Tier 1 Solar Panels
What are Tier 1 solar panels? The term “Tier 1 solar panels” is often used by solar companies and installers. They refer to the Bloomberg New Energy Finance (BNEF) ranking of solar panel manufacturers across the world — a new ranking is released quarterly every year. The solar industry is constantly evolving technology and new entrants frequently enter into the industry. With that in mind, the quarterly rankings published by Bloomberg’s clean energy-focused research arm provides an insight into hundreds of solar module manufacturers of solar modules in the market.
The main criterion for each ranking is bankability. This is a measure of whether a solar project using a particular brand of solar panel or module is likely to be financed based on its profitability in the long term. The ranking doesn’t consider if such solar panels are of the best quality. BNEF also clarifies this in their report.
“We strongly recommend that module purchasers and banks do not use this list as a measure of quality, but instead consult a technical due diligence firm”.
That said, the BNEF Tier 1 list can sometimes act as a shortlist of some of the best solar panel brands. This is because each brand’s annual module capacity serves as an indication of its popularity and quality. Solar panel manufacturers in the BNEF Tier 1 list are often highly reputable with strong service levels, warranties and innovation.
Best Tier 1 Solar Panels
So, what are the best Tier 1 solar panels in 2021?
Based on BNEF’s Q2 2021 rankings, we created a shortlist of the Tier 1 solar panel manufacturers that are the most popular in Southeast Asia. Take a look below!
Note: The most popular solar panel manufacturer may differ from country to country. This often depends on the efficiency of the solar PV panel compared to its cost. Supply chain and freight considerations also come into play.
|JA Solar (China)||23,200|
|Canadian Solar (Canada)||16,100|
|Risen Energy (China)||14,100|
|SunPower / Maxeon (United States)||3,600|
|REC Group (Norway)||1,800|
In Singapore, the most popular solar panel brands are REC, Trina, Jinko and JA Solar.
REC Group’s global module capacity is significantly lower than other manufacturers. That said, REC panels are commonly used in residential projects in Singapore. This is because the company has a manufacturing plant based in Tuas. Local production means that the company is able to offer product and labour warranties of up to 25 years on their solar panels. Therefore, this is often the brand of choice for residential solar installations in Singapore.
Trina, Jinko and JA Solar are also popular, with product lines of notably high efficiency — up to 540 Wp for each panel, compared to the average of about 400 Wp. However, most of them only have a 12-year product warranty and a 25- year power output guarantee.
Malaysia is a major hub in the region for solar equipment manufacturing, with several manufacturers like Jinko, JA Solar, Q-Cells, LONGi and SunPower all having manufacturing operations in the country. In Malaysia, the most popular solar panel brands within BNEF’s latest Tier 1 list are Canadian Solar, JA Solar and Jinko.
Hanwha Q Cells and GCL are also popular brands in Malaysia. However, there were insufficient projects to assess Hanwha Q Cells in Q2 2021. Meanwhile, GCL-System has been removed from BNEF’s Tier 1 list as a result of being in default because of major debts.
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