and development to bring about new renewable energy solutions and cost-effective energy saving technologies. The efficiency of its Pluto and HiPerforma modules is at least 19% in mass production.