Trina Solar Shares Rise on Record Photovoltaic Power Output

China-based Trina Solar shares jumped 8.56%, closing the trading session on Dec 31, 2014 at $9.26 following the news of the company achieving a new milestone in research and development (“R&D”). The company’s multi-crystalline silicon photovoltaic (“PV”) module reached a record power output of 324.5 watt-peak (“Wp”).

Trina Solar’s Honey Plus multi-crystalline silicon PV module owns a few more world records to its name. Recently, the company set a world record for its Honey Plus p-type PERC cell that has an efficiency of 20.76%.

Trina Solar already has four world records to its name in 2014 for its p-type PERC cells and modules.

The company’s focus on technological innovations and investments in R&D ensures that the company continues to deliver increased number of efficient module shipments and keeps posting upbeat earnings and revenues.

In the third quarter of 2014, the company spent as much as $5.5 million on R&D, up 25.7% from the prior-year quarter. The company also reported solar module shipments of 1063.8 megawatts (“MW”), up 37.3% year over year.

Higher module shipments translated to higher earnings for the company in the reported quarter, leading up to a positive earnings surprise of 126.67%. Moreover, the company has been posting strong results for the last four consecutive quarters, delivering an average positive earnings surprise of 1012.9%.

With increasing competition, other solar companies are also ramping up their investments in R&D in an attempt to increase product efficiency and retain their position in the market. First Solar Inc. (FSLR – Analyst Report) built a thin-film cell in the third-quarter of 2014 with a conversion efficiency of 21%, as compared to an average conversion rate of 17%.