Table Of Contents
Solar Panel Systems
Choosing the right solar modules provider can be a pretty challenging task when there are so many options to choose from. Several solar panels and solar inverter installers in the market provide high-quality solar panels to customers, so it may take a bit of filtering and cross-checking to find the one that best suits your needs.
Of course, anyone looking to get solar panels wants to have a great measure of quality when choosing a manufacturer. The term "Tier 1" is bound to come up when you're looking for solar providers. But when people think of Tier 1 solar panels, they misunderstand it and think it is just a measure of quality.
This is not precisely the case. Yes, the parameter "Tier 1" is used to rank solar manufacturers efficiently producing top-quality products. However, it is also used to mark the trustworthiness and eligibility of the solar panel manufacturers to sell items around the globe. To understand this better, read on.
Tier 1 Solar Panels – An Overview
Tier 1 is a ranking measure used by Bloomberg New Energy Finance Corporation (BNEF). This authentication entity aims to set standards and criteria for the solar products produced by manufacturers. The highest quality solar panels are generally provided by those manufacturers regarded as top tier by BNEF.
Now that you know the basic concept behind the Tier 1 ranking and a manufacturer's position, it is essential to understand the financial stability of the product providers within the same ranking. The BNEF also ranks solar manufacturing companies based on their bank statements or bank stability.
The essential criteria used by the Bloomberg New Energy Finance Corporation are that the solar panel provider must have completed at least five different projects that have been financed through five different banks. The maximum duration for completing these five projects with different banks is two years.
All About The Tier System For Solar Panels
The Tier system is regarded as the best ranking system for solar manufacturers. As mentioned above, the entity responsible for ranking local companies for solar incentives or the reliability of module purchases is known as Bloomberg New Energy Finance Corporation. This tier system was introduced into the solar market to measure the reliability of the solar modules in different states of the world.
The tier system revolves around ranking manufacturers who have directly dealt with large-scale projects that size up to 1.5 megawatts (MW) or more. This system doesn't deal with anything related to the warranty duration provided by the manufacturers or their efficiency. It only revolves around the measure of the manufacturers' reliability for supplying or producing solar panels for customers around the globe.
You can also consider it an efficient ranking parameter or marker that tells how many banks are ready to invest their money into solar panel manufacturing companies. Thus, it is generally understood that if you are approaching a Tier 1 solar panel manufacturing company, you don't need to worry about whether you'll be getting cutting-edge solar panels.
This is because you can be sure that you are contacting a reliable manufacturer that has been considered an excellent platform to invest in, and as such, their solar panels will be top-notch. Therefore, Tier 1 solar panels also correspond with the manufacturer's quality as you will find that many important financial institutions or banks have considered that manufacturer reliable enough to purchase the bulk of their solar panels.
Comparing Tier 1 And Tier 2 Solar Panels
Regardless of the quality available in the production lines of solar manufacturers, BNEF makes sure to release a restricted list of manufacturers in the Tier rating. When you look at the Tier rankings, there is also a minimal margin in the number of manufacturers and their bank statements.
When it comes to comparing Tier 1 and Tier 2 solar panel manufacturers, a few things mark differences between the two categories. Tier 1 solar panels are primarily high in cost as the manufacturers believe in keeping the prices of their products at a higher level.
They think they have gained customers' trust with their Tier 1 tag. Tier 1 solar panel manufacturers are seen as the most financially stable or reliable companies. Compared to Tier 1 solar manufacturers, Tier 2 solar panel providers aren't recognised or published on the list by BNEF.
They are considered beginners who are trying to build their business by maintaining financial stability among the other competitors. Furthermore, they are still working towards getting at least six different large-scale projects to gain customers' trust. So, if you're looking for solar companies that produce top-quality solar panels for roof space, the best option is to go for Tier 1 solar panels.
Considerations When Buying Tier 1 Solar Panels
No doubt you will be worry-free if you plan on getting Tier 1 solar panels. However, there are still several factors to look out for when getting these solar panels. Ranging from the warranty to the module efficiencies, below is a list of factors to further guide you on the qualities to look for in Tier 1 solar panels:
Availability of a Warranty
When connecting with a solar panel manufacturer, you are building a long-term investment relationship with them. This long-term investment is based on the availability of a warranty for the solar panels you are getting from them. In general, such relations of customers with solar panel manufacturers can last longer than 30 years.
Thus, even if it's a Tier 1 company, the first thing you must consider is the presence of a sustainable warranty to assure you of the quality of their solar panels. Besides, the presence of a warranty also gives you an idea of the solar panels' capability to produce a considerable amount of electricity.
The Versatility of Panel Type, Size, and Colour
When you think of Tier 1 solar panel manufacturing companies, you probably expect that they should have a wide range of solar panel types, sizes, and colours. It's only natural to want a wide range of options to choose from. With Tier 1 companies, you can choose between monocrystalline or polycrystalline panels.
There are also many other options, including blue or black sheets for solar panels. In addition, the number of cells present in solar panels varies. You can choose between 60 cells or 72 cells. Your choices will depend on your need for integrating solar panels into your electric system.
Sustainability of Module Efficiency
Another important factor you should keep in mind when getting Tier 1 solar panels is the availability of the module efficiency. Solar panel manufacturers that are regarded as Tier 1 are required to provide solar modules that meet customers' power or electric needs.
The module efficiency represents the ability of the panel to produce electricity, i.e., its efficiency in capturing sunlight and converting it into electric power. It should come as no surprise then that solar modules with high module efficiency are available at much higher costs than standard solar modules. Very few manufacturers provide highly demanded module efficiencies at affordable prices.
Number of Customer Reviews
The reliability or the quality of Tier 1 solar panels is also visible from the number of customer reviews present on the manufacturer's website. We know that BNEF ranks manufacturers who have worked with five-six different banks at Tier 1 position. So, of course, they should have a long list of happy customers they have served in the past.
With that said, don't forget to look for customer reviews when looking for trustworthy and long-lasting Tier 1 solar panels. Look for common themes amongst the reviews. Are customers satisfied? Are they complaining about particular issues? This will help you know more about the quality of the services of the Tier 1 manufacturer before trusting them with all your solar needs.
This goes for non-Tier 1 solar providers as well. Reviews are a great way to decide which provider will do what they promise. So even if you want to work with providers not listed as Tier 1, customer reviews are important. You might even find companies better than Tier 1 just by reading through reviews.
Profitability of the Manufacturer
There is increasing competition in the list of Tier 1 solar panel manufacturers around the globe. That is why choosing the proper manufacturer can be a challenging task. There are usually two conditions; either a manufacturer is charging too high for its services or providing low-quality services at budget-friendly prices to attract more customers.
This is why it is important to do your own due diligence as a customer. Don't hesitate to find out as much as you can about the production line efficiency of the provider before agreeing to work with them. Other than this, you should also be aware of the financial situation of the manufacturer. This is important in order to determine their stability in the solar business.
Criteria For Ranking Tier 1 Solar Panels
Without a doubt, Tier 1 is the highest rank for any module manufacturer as assigned by BNEF. When ranking a manufacturer as a Tier 1 solar panel provider, specific points are considered. Some of these are:
They Must Have Profound Experience
Solar panel manufacturers eligible for the rank of Tier 1 must have profound experience in meeting customers' needs for many years. They must have built a solid trust level from customers with their quality supply of solar panels.
Large-Scale Manufacturing
The manufacturer should have the capability to engage in the large-scale production of solar panels. The large-scale production of solar panels also indicates the financial stability of the manufacturer.
Availability of Insurance and Backing
Another thing that makes the solar panel providers Tier 1 is the availability of insurance and backing. They should provide a sustainable warranty to their customers.
Financial Position of the Manufacturer
This is another important measure for ranking a manufacturer as Tier 1. They must be financially stable enough to have built an investment relationship with at least five-six different banks in the past.
Get Solar-Powered!
Tier 1 solar panels are the top solar products ranked by the BNEF according to the manufacturer. It's always an excellent choice to work with generally known high-quality solar providers but be sure to still do your own check and not depend on the fact that they are Tier 1 panels.
With the growing competition amongst solar manufacturers and providers, it is up to you to find one that will be able to suit your needs, both in terms of quality and cost. If you do not already know, solar energy is one of the best forms of renewable power, so if you are in doubt or unsure of the specific process, why not reach out to a professional solar panel provider to get you solar-powered today!