Bloomberg New Energy Finance (BNEF) recently released its Solar Module & Inverter Bankability 2019 report. For the first time, the company made investigations into solar inverters, surveying the bankability of several inverter brands.
‘Bankability’ means banks are more willing to offer non-recourse loans to photovoltaic power generation projects that opt to use a particular inverter brand.
Solis’ inverters ranked third for Asian brands: a testament to the brand’s products being well-recognised by global technical experts and respondents. This incredible result also means project developers are more likely to receive bank financing if they use Solis’ products over those of other brands.
With a team of experts spread across six continents, BNEF analyses complex data from around the globe to procure in-depth forecasts which highlight the financial, economic and political implications of industry-transforming trends and technologies.
For this survey, BNEF sought information from banks, developers and technical due diligence firms about which brands, out of 48 module manufacturers and 17 inverter manufacturers, they considered to be bankable.
The complexity of inverters means that local support is an essential factor to consider when assessing bankability, and compared to modules’ c.25-year warranties, inverter warranties are only between five and 10 years. The shorter warranty generally means an inverter will require replacement of parts and maintenance throughout its lifetime.
Some Chinese inverter brands are considered bankable only by Chinese respondents. In contrast, European companies are considered bankable by the majority of respondents, although some Chinese respondents had never heard of them.
Interestingly, regional differences are far starker when considering the bankability of inverters compared to modules. Unlike panels, inverters are less of a commodity as modules have only one function — producing energy — while inverters have multiple purposes. Aside from converting direct current into alternating current, inverters interact directly with the grid and aggregate power output data. As such, there are different types of inverters for different project requirements (for example, some projects require central inverters while string inverters are more suitable for others).
About Ginlong Technologies
Established in 2005, Ginlong (Solis) Technologies is one of the oldest and largest manufacturers of PV string inverters. Presented under the Solis brand, the company’s portfolio uses innovative string inverter technology to deliver first-class reliability that has been validated under the most stringent international certifications. Armed with a global supply chain, world-class R&D and manufacturing capabilities, Ginlong optimises its inverters for each regional market, servicing and supporting its customers with its team of local experts.
For more information on how Solis delivers value while maximising reliability and cost-saving for residential, commercial, and utility customers, visit ginlong.com or contact your SegenSolar account manager.