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The strict criteria and methodology of PV-Tech Research are indeed helpful in categorizing which solar manufacturers are profitable and performing well in the industry, in terms of manufacturing and financial statuses. At every stage of analysis, the solar manufacturer candidates are being compared based on how the module makers have been perceived in the market from a bankability/investment perspective. Your email address will not be published. For todays article, we are going to break down the details about PV Module Bankability including all the top bankable solar brands based on the PV Tech Research report. Required fields are marked *. In addition,system compatibility is a key factor in assessing bankability. In June 2020, Trina Solar listed on the STAR Market of Shanghai Stock Exchange. LONGi is arguably the most important manufacturing entity in the PV industry today, being the largest PV wafer supplier with a massive 60-GW-plus mono capacity in China. SolarFeeds Marketplace Copyright 2022, https://www.pv-tech.org/editors-blog/pv-tech-research-set-to-reveal-investment-grades-for-global-pv-module-suppl, https://www.pv-tech.org/editors-blog/jinko-longi-first-solar-canadian-solar-retain-aa-status-in-q419-pv-modulete, Top 50 Bankable Module Brands Based on PV Tech Research, PV-Tech Bankability Research Methodology Overview. According to the company's 2021 financial report, it achieved revenue of $6.895 billion, a year-on-year increase of 51.2%, with total assets of $9.966 billion, a year-on-year increase of 39.36%. Consequently, having a strong companys books but lacking product availability, which is reflected in a low manufacturing health score, will definitely exclude the company from the bankable list. If you want to publish your articles on SolarFeeds Magazine, click here. Should you wish to request a demo? Whereas, the other solar manufacturer candidates, namely Astronergy, Seraphim, Talesun and DMEGC fell under the second tier with B-rated grades. Whereas, Jinko Solar, Canadian Solar and First Solar remained under the premium category with AA-rating grades from Q1 to Q4. Trina Solar (www.TrinaSolar.com) has once again made it to the list of tier 1 PV module makers in the Bloomberg New Energy Finance market outlook for the second quarter, thanks to its outstanding reliability, 100% bankability and expanding production capacity. Still, many solar suppliers are included in the lowest rating band (C) compared to the upper rating bands. Thus, lacking good performance in either of the two variables (M) and (F) prevents commercial-deployment bankability status for any solar module manufacturers. Current she manages, collates, and curates the best stories from the leading tech companies. Aside from that, the PV suppliers must have demonstrated good financial stability and health status over a long period in the industry. Based on the quarterly report of PV-Tech Research in 2020, LONGi is still the top bankable solar brand from Q1 to Q4 with triple A-rating grades under the premium category. .switcher .selected a.open:after {-webkit-transform: rotate(-180deg);transform:rotate(-180deg);}
Even before, shipment volume has been used to rank solar PV makers, albeit in a very simplified and generic version. Generally, the overall bankability result is calculated by solar manufacturers manufacturing scores and financial health scores. .switcher a:hover img {opacity:1;}
Lastly, the suppliers in the middle grade with scores ranging from 2-5 are called second-tier. BNEF has developed a tiering system for PV module products based on bankability and a set of strict criteria, to create a transparent differentiation between the hundreds of manufacturers of solar modules on the market. Meaning, no matter how strong the scores of manufacturing or finances, the risk-mitigation during investor due-diligence, the bankability status cannot be compensated by only one of the M or F variables, being at the upper end of its respective 0-10 score bands. Notify me of follow-up comments by email. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Dont run around requesting for quotes. .switcher .option a:hover {background:#fff;}
If all shipments are domestic, then the companies are impossible to be selected for supply to overseas projects (at least where investor due-diligence is involved). FirstView Media Ventures Pvt. Technology analysis by module supplier outlines in-house effective capacities by region/technology, global module supply by end-region, in-house technology roadmap across high-efficiency module types, CAPEX by value-chain segment, R&D spending, and more. Extensive research analysis and commentary by PV manufacturers that discusses the upward/downward trends relating to all manufacturing and financial health/standing parameters, focused specifically on module supply strategy and risk factors involved. Then the same equation will be used to test different PV module suppliers, going back as far as ten years ago if needed. Save my name, email, and website in this browser for the next time I comment. The two main requirements must be met simultaneously. Note that, even if the PV supplier is recognized as a shipment leader, but has poor financial status, it will never be considered as a candidate for the top bankable solar brands in the industry. Its cell production capacity is expected to reach 50GW+ and its module capacity 65GW+ this year to meet global demand. It was followed by Trina Solar, JA Solar, Risen, Hanwha Q Cells and GCL-SI with A-rated grades. The company has been ranked AAA, the highest category, in the latest PV ModuleTech Bankability report published by PV Tech in the second quarter of this year. On the contrary, ending child labour is key to sustainable development. says ILO Assistant Director-General and Regiona, Developing sustainable agriculture in Africa, Africa Digital Banking Transformation Report, Raising capital in a tough global environment, Mobile commerce in Africa: Growth, opportunities and challenges, Human Rights Volunteer Roles to Return for FIFA World Cup Qatar 2022, We can end child labour in Africa. To fully understand the bankability scores for the listed PV module manufacturers, it is crucial to have enough knowledge about the terms and conditions of bankability as well as how it was interpreted and presented. #selected_lang_name {float: none;}
(from 2019-2022). Industry reports indicate that global shipments of 210 modules rose sharply in 2021 to reach 26GW, Trina contributing 16GW, with cumulative 210 shipments exceeding 35GW as of the end of March 2022. The new capacity is essentially the result of 210mm downward compatibility, indicating that use of the 210mm has become an industry trend. Additionally, the solar module suppliers should not be in the mix for 100-MW-plus projects. Based on the quarterly report of PV-Tech PV ModuleTech bankability, the leading bankable solar module brands in Q4 of 2019 are First Solar, Jinko, LONGi and Canadian Solar with AA-rated grades. Annual module shipment levels >1 GW for the calendar year 2018, Listing within Top-10 PV module suppliers by volume, for one or more of the past three calendar years, (Specific to Chinese-based module suppliers) >10% annual module shipment volumes to overseas markets (non-China) during the past three years. The analysis report is segmented across operating metrics such as liquidity, leverage, debt, profitability, valuation, revenue generation, sales portion from module business, and more. On June 22 it was named an Overall High Achiever by RETC, Renewable Energy Test Center for the third year in a row. Jinko Kicks Off Phase II of the Jianshan Project for 11GW Solar Cell and 15GW Module, Trina Solar Begins Mass Production of New-Generation 430W Vertex S, Delivering Ultra-High Performance Modules for All Rooftops, Copyright 2022 PVTIME PV ModuleTech Bankability Ratings Quarterly/Q222 Release, Recognized as a Top Performer by PVEL for the eighth consecutive year. Lighting Up The Ideal Home | Episode 2: What Are The Specific Applications For Distributed PV Power Generation? In the year 2021, its no surprise that LONGi Solar remained the top bankable solar module brand across the globe. The Editorial Team at SolarFeeds is made up of knowledgeable solar industry insiders and experts who have a passion to share valuable, helpful and educational information. The model and figure below involve putting classification, terminology and description to the numbers generated. Trina's high value Vertex modules, from the Vertex S 410W to the 600W+ ultra-high-power version, cover both residential and large ground mounted power plant applications and have displayed a combination of excellent reliability, high energy yield and low LCOE. Extensive efforts are taken by PV module suppliers to create a perception with customers of technical differentiation and leadership; often this has the appearance of brand positioning, rather than being supported by any major performance benefits, or matched by investments into CAPEX (in particular for line upgrades) and R&D. In manufacturing capacity factor, the module quality, performance and reliability of each supplier are being tracked back to its cell manufacturing origin. Trina Solar and many industry professionals discussed Vertex product technology and value through an in-depth analysis of the outstanding product value and bankability rating of Vertex 600W+ modules, agreeing that 600W+ modules have become the first choice for global customers. CHANGZHOU, China, June 5, 2022 /PRNewswire/ -- Trina Solar, the leading global PV and smart energy total solution provider, has been ranked 'AAA', the highest category, in the latest PV ModuleTech Bankability report published by PV-Tech. PV Techs final bankability score is derived using a range of statistical analyses that involve gathering a wealth of data for each PV module supplier, going back 5-10 years. Here are the quarterly reports from 2019 up to the latest 2022. Trina Solars continued presence on the tier 1 list demonstrates global industry recognition of its quality modules, brand credibility and strong market competitiveness. For more information, please visit www.TrinaSolar.com. .l_name {float: none !important;margin: 0;}
Full compatibility with trackers and inverters. In 2018, Trina Solar launched its Energy IoT brand, established the Trina Energy IoT Industrial Development Alliance together with leading enterprises and research institutes in China and around the world, and founded the New Energy IoT Industrial Innovation Center. The 210mm Vertex modules have been tested by PVEL, RETC and many other world-renowned third-party reliability testing agencies. .switcher .option {position:relative;z-index:9998;border-left:1px solid #ccc;border-right:1px solid #ccc;border-bottom:1px solid #ccc;background-color:#eee;display:none;width:171px;max-height:198px;-webkit-box-sizing:content-box;-moz-box-sizing:content-box;box-sizing:content-box;overflow-y:auto;overflow-x:hidden;}
The rest of the candidates fell under the second tier and speculative category. The top 50 solar companies in the list make up over 98% of the global solar module supply today. The bankability score ranges from 0 being the lowest to 10 being the highest. Now that the Supply, Capacity and Technology scores are explained, lets now further discuss how these three values are combined to form the M factor for each PV manufacturer at each quarter-end. Typically, it was confined to top-10 shipment estimates. Trina Solar ranked second for global module shipments in 2021, with a figure of 24.8GW, and has retained that position in the first quarter of 2022, shipping 8GW. Lojayne Mohsen The rankings for module supply are frequently done on a yearly (calendar year) basis. ICP10005832-6, Fujian Yongfu Updates Its Cooperation With CHMC and CATL, 1.675 Billion Yuan! Bankability strength (B) score methodology, The Terms & Definitions of PV Module Supplier Bankability (by Scores, Categories & Rating Grades), Criteria for Solar PV Bankability Rankings, PV ModuleTech Bankability Ratings Pyramid, PV ModuleTech Bankability Rankings: Why Only a Few PV Module Suppliers Passed the Bankability Ranking? Also, the module trade barriers routinely extend to cell component origin-of-manufacture. E-mail:[emailprotected]|www.Fekracomms.com, About Trina Solar (688599. In short, 600W+ modules have become the mainstream trend in the PV industry. As a solar PV consumer, contractor and investor, you should consider a few factors in choosing the right solar panel supplier. PV ModuleTech Bankability Ratings Quarterly report, LONGi graded as only AAA-Rated module supplier in Q1 2020 PV ModuleTech Bankability release, publish your articles on SolarFeeds Magazine, click here, Most Efficient Solar Panels in 2022(commercially available), Australia Solar Energy Statistics in 2021. For example, Vertex 670 modulescan cut BOS costs by 6% and LCOE by up to 4.1%. Moreover, some solar module manufacturers, particularly those currently publicly-traded on US stock exchanges, are being strictly inspected the most, but largely based on an investor standpoint. 2019 Distributed Photovoltaics and Energy Storage Innovation Development Summit Successfully Concludes. Sadhana brings with her over 10+ years of rich industry experience. It is done thru nonlinear/power regression analysis. If you wish to get an in-depth understanding of the bankability methodology, you can visit the links below: Before the PV-Tech Research team released the top bankable module brands of the year, they underwent careful evaluation and analysis first. On the other hand, the manufacturing capacity factor (C) ranks solar PV manufacturers by assessing their in-house solar cell and module effective quarterly capacities on different global PV manufacturing zones. The resulting module capacity (Cap) value by the company (i) by manufacturing zone (p=18) is expressed as: Meanwhile, in the manufacturing technology strength score (T) the PV solar module suppliers are being ranked by assessing the investments of solar manufacturers on their capital expenditure (CAPEX), research and development (R&D). .switcher {font-family:Arial;font-size:12pt;text-align:left;cursor:pointer;overflow:hidden;width:173px;line-height:17px;}
Helena Li, President of Trina's Cell and Module business, commented: "Trina Solar has been a leading global PV module supplier for many years. Learn how your comment data is processed. Typically, this involves the companys brand positioning rather than being matched by investments into CAPEX and R&D. By default, the bankability score (B) is derived from the final output of the two terms, as opposed to any weighted summation. All of the eight suppliers almost met four out of five criteria given below, whereas some met all the five conditions: Every quarter of the year PV-Tech PV ModuleTech reveals the list of new top bankable solar module brands. Whereas, most of the (pure-play) OEMs companies and other solar distributors that often claim to be module suppliers with GW-plus capacity fall into the C category. The claim of being in any third-party agency list, such as Tier 1, etc. This means that the global financial markets and the solar industry are confident in the innovation, reliability and stability of the modulesthat Trina Solar makes. In terms ofsystem value, five leading organizations Fraunhofer ISE, DNV, BLACK &VEATCH, Enertis Applus+ and UL have studied various module sizes in Australia, Brazil, Germany, Spain, the United Arab Emirates and the United States. You can check it here. The research methodology covers a comprehensive guide to understanding, ranking and benchmarking the bankability status of top global PV module makers in different solar market segments (commercial, industrial and utility). Additionally, they get a modest ASP premium by obtaining a brand-value delta. These are some of the reasons why there are only a few solar module suppliers in the premium, AAA-rating grades and most of the suppliers only managed to be on the very bottom. Most of the time, the downstream community of the solar PV industry, from project developers, EPcs to asset owners etc, are lacking an in-depth understanding of solar PV benchmarking. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Trina continues to innovate in this area, being an early mover in n-type technology and setting its 23rd world record in March, with its 210210mm TOPCon cell achieving a maximum efficiency of 25.5%. In the Module Supplier Hierarchy, the number of module suppliers having A or B Grade rating is further decreasing. On the other hand, the other brands under the premium category, namely Risen Energy and Hanwha Q Cells remained at A-rating through the entire year. Also, the global shipments for utility deployment of each supplier must be in high-volume, for it to be in the top rating. The highest performers in the sector are referred to as triple-A-rated or AAA-rated while the C-rated is the least performer on the bankability list. For the next few weeks, the PV-Tech research team will release the next quarterly report of PV ModuleTech Bankability Ratings 2022. .switcher .option a {color:#000;padding:3px 5px;}
The PV module suppliers with bankability scores ranging from 5-10 are placed in the upper, premium grades; whereas, the lowest performers with scores between 0 and 2 are under the speculative grades. ", Cision Distribution 888-776-0942 .switcher .option::-webkit-scrollbar-thumb {border-radius:5px;-webkit-box-shadow: inset 0 0 3px rgba(0,0,0,.3);background-color:#888;}. The company engages in PV products R&D, manufacture and sales; PV projects development, EPC, O&M; smart micro-grid and multi-energy complementary systems development and sales, as well as energy cloud-platform operation. Week In MiddleEast: Iraq Awards Two Solar Power Projects To Chinese Companies; DEWAs IPP Projects Enhance Promising Investments Flow To The UAE And Dubai; UAE, France Ink Energy Partnership Agreements; Focuses on Energy Security, Affordability and Decarbonisation, ARAS Medical Devices & Equipments Co LLC Switches To Solar Energy With SirajPower, EWEC Issues Request For Qualification For 1,500 MW Al Ajban Solar PV Project, Technip Energies Of France And National Petroleum Construction Company Of UAE To Establish A New Company To Accelerate Energy Transition, Azure Sells 152 MW Rooftop Solar Assets to Radiance for Rs 536.5 Crore. Once the conditions are accepted, the challenge is simply to identify the scaling constant (k), and the power factors (m and n), within the above equation. In R&D expenditure, LONGi significantly leads the PV industry in R&D investment in the past few years, becoming the key factor in the whole industry moving from multi to mono as the dominant technology. Let quotes come to you! The Honorary Consulate General of Montenegro in India Goes Solar with HomeScape by Amplus Solar, Click to share on LinkedIn (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Skype (Opens in new window), Click to share on Pinterest (Opens in new window), Click to email a link to a friend (Opens in new window). In terms ofenergy yield, TV Rheinland, a global leader in testing and certification, has conducted empirical data analysis of the energy yield of Trina Solar 210 Vertex 600W+ modules on a global scale. Based on a proprietary analytical model to establish bankability scores and ratings, the report combines both the manufacturing and financial health of companies, the latest issue covering more than 50 PV module suppliers. Each of these variables is being monitored, interpreted and updated quarterly to finalize the new set of top bankable solar brands. Solar module manufacturers are putting extra effort in forming a perception with customers of their technical differentiation and leadership. The data used is dominated by quantitative inputs (six years back and two years forward in the case of forecasted variables), with qualitative data kept to a minimum. How PV-Tech Research Ranks PV Module Manufacturers by Bankability? The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. .switcher a img {vertical-align:middle;display:inline;border:0;padding:0;margin:0;opacity:0.8;}
Brand awareness across decision-making parties overseeing the selection of large-scale utility solar sites builds in excess of 50 MW. ReNew Power To Invest $8 Billion To Set Up Green Hydrogen Plant in Egypt, Clean Energy Share In Dubais Energy Mix Is Expected To Reach 14% By The End Of 2022, Advanced Industries Plans To Build A Solar PV Manufacturing Plant In Oman, Veolia And TotalEnergies Partner To Build The Largest Solar System For A Desalination Plant In Oman, Food And Agriculture Organisation Of The United Nations Inaugurates Solar Energy Facility At Its Headquarters In Jordan, Iran Inaugurates Its Largest Solar Panel Production Line Of 500 MW Capacity, The Arab Water Council And Partners Convene The Environment & Development Forum 2022, Electrolux Join Forces With SolarizEgypt For Building Solar Power Plants, DEWA To Invest AED 40 Billion In 5 Years For The Expansion Of Renewable And Clean Energy Projects. Many solar manufacturers are offering high-quality and built to last solar panels with a full warranty extending up to 25 years. After careful evaluation, all data are converted into quarterly Bankability Ratings, which are ranked from AAA-Rated (highest) to C-Rated (lowest, highest-risk). The bankability status is based on a combination of Manufacturing Strength scores and Financial Strength scores. from 8 AM - 9 PM ET. The manufacturing health score/ranking is expressed as: where a, b, and c are factor-dependent weightings, scaled to generate manufacturing health scores for each company by quarter (i) in a 0-10 band; S, C and T are the module supplier shipment, capacity and technology ratios introduced above; p, q and r represent power factors derived from regression analysis. According to PV-Tech, Trina Solarranked second worldwide in module shipments in 2021, and an analysis has shown that the company maintained that ranking in the first quarter of this year. LONGis guidance for its 2020 module shipments is above 20GW. Reliability: passing rigorous tests of PVEL and RETC. Production capacity reaching 65GW in 2022. Fekra Communications Speaking at the Ministerial high-level policy dialogue at the EC. For premium grade, the rating grades fall between AAA, AA, and A ratings, which is shown in the figure below. Solar PV manufacturers under the AAA label are most likely to be setting benchmarks for all other manufacturers, across a wide array of operational metrics. Top solar PV module manufacturers across the globe, are analyzed and evaluated using the provided technology and financial strength metrics by PV-Tech researchers. .switcher .selected a:hover {background:#fff}
Each solar companys manufacturing technology strength factor is being interpreted quarterly and written as. We will discuss here the role of the three factors and their relationship to one another. The said bankability report is beneficial for all global PV site investors, developers, EPCs and property-owners, where module supplier selection is critical to maximizing site performance, reliability and long-term returns. The formula used is stated below where (B) stands for bankability, (M) for manufacturing and (F) for financial scores: Whereas k symbolizes the scaling factor that points the bankability scores to a 0-10 band, m and n are power coefficients derived from regression analysis, and i is a variable that is module-supplier and time-period specific. Based on the latest release of the PV-Tech ModuleTech quarterly report (2022) only six solar PV manufacturers made it to the top. Scores are derived for each companys financial and manufacturing health these being the two key contributors to overall bankability. Manufacturing factors are composed of supply, capacity and technology. Trina Solar will continue to progress and create higher customer value globally. The module supply rankings always have restrictions when it comes to branded-module shipments to end-market customers. A report by PV Infolink in April said that the production capacity of 210mm cells will reach 295GW this year and of modules 312GW. The latest results of the field test in a project in Cologne show that the energy yield of Vertex 600W+ modules is at least 2% higher than that of reference modules. Installing a solar PV system at home or in your commercial business is indeed a long-term investment. This site uses Akismet to reduce spam. LONGi, still being the top solar brand under the premium category with AAA-rating grades, followed by Trina Solar, JA Solar, First Solar, Jinko Solar with AA-rating grades and Canadian Solar with A-rating grades. Based on our consistent financial performance, technology innovation and product value, we are proud to be ranked in the AAA category in PV Tech's bankability ratings. Crown Advanced Material to Add BO Fluorine-Free Backsheets Production, TotalEnergies and Veolia partner to Build the Largest Solar System for a Desalination Plant in Oman, JinkoSolar s Subsidiary Jiangxi Jinko Announces Proposed Issuance of Convertible Bonds of up to RMB10 Billion, Solar Alliance Completes Construction of 500-KW Utility Solar Project for LG&E and KU in Kentucky, Effects of COVID-19 on the German PV Market Manageable, Development to Remain Steady With the Removal of the 52GW Cap, Number of Cancelled and Postponed Conferences Continue to Rise Amid Coronavirus Epidemic, Chinese Photovoltaic Enterprises Combine for More Than 80 Million Yuan in Donations Towards Coronavirus Relief Efforts, Risen Energy at Bloomberg Summit London: Asset Securitization Can Reduce the Leverage Cost of Energy Finance. Trina Solar said in its financial report for 2021 that it plans to reach 65GW in module production capacity this year. Founded in 1997, Trina Solar is the world leading PV and smart energy total solution provider. Trina Solar scored 100% in the BNEF Bankability Survey in each of the six years to 2021 and is a tier 1 PV module maker, following the AAA rating in the PV ModuleTech Bankability report last week. Among the companies on the Tier 1 list, only seven took part in both tests, Trina Solar being one of them. Bankability: 100% and AAA rating validating global trust.