Suntech Solar | What You Need To Know
Posted: 25 Jun 2020
Tagged: Residential | Solar PV |
Suntech Power are a Chinese producer of solar panels founded by Dr. Shi Zhengrong in 2001. They produce tier 1 solar panels and offer 12 years of product warranties and 25 years of performance warranties. They’ve supplied over 22GW PV modules to different countries.
- Production facilities are located in Wuxi, Luoyang, Qinghai, Shanghai, Germany, Japan, and Goodyear, Arizona plus their Power offices are in China, Australia, the United States, Switzerland, Spain, Italy, Germany, Japan.
- Suntech Power was awarded as the 2008 Solar Energy Development Company of the Year by Frost & Sullivan.
Struggle and Recovery:
Suntech was one of the leading companies back in 2008 but everything went out of control in 2011-2012. Suntech’s stock price dropped to under $1.00 due to this, they were facing bankruptcy.
During 2013, Suntech faced even more struggles due to defaulting on $541 million of convertible bonds, as a result the main branch of Suntech filed for bankruptcy in Jiangsu, China. Suntech also filed for Chapter 15 bankruptcy in Manhattan, NY in February 2014 for protection from US creditors.
Early in 2014, Shunfeng Photovoltaic International Ltd acquired Wuxi Suntech Power for $483 million (USD). With this takeover, Shunfeng is looking to expand their services from upstream solar products manufacturing to downstream power generation and making it a one-stop-shop for solar energy power needs. Therefore Suntech now has a solid financial backing with almost zero debt and are well-positioned to reclaim their position as global leader in the solar PV market again.
What Sets Suntech Power Apart:
- Suntech solar panel has power production capabilities up to 325W.
- Systems are tested against salt mist corrosion and have been approved for increased wind & snow loads.
- They produce tier 1 solar panels with a 12-year product warranty, a 25-year performance warranty and a positive power tolerance of 0/+5%. Suntech solar panels offer up to 18.4% efficiency. As the solar panels are certified for corrosion-resistance, they are highly suitable for installation around coastal areas.
- Suntech Power was the third solar manufacturer in the world to pass their test and has VDE certification.
What Should You Do?
The best way to get the solar panels that suit you is to compare quotes from multiple, experienced CEC accredited installers in your area. This is to ensure you are getting a system that is tailored to your needs and property, not what the installer wants to sell. It also means you find the best deal.
Solar Market partners with top solar installers across Australia and will match you up with 3 local solar installers so you can start saving on those dreaded power bills asap.
If you need more help, take our 2 min quiz to find out what kW solar panel system you need and the costs involved.
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