The entire range of
JA Solar Holdings Co., Ltd.
) modules have received Underwriters Laboratories ("UL") 1703
certification and ETL certification in the United States and
Canada. Underwriters Laboratories is a global independent safety
science company. Post-certification, the company's modules are
permitted to be used on 1,000 Vdc systems.
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To get UL 1703 certification, these modules were tested in
Intertek laboratories. The certification proves that modules from
JA Solar Holdings comply with the requirements of widely accepted
product safety standards.
Recently the company's PV modules series have successfully
cleared salt mist corrosion and sulfur dioxide corrosion tests.
These tests confirm that JA Solar's products offer exceptional
reliability even in severe environments.
In fact, JA Solar modules are in high demand throughout the
world. In January this year, the company completed the delivery
of 9.5 MW of PV modules to the Volkswagen Solar Park. The 9.5 MW
installation consists of 33,600 high-performance
multi-crystalline silicon PV modules.
There are other companies in the industry which have also
benefited from these certifications. Last month
) 72-cell polysilicon modules were certified by UL as meeting
required standards for use in PV systems of up to 1,000 volts.
Also, the company's 60-cell and 72-cell modules were listed by UL
as meeting the required standards for use in PV systems of up to
Earlier, in Oct 2012,
First Solar Inc.
) advanced thin-film Series 3 photovoltaic (PV) solar modules
were provided UL1703 and ULC1703 from UL to be used in PV systems
of up to 1,000 volts.
Based in Ningjin of the Hebei province in the People's Republic
of China, JA Solar Holdings Company Ltd. manufactures
high-performance solar cells. JA Solar's principal customers are
solar module manufacturers, who assemble and integrate its
products into modules and systems.
The world is moving towards renewable sources of energy, thereby
increasing the demand for solar modules. The company sells
primarily to customers in China, Europe and the U.S. The company
has also entered new markets like Greece, Portugal, France, Italy
and South Korea.
The certification conclusively proves that the modules of JA
Solar are fit for a wide range of solar installations. This
official recognition would place the company in a strong position
and boost its module demand.
However, we remain concerned about the industry-wide high
inventory level, tepid module demand in Europe, rising
competition, wafer dependency and the financial stability of its
customers. The company presently retains a short-term Zacks Rank
In the near term, we would advise investors to accumulate its
short-term Zacks #2 Rank (Strong Buy rating) peer