The 7 best solar panel companies in the world (2024)

It’s only natural to gravitate toward solar panel companies with panels that boast the best efficiency ratings, value for money, and warranties. Stats always look good on paper, but an increasing number of people are starting to care about where their panels are made and by whom.

In this article, we provide you with 7 of the best solar panel companies in 2024. In doing so, we discuss the essential criteria you need to know when shopping for your new solar setup.

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What are the 7 best solar panel companies in 2024?

There isn’t exactly a shortage of solar companies out there, so we’ve decided to make things a little bit easier for you.

Here is a list of the 7 best solar panel companies (in no particular order) in 2024:

  1. SunPower
  2. LONGi Solar
  3. Canadian Solar
  4. Jinko Solar
  5. JA Solar
  6. Trina Solar
  7. First Solar

1. SunPower

SunPower logo

Key facts

Year founded1985
Company headquartersSan Jose, California, United States
CEOPeter Faricy
January 2024 market cap2,92 billion USD
Warranty informationValue-line Performance panels
25-year warranty (power, product, and service)

Flagship Maxeon panels
40-year warranty (power, product, and service)

2. LONGi Solar

LONGi solar logo

Key facts

Year founded1985
Company headquartersSan Jose, California, United States
CEOLi Zhenguo
January 2024 market cap308,19 billion USD
Warranty informationSingle glass modules
12-year product warranty
25-year performance warranty

Dual glass modules
12-year product warranty
30-year performance warranty

3. Canadian Solar

Canadian Solar logo

Key facts

Year founded2001
Company headquartersGuelph, Canada
CEOXiaohua Qu
January 2024 market cap2,04 billion USD
Warranty information25-year product and performance warranty

4. Jinko Solar

Jinko Solar Logo — best solar panel companies.

Key facts

Year founded2006
Company headquartersShanghai, China
CEOXiande Li
January 2024 market cap2,03 billion USD
Warranty information10-year product warranty
25-year linear power warranty

5. JA Solar

JA Solar Logo — best solar panel companies.

Key facts

Year founded2005
Company headquartersBeijing, China
CEOJin Baofang
January 2024 market cap105.143 billion USD
Warranty information12-year product warranty
30-year peak power warranty

6. Trina Solar

Trina Solar Logo — best solar panel companies.

Key facts

Year founded1997
Company headquartersChangzhou, China
CEOJifan Gao
January 2024 market cap140,62 billion USD
Warranty information25-year product and power warranty

7. First Solar

First Solar Logo — best solar panel companies.

Key facts

Year founded1999
Company headquartersTempe, Arizona, United States
CEOMark R Widmar
January 2024 market cap15,51 billion USD
Warranty information10-year material and workmanship warranty
25-year power output warranty

Related Reading: Tesla Vs. Enphase (Which battery should you choose?)


How we chose the best solar panel companies

A company’s financial visibility and stability aren’t the only factors you need to look out for when looking for the best solar panel manufacturers.

Product quality, performance, durability, and the warranties that a company provides are just as, if not more, important. As such, we’ve chosen the above solar companies based on the following criteria:

  • Price per watt
  • Solar panel efficiency
  • Market cap
  • Warranty period

Price per watt

Before you decide on a solar company that you want to go with, you’ll want to know the price per watt of their systems.

How do you calculate the price per watt for a solar panel system?

Solar system sizes are usually described in kilowatts (kW, where 1kW = 1,000 watts).

To calculate the price per watt, you’ll need to take the total out-of-pocket cost of the system that you are considering and divide it by the wattage capacity of that system.

For example, a 5kW solar system has 5000 watts. If that system costs $15,000, the cost per watt is:

$15,000 / 5000W = $3/W

Diagram showing the steady reduction in the cost (per watt) of solar panels over the years.
Diagram showing the steady reduction in the cost (per watt) of solar panels over the years.

Solar panel efficiency

By now, you’ve more than likely heard of solar cell efficiency. This refers to the portion of energy in the form of sunlight that can be converted via photovoltaics into electricity by the solar cell.

As such, this solar panel metric details how well your solar panel will be able to convert sunlight into usable energy.

Currently, the average efficiency rating for solar panels stands at 15%-18%. You want your panel efficiency to be as high as possible.

Why?

Because the more efficient your solar panels are, the higher their energy output, meaning more bang for your buck.

Warranty period

You’ve managed to save up for a brand-new TV and think you’ve found the perfect one. But there’s one issue: the warranty period seems a little shorter than you’d like and isn’t very comprehensive. Now that TV is no longer an option for you.

This scenario also applies to the purchasing of solar panels.

Let’s be honest — solar systems are not cheap. It stands to reason why you’d choose a solar company that trusts its products enough to back them up with extended, comprehensive warranties.

So what you’re really looking for here is a warranty that covers both the equipment (product warranty) and the performance of your panels (power output warranty).

Product warranty

Most solar companies offer at least a 10-year materials warranty.

Performance warranty

The best solar panel companies back their products with a linear performance warranty for 25 to 30 years.

The linear performance warranty guarantees that the performance of a panel will stay above a specified degradation rate (the decline in output that all solar panels experience).

This assures you that the panel will continue to have the capability to produce a specified percentage of power during the warranty period. On average, a solar panel’s performance warranty will guarantee 90% production at 10 years and 80% at 25 years.

Related Reading: LG Energy Solution Vs. Tesla Powerwall (Which battery is best for you?)


Solar panel company stats

Now that you have a better understanding of what the above terms mean and why they’re important, let’s take a closer look at how the solar companies in this article stack up against one another:

ManufacturerPrice Per WattPanel Efficiency RangeMarket CapWarranty Period
SunPower$3.3519.6% to 22.8%$2,92 billionValue-line Performance panels: 25-year Product, Performance & Service.

Flagship Maxeon panels: 40-year Product, Performance & Service.
LONGi Solar$2.8118.2% to 20.9%$308,19 billionSingle glass modules:
12-year product warranty
25-year performance warranty

Dual glass modules:
12-year product warranty
30-year performance warranty
Canadian Solar$2.9615.88% to 19.91%$2,04 billion25-year product and performance warranty
Jinko Solar$2.7918.67% to 20.38%$2,03 billion10-year product warranty
25-year linear power warranty
JA Solar$2.6615.8% to 20.4%$105.143 billion12-year product warranty
30-year peak power warranty
Trina Solar$2.8216.2% to 20.4%$140,62 billion25-year product and power warranty
First Solar$2.5317% to 18.3%$15,51 billion10-year material and workmanship warranty
25-year power output warranty

Final thoughts

Healthy competition in any industry is vital, and at the end of the day, the more options there are on the market, the better for you, the consumer.

That said, we recognize how difficult it can be to make an informed choice when there are so many solar companies to choose from.

In closing, we hope this article gives you the direction and confidence you need with your future solar system purchase.

Robert Wortrich
Robert Wortrich

Robert is a content creator and editor. His passion for researching and the environment led him to joining the Climatebiz team. When he isn’t busy writing articles or learning more about everything Green Technology-related, you’ll find him spending time with friends or hiking one of the many wonderful trails that his home – Cape Town – has to offer.

Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. Very nice

  2. Avatar
    Dheeraj Makhija January 12, 2022 at 1:03 am

    Robert,

    This article is very informative and concise. Thank you for writing. LG seems to be a good choice.

    • Avatar
      Robert Wortrich January 12, 2022 at 2:47 pm

      Hi Dheeraj,

      My absolute pleasure! Glad you found it to be a useful resource.

      All the best,

      Rob

  3. Avatar
    Bharat Dungrani March 15, 2022 at 11:18 pm

    Very informative, unbiased, and detailed information. Really appreciate side by side comparison.
    Thank you

    • Avatar
      Robert Wortrich March 16, 2022 at 10:10 am

      Hi Bharat,

      Thanks so much for your feedback, I really appreciate it! We strive to put out the best content possible and are always looking to improve.

      Keep well!

      Robert

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