#USA #solar energy #San Jose #Boviet Solar #Tier 1

Boviet Solar Maintains Tier 1 Status in 2024

Boviet Solar Technology Co. Ltd., a prominent player in the solar energy sector known for its innovative monocrystalline PV cells and advanced PV modules, has achieved yet another milestone in its journey. As of Q4 2024, the company proudly holds the title of Tier 1 PV module manufacturer according to Bloomberg New Energy Finance (BNEF). This prestigious recognition is not just a one-time accolade; it underpins the company's ongoing commitment to excellence, a standard it has upheld since first achieving this status in 2017.

Understanding the Tier 1 Ranking

The Tier 1 designation by BNEF is a rigorous assessment that evaluates the bankability of solar module manufacturers. To qualify for this level, a manufacturer must supply its branded, self-manufactured products to at least six distinct solar projects. Each project must secure non-recourse financing from six different financial institutions over the past two years, with each project boasting a capacity of at least 5.0 MW.

Boviet Solar’s ability to meet these stringent criteria speaks volumes about its reliability and the trust it has established with partners and stakeholders across the solar industry.

As Scott Chen, VP of Global Sales and Marketing at Boviet Solar, noted, maintaining Tier 1 status is a testament to the trust our partners place in us and our strong product portfolio. He emphasized that this achievement reflects Boviet Solar’s position as a leader in delivering solutions that adhere to the highest standards of reliability and bankability.

Commitment to Innovation and Quality

Sienna Cen, President of Boviet Solar USA, also highlighted that this recognition is more than just an honor; it represents the dedication and innovation that the company’s team brings every day. As the demand for utility-scale and large commercial solar applications continues to grow, Boviet Solar remains steadfast in its commitment to quality and collaborative efforts with its partners.

BNEF’s Tier 1 rating serves as a critical benchmark for solar investors, developers, EPCs (Engineering, Procurement and Construction), and asset owners, guiding critical business decisions such as capital investments and project implementations. This level of transparency and standard promotes healthy competition within the industry while ensuring that project stakeholders can make informed choices.

Recognitions and Rankings

In addition to the Tier 1 status from BNEF, Boviet Solar has made waves this year by being ranked among the top 10 PV module manufacturers by Wood Mackenzie. It also received accolades as one of the top 10 financially stable PV module manufacturers by Sinovoltaics. These recognitions underscore Boviet Solar's exceptional market performance, financial health, and leadership in the global solar industry.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar has quickly risen to prominence due to its specialization in high-performance Monocrystalline PV cells and quality Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules. These products are suitable for a variety of applications, including residential, commercial, industrial, community, and utility-scale projects.

With its blend of business acumen, financial stability, and technological prowess, Boviet Solar is dedicated to manufacturing and delivering top-tier PV modules. Its commitment extends to mutual partnerships, sustainability, compliance with international standards, and ensuring traceability within the supply chain.

As an industry-leader, Boviet Solar is also unyielding in its focus on technological innovation, winning multiple accolades for quality and reliability, including the Kiwa PVEL's PV Module Reliability Scorecard. The company’s global headquarters is in Vietnam, with established manufacturing facilities in both the USA and Vietnam, boasting an impressive annual capacity of 3.0 GW.

For more details on Boviet Solar and its product offerings, you can explore their website at bovietsolar.com.