With the rapid growth of the solar PV and energy storage industries, evaluating the financial strength of manufacturers has become essential to ensuring project reliability and long-term investment returns. Sinovoltaics’ 3rd Edition 2025 Ranking Report provides a thorough analysis of the financial health of over 60+ PV module producers, 30+ inverter manufacturers, and 50+ energy storage system companies including suppliers. Using the trusted Altman Z-Score—a leading metric for assessing creditworthiness—the report delivers data-driven insights into the financial performance of these companies over a 34-month span, from September 2022 to June 2025.
Download the Sinovoltaics Solar PV Module Manufacturer Ranking Report
Download the Sinovoltaics Solar Inverter Manufacturer Ranking Report
Download the Sinovoltaics Energy Storage System Manufacturers Ranking Report
What Is the Altman Z Score?
The Altman Z Score formula is a proven financial model used to assess a company's credit strength and risk of bankruptcy. At Sinovoltaics, our Altman Z-Score calculator is specifically tailored to evaluate the financial health of solar PV and energy storage manufacturers. For developers, investors, and EPCs, understanding the fiscal stability of a solar panel manufacturer, solar inverter manufacturer, and BESS manufacturing company is essential. Choosing financially sound partners reduces the risk of supply chain disruption, enhances project reliability, and protects your return on investment—ensuring long-term success for your solar and storage projects.
Why Does Financial Stability Matter for Solar Panel Manufacturers?
The financial strength of a PV manufacturer directly impacts the credibility and longevity of their product warranties. Since many inverter and energy storage suppliers may not stay in business throughout a project’s 25-year lifespan, it's essential to partner with companies that demonstrate solid financial health. Doing so helps ensure that warranties remain valid and enforceable—protecting your investment, especially over the critical short- to mid-term period.
As solar projects mature, a key concern arises: Who will take responsibility for resolving performance issues, declining panel efficiency, or replacing faulty inverters or battery storage systems—whether that’s two, five, or even ten years in the future?
These reports feature Altman Z-Score evaluations for over 50+ energy storage suppliers, 30+ inverter manufacturers, and 60+ PV module producers—offering a valuable benchmarking tool for comparing vendor financial health. They serve as a key resource in the supplier selection process, helping stakeholders identify which companies are financially stable and which may face bankruptcy risks within the next two years.
What is a good Altman Z score?
Altman Z score interpretation: If the outcome of the Altman Z Score formula scores below 1.1, it falls into the Distress Zone, indicating a high likelihood of bankruptcy. Companies with scores above 2.6 are in the Safety Zone, suggesting they are financially stable and not likely to go bankrupt.
Note that companies that have been in the Grey Zone for years may be very stable!
It’s essential to spot the trend and see where a company is heading.
Did You Know?
Since early 2016, Sinovoltaics has been the first independent organization to publish PV Module, Inverter, and Energy Storage Manufacturer Ranking Reports based on financial stability using the Altman Z Score model. Our long-standing use of this proven methodology offers unmatched insight into the fiscal strength of key players in the solar and storage industries.
Download the PV Module, Inverter, and Energy Storage Ranking Reports for free.
Be sure to check out the BESSEntial White Paper—a comprehensive quality assurance framework that combines Factory Acceptance Testing (FAT), Site Acceptance Testing (SAT), and advanced diagnostics to ensure maximum reliability and performance of your energy storage systems.
