What does Tier 1 Solar PV Panels mean? What is product and power warranty?
You may have heard of Tier 1 panels when enquiring about Solar PV systems for your building and wondered what does it actually mean? Well, this blog aims to give you a bit of insight of how the term Tier 1 comes about, what it actually means and why it matters to you when deciding which panels to use for your building...
BNEF is Bloomberg's research arm that provides insight, data and news on the latest trends and transformation of the clean energy sector. With so many solar manufacturers market each claiming to be the best, BNEF aims to provide differentiated transparency via thorough analysis of these solar panels and how bankable they are. Thereafter, releasing a tiered list of the best solar panels quarterly.
What are Tier 1 Solar PV Panels?
Tier 1 refers to the top tier of solar manufacturers which fulfil stringent technical requirements and are more bankable compared to others. The list that BNEF has compiled can serve as a guide for consumers who are keen to go solar but are unsure of which brands to consider. Solar manufacturers in the Tier 1 list are reputable and experts in specific verticals, with strong product pipelines and R&D capabilities. There are stark differences even among Tier 1 solar manufacturers. One distinct way that separates them, would be its sales volume, which speaks volumes about the reliability of their solar panels.
What does Bankability of solar panels mean?
Bankability, in simpler terms, refers to how guaranteed it is to bring in a profit. For example, According to BNEF’s 2020 Q1 list, Jinko was labelled as the most bankable solar panel. Tier 1 solar panels have the reputation of delivering performance that translate into results via reliable returns. The reliability of such panels is crucial especially in the case of utility scale solar farms, where investors are most concerned about the rate of a returns of a solar project. Jinko having topped the list, would signify that it has been recognized by industry experts as a brand that gives solid returns as compared to other manufacturers.
Jinko Solar – Tier 1 panel
Jinko has consistently been ranked among the top of the list of the BNEF list. It is impressive that Jinko has managed to remain at the top, backed by strong sales performance even during the peak of the COVID-19 pandemic.
What is Product and Performance Warranty?
Typically, solar panel manufacturers offer a 12-year product warranty and a 25-year performance/power warranty. Does this mean that the panels will only last for 12 or 25 years?
According to Jinko Solar's Limited Warranty Sheet on its Product Warranty, Jinko warrants that the Modules and their respective DC connectors and cables, if any, shall be free from material defects in design, materials and workmanship that affect the performance of the Module ("Limited Product Warranty"). Material defects shall not include normal wear and tear.
As for its Performance Warranty, Jinko Solar warrants that the Degradation Rate shall not exceed the following for the periods identified following the Warranty Start Date ("Limited Power Warranty"): CHEETAH SERIES (b) for Mono Modules: (i) 3.0% in the first year; (ii) 0.7% each year thereafter until that date which is twenty-five (25) years following the Warranty Start Date, at which time the Actual Power Output shall be not less than 80.2% of the Nominal Power Output.
The solar panels have been designed and manufactured to last more than 25 years. As solar cells wear out over the years, generation drops but due to wear and tear but the cells will still generate energy if the system has been properly cared and maintained.
Jinko ensures that their solar panels are all of the best quality, with various quality control and inspection processes. To constantly provide the best panels for their customers, Jinko has a team of over 1500 quality control professionals to aim for "zero" defects for every panel they make.
We hope this helped to clear your queries on Tier 1 Solar panels and the meaning of warranties.
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