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Are Tier 1 panel companies the best solar panel companies in Australia?

Let us try to understand what the Tier 1 ranking means and what it is based upon. This ranking is not given to panels but to their manufacturers. Tier 1 manufacturers construct panels with high durability and have a superior reputation in the solar industry for exceptional panel quality and service.

The Bloomberg Tier 1 ranking is given to solar panel brands on the basis of their bankability. This means that Bloomberg considers Tier1 solar manufacturers as those panel companies that have had at least six projects funded by six different commercial banks in the last two years.

Solar panels are built to last long i.e. most solar panels on the Australian market have a lifetime of nearly 30 years and some even more. It is advisable to choose a tier 1 company as there are more chances that they will be around for all those years to honour their warranty.
The reason why people want to invest in panels from Tier 1 manufacturers despite their higher prices, is that they are built with the best quality materials.

Based on their financial stability, Bloomberg ranks the top 10 percent of solar manufacturers as Tier 1 solar panel manufacturers for a proposed quarter, so the tier 1 list can vary as some will keep joining the list anew while some others drop off. The tier 1 panel manufacturers list in 2021, as well as 2022, include Sunpower, Trina Solar, REC, Jinko, Q Cells, Longi, Canadian Solar, Risen Energy, and some more brands, however, the ranking keeps fluctuating.

As the Tier 1 ranking is based on the panel manufacturers’ bankability, it does not imply that the brands that are not on this list are inferior. Therefore, it is imperative to understand some facts surrounding the tier 1 ranking before choosing the right solar for you.

Some important facts surrounding the tier 1 rating:

1) The Bloomberg tier 1 ranking system reports solar panel manufacturers on the basis of their bankability. Therefore, it is not the solar panels that are rated tier 1 but their manufacturer.

2) Tier 1 ranking is not a standard to measure the quality of the panel, only the company’s economic steadiness.

3) Tier 1 ranking is not a certification that a manufacturer receives for a lifetime. It only exists for a proposed quarter after which Bloomberg reviews the ranking. This is the reason why the list fluctuates.

4) The Bloomberg tier 1 report helps manufacturers get financers convinced of their stability to fund their future projects.

5) Tier 1 ranking helps the solar customer ascertain if the panel brand shall continue to be in business to honor its warranties.

6) The solar panel brands which are not on tier 1 solar panels list in Australia for 2021 or 2022 are not inferior. The Tier 1 ranking only gauges how financially stable a panel company is and does not measure the quality of its panels. You can also review non-tier1 but recognized panel brands like Aleo, Tindo, Panasonic, etc which have excellent credit in the industry.

Conclusion

The tier1 ranking acts as an indicator as to whether the solar panel manufacturer has the financial vigour to stand the highs and lows of the industry. It gives the new solar aspirant faith that the company will be able to live up to its warranty promises if there is a need for a claim in the future.

Do get in touch with Solar Power Nation for the best deals on the most reliable and efficient solar systems today!

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