Sinovoltaics Releases Fourth Edition of Its 2024 Financial Ranking Reports for Solar, Storage, and Inverter Companies

Sinovoltaics, a global leader in quality assurance for the solar photovoltaic (PV) and battery energy storage system (BESS) industries, has released its fourth edition of financial ranking reports for 2024. The ranking reports evaluate the financial stability of publicly listed manufacturers of PV modules, energy storage, and inverters across the U.S., Europe, and Asia.

Since 2016, Sinovoltaics has collected publicly available financial data to rank companies using the Altman Z-Score, a widely recognized financial assessment tool. Unlike the Bloomberg PV Module Tier 1 List, which considers criteria like bankability and production capacity, this tool measures a company’s financial health through profitability, leverage, liquidity, solvency, and activity ratios. This provides a transparent, apples-to-apple comparison of manufacturers.

The latest reports rank 65 solar module manufacturers, 55 energy storage manufacturers, and 33 inverter manufacturers. Trends for each company, based on data from December 2021 to September 2024, are shown in easily scanned tables. These trends provide crucial insights on how each manufacturer’s financial strength has evolved over the past three years.

The full reports for solar modules, energy storage, and inverters are available as free downloads on the Sinovoltaics website.

Procurement managers and financiers can use these rankings to evaluate and compare the financial stability of publicly traded manufacturers and evaluate the strength of enforceable warranties. Financial stability is particularly crucial in the emerging energy storage market, where there is less long-term data on manufacturers. Sinovoltaics recommends that in addition to using these reports, solar and energy storage developers also conduct thorough factory audits and quality inspections to mitigate investment risks and technical failures.

Sinovoltaics | https://sinovoltaics.com/manufacturer-ranking-reports/