AKCOME vs First Solar - solar panel manufacturer comparison

AKCOME is a Chinese manufacturer founded as Zhejiang Akcome New Energy Technology, based in Zhejiang province. The company built its reputation around HJT (heterojunction) cell technology and at one point held BloombergNEF Tier 1 status, but was removed from the list in 2024. Its financial position deteriorated sharply amid China's panel oversupply crisis: the company reported net losses every year from 2019, suspended production at multiple subsidiaries, and in July 2024 a Chinese court accepted a bankruptcy reorganization application for its main photovoltaic unit, Zhejiang Akcome Photovoltaic Technology. Its shares were subsequently delisted from the Shenzhen Stock Exchange. First Solar, by contrast, is a US-based manufacturer headquartered in Tempe, Arizona, founded in 1999. It holds a consistent BloombergNEF AA bankability rating - one of only four module suppliers globally at that level - and has been expanding aggressively, with total nameplate capacity reported at roughly 23.5 GW across facilities in Ohio, Alabama, and overseas by late 2025, plus a further US plant planned for 2026. In terms of institutional standing, First Solar is in a different league.

The two companies serve largely non-overlapping segments. AKCOME targeted the high-efficiency crystalline-silicon market using HJT technology, positioning modules toward commercial rooftop and smaller utility projects, but its near-term product availability is deeply uncertain given its restructuring status. First Solar's entire lineup is built around CdTe (cadmium telluride) thin-film technology, which produces lower per-cell efficiency than crystalline silicon but delivers superior performance in high-temperature and diffuse-light conditions, a lower annual degradation rate of around 0.3%, and a 30-year performance warranty. Its Series 7 modules - rated at roughly 525-550 W - are designed exclusively for large utility-scale ground-mount projects and are almost entirely sold through long-term supply agreements with developers.

For any buyer evaluating these two brands today, First Solar is the clear default for utility-scale procurement where US-manufactured content, bankability, and long-term supply certainty matter. AKCOME, given its unresolved restructuring and delisting, cannot be recommended for new project commitments without very specific due diligence on the current legal and operational status of any remaining entity.

Generated by Claude Sonnet · 2026-06-07