Theoretically, Tier One solar panel companies are the largest and most technically-capable enterprises in the business. If this were true, a purchaser could mitigate risks by simply attaining a company’s tier classification. Unfortunately, Tier 1 status does not truly correlate with quality. The dynamism of the Solar Industry Market and the qualifications required for Tier 1 status make these classifications a thing of the past.
Since the industry is growing rapidly, the way we measure efficiency is capricious. The top manufacturers one day, soon become contentious organizations the next, failing to meet requirements, attempting to resolve large recalls, and essentially going bankrupt.
Tier status once proved a company “bankable” (meaning the manufacturers would be financed by non-development banks). These modules therefore must have met high quality standards—this, however, is no longer the case.
Now, top tier organizations can earn their position by having the highest revenue, the most employees, or the biggest market share.Market research and analysis simply can’t judge efficiency the way we’d like it to.
So, what’s a purchaser to do?
As a client you want to trust that your project is in good hands. Moving away from tier status does not leave you without tools to measure quality and risks. Factory auditing and field inspections are appropriate, and perhaps the safest route. ReneSola has always encouraged third party testing of our solar products, eliciting unwavering confidence in clients regarding quality and efficiency.
You want to determine where a module was manufactured, how it was manufactured, and whether or not the materials have been certified. Hands-on involvement is crucial. At ReneSola, we have an open door policy and invite customers to all of our manufacturing facilities—allowing you to see, firsthand, where your module is coming from and under what conditions it’s being produced.
Ultimately, financial stability isn’t determined by an arbitrary title, but by actions. ReneSola pays close attention to components such as who it gives credit terms to and the company operates on very strict environmental and waste prevention measurements —resulting in lower all-in costs. This means better prices for our customers. While it takes more effort, being proactive and involved in your purchase will help you avoid poor acquisitions and duplicitous marketing “correlations”.