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bloomberg tier 1 panels list

Choosing the right manufacturer of photovoltaic panels is one of the most important steps when planning an investment in solar energy. With over a thousand companies active in the market, only a small fraction meet the strict financial and operational reliability standards. In this context, the Tier 1 solar panels list developed by BloombergNEF serves as a valuable tool for investors, helping to distinguish trustworthy manufacturers from less stable entities. Opting for Tier 1 solar panels ensures high product quality, long-term performance, and greater confidence in your solar investment.

What Is the Tier 1 Solar Panels List?

The Tier 1 ranking developed by Bloomberg New Energy Finance (BloombergNEF) classifies solar panel manufacturers based on their ability to participate in non-recourse financing projects supported by commercial banks. This means that a manufacturer is viewed by financial institutions as financially stable enough to back large-scale investments without requiring collateral from the investor.

In practice, this translates to greater trust from the capital markets and lower financing costs for projects involving such manufacturers. The Tier 1 list does not assess the technical quality of products or lab test results – it focuses strictly on financial criteria, such as the scale of operations, track record in completed projects, and level of vertical integration in production.

This ranking is published quarterly and is based on data drawn from a database of over 40,000 photovoltaic projects monitored globally by BloombergNEF.

Quarterly Tier 1 Ranking by BloombergNEF

Below is the latest quarterly summary of the presence of selected manufacturers in the BloombergNEF Tier 1 ranking over the period from 2023 to 2025:

ManufacturerHeadquartersQ4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Offer
Adani / Mundra IN flag Yes Yes Yes Yes Yes Request an offer
AE Solar DE flag Yes Yes Yes Yes Request an offer
Aiko Solar CN flag Yes Yes Request an offer
AKCOME CN flag Yes Request an offer
Anhui Daheng (DAH Solar) CN flag Yes Yes Yes Yes Request an offer
Anhui Huasun CN flag Yes Yes Yes Request an offer
Boviet VN flag Yes Yes Yes Yes Request an offer
BYD CN flag Yes Yes Yes Request an offer
Canadian Solar CA flag Yes Yes Yes Yes Yes Yes Request an offer
Chint / Astronergy CN flag Yes Yes Yes Yes Yes Yes Request an offer
DAS Solar CN flag Yes Yes Yes Yes Yes Request an offer
DAH Solar CN flag Yes Request an offer
DMEGC CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Eging CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
ET Solar Inc / Elite Solar CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Exiom Group ES flag Yes Request an offer
Fellow Energy TR flag Yes Yes Request an offer
First Solar US flag Yes Yes Yes Yes Yes Yes Yes Request an offer
GCL System CN flag Yes Yes Yes Yes Yes Yes Request an offer
Haitai Solar CN flag Yes Yes Yes Request an offer
Hanersun CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Hansol Technics KR flag Yes Yes Request an offer
Hanwha Q-Cells KR flag Yes Yes Yes Yes Yes Yes Request an offer
Horay Solar CN flag Yes Request an offer
HT-SAAE CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Huayao PV CN flag Yes Request an offer
Hyundai KR flag

Yes Request an offer
JA Solar CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Jetion CN flag Yes Yes Yes Yes Yes Request an offer
Jinko Solar CN flag Yes Yes Yes Yes Yes Yes Request an offer
Jinneng / Jinergy CN flag Yes Request an offer
Jolywood CN flag Yes Yes Yes Yes Yes Request an offer
Leapton Energy JP flag Yes Yes Yes Yes Yes Request an offer
LONGi Solar (Longi Green) CN flag Yes Yes Yes Yes Yes Yes Request an offer
Luxen Solar CN flag Yes Yes Yes Yes Yes Request an offer
Maxeon (SunPower) SG flag Yes Yes Yes Yes Request an offer
Neo Solar Power (NSP) / Ureco TW flag Yes Yes Yes Yes Yes Request an offer
New East Solar Energy CN flag Yes Yes Yes Request an offer
OSDA / Austa CN flag Yes Yes Request an offer
Recom FR flag Yes Request an offer
Renesola Yixing CN flag

Yes Yes Yes Yes Yes Yes Yes Request an offer
Renew Photovoltaics IN flag Yes Yes Request an offer
Risen Energy CN flag

Yes Yes Yes Yes Yes Yes Yes Request an offer
Runergy / Hyperion CN flag

Yes Yes Yes Yes Yes Request an offer
SEG Group CN flag

Yes Request an offer
Seraphim / SEG CN flag

Yes Yes Yes Yes Yes Yes Yes Request an offer
Solarspace CN flag

Yes Yes Yes Yes Yes Yes Request an offer
Sumec / Phono Solar CN flag

Yes Yes Yes Yes Yes Yes Request an offer
Sunova Solar / Thornova CN flag

Yes Yes Yes Yes Yes Yes Request an offer
Sunpro Power / YH Sunpro CN flag

Yes Yes Yes Yes Yes Yes Request an offer
Suntech CN flag

Yes Yes Request an offer
Talesun CN flag

Yes Yes Request an offer
Taoistic Solar CN flag

Yes Yes Request an offer
Tongwei CN flag

Yes Yes Yes Yes Yes Yes Yes Request an offer
Trina Solar CN flag

Yes Yes Yes Yes Yes Yes Yes Request an offer
Ulica Solar CN flag

Yes Yes Request an offer
Vikram Solar IN flag

Yes Yes Yes Yes Yes Yes Request an offer
VSUN Solar CN flag Yes Yes Yes Yes Request an offer
Waaree VN flag Yes Yes Yes Yes Yes Request an offer
Yingli Silfab CN flag Yes Yes Yes Yes Yes Yes Request an offer
ZNShine CN flag Yes Yes Yes Yes Yes Yes Yes Request an offer
Manufacturer Adani / Mundra
Headquarters IN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Yes
Manufacturer AE Solar
Headquarters DE flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Manufacturer Aiko Solar
Headquarters CN flag
Q4 2023
Q1 2024 Yes
Q2 2024
Q3 2024
Q4 2024 Yes
Q1 2025
Manufacturer AKCOME
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Manufacturer Anhui Daheng (DAH Solar)
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Manufacturer Anhui Huasun
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Manufacturer Boviet
Headquarters VN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Yes
Manufacturer BYD
Headquarters CN flag
Q4 2023
Q1 2024 Yes
Q2 2024 Yes
Q3 2024
Q4 2024
Q1 2025
Yes
Manufacturer Canadian Solar
Headquarters CA flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Yes
Manufacturer Chint / Astronergy
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Yes
Manufacturer DAS Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer DAH Solar
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer DMEGC
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Eging
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer ET Solar Inc / Elite Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Exiom Group
Headquarters ES flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Manufacturer Fellow Energy
Headquarters TR flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Yes
Manufacturer First Solar
Headquarters US flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer GCL System
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer Haitai Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Yes
Manufacturer Hanersun
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Hansol Technics
Headquarters KR flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer Hanwha Q-Cells
Headquarters KR flag
Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Horay Solar
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer HT-SAAE
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Huayao PV
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer Hyundai
Headquarters KR flag

Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer JA Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Jetion
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Jinko Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Jinneng / Jinergy
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Manufacturer Jolywood
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Leapton Energy
Headquarters JP flag
Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer LONGi Solar (Longi Green)
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Yes
Manufacturer Luxen Solar
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer Maxeon (SunPower)
Headquarters SG flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025
Manufacturer Neo Solar Power (NSP) / Ureco
Headquarters TW flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer New East Solar Energy
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer OSDA / Austa
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Yes
Manufacturer Recom
Headquarters FR flag
Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025
Manufacturer Renesola Yixing
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Renew Photovoltaics
Headquarters IN flag
Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Yes
Manufacturer Risen Energy
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Runergy / Hyperion
Headquarters CN flag

Q4 2023
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer SEG Group
Headquarters CN flag

Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer Seraphim / SEG
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Solarspace
Headquarters CN flag

Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Sumec / Phono Solar
Headquarters CN flag

Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Sunova Solar / Thornova
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer Sunpro Power / YH Sunpro
Headquarters CN flag

Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Suntech
Headquarters CN flag

Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024
Q4 2024
Q1 2025
Manufacturer Talesun
Headquarters CN flag

Q4 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Yes
Manufacturer Taoistic Solar
Headquarters CN flag

Q4 2023
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024
Q1 2025
Manufacturer Tongwei
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Trina Solar
Headquarters CN flag

Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Ulica Solar
Headquarters CN flag

Q4 2023 Yes
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Q1 2025 Yes
Manufacturer Vikram Solar
Headquarters IN flag

Q4 2023
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer VSUN Solar
Headquarters CN flag
Q4 2023
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Manufacturer Waaree
Headquarters VN flag
Q4 2023
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer Yingli Silfab
Headquarters CN flag
Q4 2023 Yes
Q1 2024
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes
Manufacturer ZNShine
Headquarters CN flag
Q4 2023 Yes
Q1 2024 Yes
Q2 2024 Yes
Q3 2024 Yes
Q4 2024 Yes
Q1 2025 Yes
Yes

The table illustrates manufacturers that consistently meet the Tier 1 criteria in recent quarters, confirming their strong market position and ability to maintain the financial standards required by BloombergNEF.

Tier 1 Manufacturers According to BloombergNEF in 2018–2024

Manufacturer2018201920202021202220232024Offer
Adani / Mundra X X X X X X X Request an offer
AE Solar X X X X X X X Request an offer
Aiko Solar X X X X X X X Request an offer
AKCOME X X X X X X X Request an offer
Anhui Daheng (DAH Solar) X X X X X X X Request an offer
Anhui Huasun X X X X X X X Request an offer
Boviet X X X X X X X Request an offer
BYD X X X X X X X Request an offer
Canadian Solar X X X X X X X Request an offer
Chint / Astronergy X X X X X X X Request an offer
DAS Solar X X X X X X X Request an offer
DAH Solar X X X X X X X Request an offer
DMEGC X X X X X X X Request an offer
Eging X X X X X X X Request an offer
ET Solar Inc / Elite Solar X X X X X X X Request an offer
Exiom Group X X X X X X X Request an offer
First Solar X X X X X X X Request an offer
GCL System X X X X X X X Request an offer
Haitai Solar X X X X X X X Request an offer
Hanersun X X X X X X X Request an offer
Hansol Technics X X X X X X X Request an offer
Hanwha Q-Cells X X X X X X X Request an offer
Heliene X X X X X X X Request an offer
Horay Solar X X X X X X X Request an offer
HT-SAAE X X X X X X X Request an offer
Hyundai X X X X X X X Request an offer
JA Solar X X X X X X X Request an offer
Jetion X X X X X X X Request an offer
Jinko X X X X X X X Request an offer
Jinneng / Jinergy X X X X X X X Request an offer
Jolywood X X X X X X X Request an offer
Leapton Energy X X X X X X X Request an offer
LG Solar X X X X X X X Request an offer
LONGi Solar (Longi Green) X X X X X X X Request an offer
Luxen Solar X X X X X X X Request an offer
Maxeon (SunPower) X X X X X X X Request an offer
Neo Solar Power (NSP) / Ureco X X X X X X X Request an offer
New East Solar Energy X X X X X X X Request an offer
Philadelphia Solar X X X X X X X Request an offer
REC Group X X X X X X X Request an offer
Recom X X X X X X X Request an offer
Renesola Yixing X X X X X X X Request an offer
Renew Photovoltaics X X X X X X X Request an offer
Risen Energy X X X X X X X Request an offer
Runergy / Hyperion X X X X X X X Request an offer
SEG Group X X X X X X X Request an offer
Seraphim / SEG X X X X X X X Request an offer
Solarspace X X X X X X X Request an offer
Sumec / Phono Solar X X X X X X X Request an offer
Sunova Solar / Thornova X X X X X X X Request an offer
Sunpro Power / YH Sunpro X X X X X X X Request an offer
Suntech X X X X X X X Request an offer
Talesun X X X X X X X Request an offer
Taoistic Solar X X X X X X X Request an offer
Tongwei X X X X X X X Request an offer
Trina Solar X X X X X X X Request an offer
Ulica Solar X X X X X X X Request an offer
Vikram Solar X X X X X X X Request an offer
VSUN Solar X X X X X X X Request an offer
Waaree X X X X X X X Request an offer
Yingli Silfab X X X X X X X Request an offer
ZNShine X X X X X X X Request an offer
Manufacturer Adani / Mundra
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer AE Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Aiko Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer AKCOME
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Anhui Daheng (DAH Solar)
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Anhui Huasun
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Boviet
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer BYD
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Canadian Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Chint / Astronergy
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer DAS Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer DAH Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer DMEGC
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Eging
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer ET Solar Inc / Elite Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Exiom Group
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer First Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer GCL System
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Haitai Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Hanersun
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Hansol Technics
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Hanwha Q-Cells
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Heliene
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Horay Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer HT-SAAE
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Hyundai
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer JA Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Jetion
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Jinko
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Jinneng / Jinergy
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Jolywood
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Leapton Energy
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer LG Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer LONGi Solar (Longi Green)
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Luxen Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Maxeon (SunPower)
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Neo Solar Power (NSP) / Ureco
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer New East Solar Energy
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Philadelphia Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer REC Group
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Recom
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Renesola Yixing
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Renew Photovoltaics
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Risen Energy
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Runergy / Hyperion
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer SEG Group
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Seraphim / SEG
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Solarspace
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Sumec / Phono Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Sunova Solar / Thornova
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Sunpro Power / YH Sunpro
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Suntech
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Talesun
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Taoistic Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Tongwei
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Trina Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Ulica Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Vikram Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer VSUN Solar
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Waaree
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer Yingli Silfab
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X
Manufacturer ZNShine
2018 X
2019 X
2020 X
2021 X
2022 X
2023 X
2024 X

Tier 1 Q2 2025

In 2Q 2025, the ranking of Tier 1 photovoltaic panel manufacturers confirms the dominance of Chinese companies, which possess the highest production capacities in the world. Longi and Jinko Solar topped the list, each with an annual production capacity of 120,000 MW. They were followed by JA Solar and Trina Solar, each with a capacity of 100,000 MW, as well as TW Solar (Tongwei) with 85,000 MW.

Canadian Solar also maintains a strong position on the list with 61,000 MW, Astronergy (Chint) with 56,000 MW, and Risen Energy with a production level of 48,000 MW. Smaller but rapidly growing companies are also playing an increasingly important role, such as DAS Solar, producing 31,000 MW, and DMEGC, with a capacity of 21,000 MW.

Among non-Chinese manufacturers, the American First Solar stands out with 15,200 MW, as well as the Indian Waaree, which reaches 12,000 MW, although their production scale remains significantly smaller. The Tier 1 ranking for 2Q 2025 clearly illustrates the concentration of production potential in China and highlights the global competition in the photovoltaic panel segment.

ManufacturerAnnual production capacity(MW/year)
Longi 120 000
Jinko Solar 120 000
JA Solar 100 000
Trina 100 000
Tongwei 85 000
Canadian Solar 61 000
Chint/Astronergy 56 000
Risen Energy 48 000
DAS Solar 31 000
DMEGC (Hengdian Magnetics) 21 000
Yingli 19 200
First Solar 15 200
Seraphim 13 000
Talesun 13 000
Waaree 12 000
Hanwha Qcells 11 200
ZNShine 10 000
Jolywood 10 000
Eging 10 000
Solarspace 10 000
Osda Solar 6560
Renew Photovoltaics 6400
HT-SAAE 5000
Renesola 5000
Hanersun 5000
Sumec/Phono Solar 4000
Adani/Mundra 4000
BYD 4000
Vikram Solar 3500
Fellow Energy 3000
ET Solar Inc/Elite Solar 3000
YH Sunpro Power 3000
Boviet Solar 3000
Total: 1 022 860
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Longi
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jinko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> JA Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Trina
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Tongwei
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 85 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Canadian Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 61 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Chint/Astronergy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 56 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Risen Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 48 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DAS Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 31 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DMEGC (Hengdian Magnetics)
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 21 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Yingli
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 19 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> First Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 15 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Seraphim
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 13 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Talesun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 13 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Waaree
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanwha Qcells
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 11 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ZNShine
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jolywood
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Eging
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Solarspace
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Osda Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6560
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renew Photovoltaics
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> HT-SAAE
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renesola
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanersun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sumec/Phono Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Adani/Mundra
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> BYD
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Vikram Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Fellow Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ET Solar Inc/Elite Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> YH Sunpro Power
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Boviet Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Total:
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1 022 860

Tier 1 Q1 2025

In Q1 2025, BloombergNEF released an updated Tier 1 list of photovoltaic module manufacturers, offering a comprehensive snapshot of the leading global solar brands at that time. The list reflected companies recognized for their bankability, large-scale operations, and consistent product quality across international markets.

At the top of the Q1 2025 ranking stood Jinko Solar, which maintained its position as the industry’s largest manufacturer, with an annual production capacity of 120,000 MW. Following closely were Trina Solar and JA Solar, each reaching 100,000 MW per year, underscoring their technological leadership and market strength. These three companies played a pivotal role in the continued growth and stability of the global solar sector during that period.

The full Q1 2025 Tier 1 list included 48 manufacturers, with a combined production capacity of 942,700 MW per year. This figure highlighted the scale and resilience of the PV module industry as it responded to the increasing global demand for clean and sustainable energy solutions.

ManufacturerAnnual production capacity(MW/year)
Jinko Solar 120 000
JA Solar 100 000
Trina 100 000
Tongwei 85 000
Canadian Solar 61 000
Hanwha Qcells 61 000
Chint/Astronergy 56 000
Risen Energy 48 000
DAS Solar 31 000
GCL System 27 000
Huayao PV 20 000
Anhui Huasun 20 000
Aiko Solar 20 000
Yingli 19 200
First Solar 15 200
DMEGC (Hengdian Magnetics) 14 000
Seraphim 13 000
Talesun 13 000
Waaree 12 000
ZNShine 10 000
Jolywood 10 000
Eging 10 000
Sunova Solar/Thornova 6500
Renew Photovoltaics 6400
Solarspace 6000
Osda Solar 5650
HT-SAAE 5000
Renesola 5000
Hanersun 5000
Anhui Daheng (DAH Solar) 5000
VSUN 4000
Sumec/Phono Solar 4000
Adani/Mundra 4000
New East Solar 3600
ET Solar Inc/Elite Solar 3500
Vikram Solar 3500
AESolar 3200
Leapton Energy 3000
Luxen Solar 3000
Suzhou Sunlink 3000
SEG Solar 3000
Fellow Energy 3000
Sunpro Power/YH Solar 3000
Jetion 2500
Horay Solar 2500
Ulica 2000
Neo Solar Power/URECO 1800
Hyundai 1400
Hansol Technics 600
Total: 942 700
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jinko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> JA Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Trina
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Tongwei
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 85 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Canadian Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 61 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanwha Qcells
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 61 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Chint/Astronergy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 56 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Risen Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 48 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DAS Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 31 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> GCL System
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 27 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Huayao PV
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Huasun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Aiko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Yingli
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 19 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> First Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 15 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DMEGC (Hengdian Magnetics)
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 14 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Seraphim
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 13 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Talesun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 13 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Waaree
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ZNShine
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jolywood
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Eging
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunova Solar/Thornova
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renew Photovoltaics
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Solarspace
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Osda Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5650
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> HT-SAAE
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renesola
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanersun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Daheng (DAH Solar)
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> VSUN
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sumec/Phono Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Adani/Mundra
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> New East Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3600
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ET Solar Inc/Elite Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Vikram Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> AESolar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Leapton Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Luxen Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Suzhou Sunlink
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> SEG Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Fellow Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunpro Power/YH Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jetion
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 2500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Horay Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 2500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Ulica
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 2000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Neo Solar Power/URECO
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1800
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hyundai
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hansol Technics
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 600
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Total:
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 942 700

Tier 1 Q4 2024

The Tier 1 Solar Panels List below, based on the BNEF Tier 1 list for Q4 2024, showcases the leading photovoltaic (PV) panel manufacturers. It features globally recognized brands known for their scale, reliability, and innovation in solar technology. At the top of the industry is LONGi Green, with a remarkable annual module production capacity of 120,000 MWp, establishing itself as the global leader in PV manufacturing. Matching this capacity is Jinko Solar, which also produces 120,000 MWp annually, reflecting its cutting-edge technology and worldwide presence.

JA Solar and Trina Solar follow closely behind, each with 100,000 MWp, maintaining strong positions among utility-scale and commercial project developers. Tongwei and Canadian Solar are not far behind, with 85,000 MWp and 61,000 MWp respectively, showcasing their consistent growth and contribution to the solar market.

From high-capacity manufacturers to emerging players, this Tier 1 Solar Panels ranking provides a complete snapshot of the top manufacturers based on annual output. It reflects the industry’s direction toward greater efficiency, scale, and global deployment.

Here is the complete list of Tier 1 PV module manufacturers for Q4 2024:

ManufacturerAnnual production capacity(MW/year)
Longi Green 120 000
Jinko Solar 120 000
JA Solar 100 000
Trina 100 000
Tongwei 85 000
Canadian Solar 61 000
Chint/Astronergy 56 000
Risen Energy 48 000
DAS Solar 31 000
GCL System 27 000
Aiko Solar 25 500
Runergy/Hyperion 21 000
TCL TZE & Maxeon 20 400
Anhui Huasun 20 000
DMEGC (Hengdian Magnetics) 17 000
First Solar 15 200
Seraphim 13 000
Yingli 12 300
Waaree 12 000
ZNShine 10 000
Jolywood 10 000
Eging 10 000
Hanwha Qcells 9100
Renew Photovoltaics 6400
Solarspace 6000
Osda Solar 5650
Sunova Solar/Thornova 5500
HT-SAAE 5000
Renesola 5000
Hanersun 5000
Anhui Daheng (DAH Solar) 5000
Sumec/Phono Solar 4000
Sunova Solar/Eurener 4000
Vikram Solar 3500
ET Solar Inc/Elite Solar 3500
VSUN 3200
Boviet Solar 3000
Leapton Energy 3000
Luxen Solar 3000
Jetion 2500
Sunpro Power/YH Solar 2000
Neo Solar Power/URECO 1800
New East Solar 1600
Total: 1 343 450
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Longi Green
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jinko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> JA Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Trina
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 100 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Tongwei
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 85 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Canadian Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 61 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Chint/Astronergy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 56 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Risen Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 48 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DAS Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 31 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> GCL System
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 27 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Aiko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 25 500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Runergy/Hyperion
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 21 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> TCL TZE & Maxeon
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Huasun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DMEGC (Hengdian Magnetics)
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 17 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> First Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 15 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Seraphim
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 13 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Yingli
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 300
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Waaree
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ZNShine
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jolywood
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Eging
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanwha Qcells
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 9100
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renew Photovoltaics
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Solarspace
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 6000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Osda Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5650
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunova Solar/Thornova
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> HT-SAAE
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renesola
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanersun
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Daheng (DAH Solar)
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sumec/Phono Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunova Solar/Eurener
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Vikram Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ET Solar Inc/Elite Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> VSUN
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Boviet Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Leapton Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Luxen Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jetion
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 2500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunpro Power/YH Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 2000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Neo Solar Power/URECO
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1800
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> New East Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1600
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Total:
<strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong> 1 343 450

Ranking Tier 1 3Q 2024

BloombergNEF has released the Tier 1 3Q 2024 ranking, classifying photovoltaic (PV) panel manufacturers based on their credibility for financing by commercial banks. Companies included in this list supply projects with non-recourse financing, confirming their operational stability and high-quality products.

The latest Bloomberg Tier 1 3Q 2024 report highlights significant developments across the photovoltaic (PV) market, addressing both growth and challenges for producers. The report delves into global PV module production and installation forecasts, the polysilicon market, industry consolidation and regional differences in market expansion.

Tier 1 Q3 2024

The list features many well-known global brands, including three manufacturers with the highest annual production capacities. Longi Green stands out with an impressive annual production of 120,000 MW, making it the largest player in the PV market. Right behind Longi is Jinko Solar, with an annual production of 110,000 MW, highlighting its significant market share and advanced solar panel technology. Trina Solar ranks third, with a production capacity of 95,000 MW per year.

Here’s the complete list of PV panel manufacturers featured in the Tier 1 ranking for 3Q 2024:

ManufacturerAnnual production capacity(MW/year)
Longi Green 120 000
Jinko Solar 110 000
JA Solar 95 000
Trina 95 000
Tongwei 75 000
Chint/Astronergy 56 000
Canadian Solar 51 000
Risen Energy 48 000
DAS Solar 31 000
GCL System 27 000
Aiko Solar 25 500
Taoistic Solar 25 000
Runergy/Hyperion 21 000
Anhui Huasun 20 000
Yingli 19 200
First Solar 14 400
DMEGC (Hengdian Magnetics) 12 000
Waaree 12 000
Maxeon 10 100
ZNShine 10 000
Jolywood 10 000
Eging 10 000
Hanwha Qcells 9100
Renew Photovoltaics 6400
Solarspace 6000
Osda Solar 5650
Sunova Solar/Thornova 5500
HT-SAAE 5000
Renesola 5000
Hanersun 5000
Anhui Daheng (DAH Solar) 5000
Sumec/Phono Solar 4000
Adani/Mundra 4000
VSUN 4000
ET Solar Inc/Elite Solar 3500
Vikram Solar 3500
Boviet Solar 3000
Leapton Energy 3000
Luxen Solar 3000
Jetion 2500
AE Solar 2000
Sunpro Power/YH Solar 2000
Neo Solar Power/URECO 1800
New East Solar 1600
Total: 1 000 750
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Longi Green
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 120 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jinko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 110 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> JA Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 95 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Trina
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 95 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Tongwei
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 75 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Chint/Astronergy
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 56 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Canadian Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 51 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Risen Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 48 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DAS Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 31 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> GCL System
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 27 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Aiko Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 25 500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Taoistic Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 25 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Runergy/Hyperion
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 21 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Huasun
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 20 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Yingli
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 19 200
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> First Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 14 400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> DMEGC (Hengdian Magnetics)
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Waaree
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 12 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Maxeon
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 100
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ZNShine
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jolywood
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Eging
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 10 000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanwha Qcells
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 9100
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renew Photovoltaics
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 6400
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Solarspace
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 6000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Osda Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5650
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunova Solar/Thornova
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> HT-SAAE
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Renesola
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Hanersun
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Anhui Daheng (DAH Solar)
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 5000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sumec/Phono Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Adani/Mundra
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> VSUN
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 4000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> ET Solar Inc/Elite Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Vikram Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 3500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Boviet Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Leapton Energy
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Luxen Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 3000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Jetion
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 2500
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> AE Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 2000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Sunpro Power/YH Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 2000
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Neo Solar Power/URECO
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 1800
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> New East Solar
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 1600
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Manufacturer</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> Total:
<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Annual production capacity(MW/year)</strong></strong></strong></strong></strong></strong></strong></strong></strong></strong> 1 000 750

The Tier 1 3Q 2024 ranking includes producers offered by 7SUN: Jinko Solar, Jolywood, Longi Green, JA Solar, Q-cells, Trina Solar, ZNShine and Canadian Solar.

Tier 1 criteria

To qualify for the Tier 1 ranking, PV panel manufacturers undergo evaluation based on rigorous criteria, which include:

Financial Credibility

Financial reliability is a key component of the Tier 1 ranking, demonstrating the market’s trust in PV panel producers. This criterion examines various indicators, such as profitability, debt management capabilities, and the company’s credit history. A primary requirement is also non-recourse financing by six different banks, reflecting financial stability and institutional trust. The producer must also be publicly traded.

Production Scale

Manufacturers must supply their products to at least six different projects of over 10 MW (earlier 5 MW) capacity within the past two years, underscoring the companies’ experience and operational capabilities in executing large projects. Additionally, the ranking includes only those manufacturers that have been in the market for over five years.

New Bloomberg Tier 1 Manufacturers

Several new companies have appeared on the Tier 1 list, rapidly expanding their production capacities and technological advancements in the PV sector. Among these new entrants are Aiko Solar, DAS Solar, Renew Photovoltaics, Boviet Solar and New East Solar. Their presence in the prestigious Tier 1 ranking confirms their growing role in the global PV panel supply chain, offering financial stability and advanced technologies that support large-scale solar energy projects.

Companies Excluded from Tier 1

BYD was excluded from the Tier 1 ranking as it did not meet the six-bank financial solvency criterion. In addition, companies with significant financial obligations, such as Suntech and Akcome, were excluded despite meeting the six-bank criterion due to financial liabilities. In July 2024, Akcome entered bankruptcy restructuring by court order.

Tier 1 Ranking and PV Industry Innovations

It’s worth noting that many companies on the Tier 1 list are those actively developing new technologies, such as higher-efficiency and more productive panels. These companies play a key role in driving the global energy transition towards renewable energy sources.

The Tier 1 ranking is a critical indicator of market trust and quality among PV panel manufacturers. For investors and developers, selecting a manufacturer from this list ensures product quality and access to items recognized by financial institutions worldwide.

Rising PV module production and producer challenges

Global production of photovoltaic modules is expected to reach 12 TW in 2024, marking a substantial increase from previous years. However, global installations are forecasted at only 592 GW, reflecting a 33% increase compared to 2023. This excess supply is driving module prices to their lowest recorded level of $0.0096/W.

BloombergNEF 3Q 2024 Global PV Market Outlook

Source: BloombergNEF 3Q 2024 Global PV Market Outlook

Polysilicon under cost pressure

Polysilicon, a critical material for PV cell production, plays a key role in market dynamics. Prices dropped to $49/kg in 2024, below production costs for many manufacturers, leading some producers to reduce capacities or cease operations altogether. China, the largest producer, reported a 61% increase in polysilicon production during the first half of 2024, highlighting the industry’s ongoing supply surplus.

Regional market variations

The report details significant changes in the PV market across different regions:

  • China remains the largest global producer and installer, with installations projected to rise from 260,235 MW in 2023 to 308,580 MW in 2024, marking a 19% increase.
  • India is experiencing rapid growth, with installed capacity expected to nearly double from 13,537 MW in 2023 to 26,780 MW in 2024, representing a 98% increase.
  • Pakistan stands out with a remarkable 322% increase, moving from 2,960 MW in 2023 to 12,500 MW in 2024, illustrating South Asia’s growing role in the PV industry.
  • Uzbekistan is set to see the largest percentage growth of 765%, increasing from 410 MW in 2023 to 3,510 MW in 2024.
  • Saudi Arabia is also seeing significant growth, with capacity rising from 1,962 MW in 2023 to 3,315 MW in 2024, an increase of 69%.
  • Nigeria, like other emerging markets, is experiencing rapid growth of 104%, from 775 MW in 2023 to 1,583 MW in 2024. This shows that African markets are also starting to play a significant role in global renewable energy production.
BloombergNEF 3Q 2024 Global PV Market Outlook

Source: BloombergNEF 3Q 2024 Global PV Market Outlook

Not all countries are seeing growth. Japan and Poland are experiencing declines in installed capacity by 16% and 24%, respectively. In Japan, installed capacity dropped from 5,017 MW in 2023 to a projected 4,205 MW in 2024. In Poland, capacity decreased from 4,782 MW in 2023 to 3,650 MW in 2024, possibly indicating market saturation. Countries like Australia, Turkey, South Korea, Taiwan, Chile and South Africa are also seeing declines.

Industry consolidation as a response to financial pressures

In light of financial difficulties and price pressures, the Bloomberg Tier 1 Q3 2024 report predicts possible industry consolidation in the PV sector. Mergers and acquisitions may become necessary for survival in challenging market conditions, where product prices fall below production costs. A notable example is the proposed acquisition of Runergy by Tongwei, which could mark the beginning of a wave of mergers.

TOPCon – the future of PV technology

One of the main technological trends in the PV industry is the introduction of advanced solutions such as TOPCon technology, which improves the efficiency of photovoltaic cells by reducing energy losses and increasing module efficiency. Traditional PERC modules reached a price of $0.0096/W, while modern modules based on TOPCon technology cost around $0.0103/W. The Bloomberg Tier 1 Q3 2024 report indicates that TOPCon technology may significantly lower production costs and improve energy efficiency, which will be key in the context of global price competition.

Forecasts for 2024

Despite financial challenges, global PV module production and installations are set to grow in 2024. Forecasts estimate installations to range between 550 and 620 GW globally, marking another record year for the industry. However, overproduction and low profit margins may lead to further financial difficulties for many companies.

Outlook for the PV Industry

The Bloomberg Tier 1 Q3 2024 report clearly shows that the photovoltaic industry faces many challenges, but also opportunities. Key to success will be adapting to price pressures and the introduction of new technologies, such as TOPCon, which have the potential to revolutionize the market.