Sinovoltaics Ranking Reports: Financial Strength PV Manufacturers 1-2024

Sinovoltaics Ranking Reports: Financial Strength PV Manufacturers 1-2024

Tap into the top solar panel manufacturers in the world with the Sinovoltaics Ranking Report Edition #1-2024. Get complimentary access to the rankings of over 70+ PV module manufacturers30+ inverter manufacturers, and 40+ energy storage system manufacturers of the financial strength of these manufacturers.

Gain a comprehensive understanding of the financial stability of solar panel manufacturers with the Altman Z Scores featured in the Sinovoltaics Ranking Report Edition #1-2024. The credit-strength scores, which have been calculated from June 2020 to December 2023, offer a detailed look at the evolution of the manufacturers' financial strength over the past 3 years.



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Download the Sinovoltaics Energy Storage Manufacturer Ranking Report


What is a good Altman Z score?

Our Altman-Z Score calculator understands which manufacturers are financially stable, and which players are at risk of going bankrupt. For any stakeholder involved in solar projects, the financial stability of your project’s solar PV Modules, Inverters, and Energy Storage manufacturer is of crucial importance as employing PV components from financially stable manufacturers provides a better hedge against the potential risks of collapsing return on investment (ROI) of any PV project.

Why is the financial stability of solar panel manufacturers important?

Ultimately, the financial stability of a PV manufacturer is geared toward the validity and enforceability of the warranty policies on their products. Most people realize that today’s Energy Storage and Inverter manufacturers will probably not be around in 25 years. However, for the short to medium term, you want to ensure warranties are in place.

Many PV projects will likely face this tough question in through the years: whom to contact with performance complaints or solar panel efficiency complaints and replacement requests regarding a malfunctioning battery or inverter after 2, 5, or even 10 years?

In these reports, we present you the Altman Z Scores of 40+ energy storage & 30+ solar inverter manufacturers & 70+ PV module manufacturers. These reports can be used to see how one manufacturer matches up to the other and can be an important indicator when selecting your PV module, energy storage, or inverter manufacturer. The Altman Z-Scores show you which manufacturers are financially strong, and which manufacturers are in the risk zone of going bankrupt within the coming 2 years.

What is a good Altman Z score?

Altman z score interpretation: A score below 1.1 is called a Distress Zone, meaning it’s likely the company is headed for bankruptcy, while companies with scores above 2.6 are in the Safety Zone, financially stable, and not likely to go bankrupt.


Note that companies that have been in the Grey Zone for years may be very stable companies!

It’s essential to spot the trend and see where a company is heading.

Did you know?

Sinovoltaics has been publishing its PV Module Manufacturer Ranking Reports based on the Altman Z score formula since early 2016 and is the first and only independent source for PV ModuleInverter, and Energy Storage Manufacturer Ranking Reports based on their financial strength.

Download the PV ModuleInverter, and Energy Storage Ranking Report for free.

About the author
Dricus is Managing Director at Sinovoltaics Group.Sinovoltaics Group assists PV developers, EPCs, utilities, financiers and insurance companies worldwide with the execution of ZERO RISK SOLAR projects - implemented by our multinational team of solar PV-specialized quality engineers and auditors on-site in Asia.Dricus is based in Hong Kong and has been working in the PV industry in China for 10+ years. Connect with Dricus on LinkedIn
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