WOOD MACKENZIE RANKS BOVIET SOLAR AS TOP 12 OF H1 2024 GLOBAL PV MODULE MANUFACTURER
San Jose, California, USA, January 16 Thursday, 2024— Boviet Solar Technology Co. Ltd. (the “Company” or “Boviet Solar”), a solar energy technology company specializing in manufacturing monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, announced today that it has been ranked as a Top 12 PV Module Manufacturer by Wood Mackenzie (WoodMac). Wood Mackenzie evaluated more than 30 different global PV Module manufacturers for its ranking.
Wood Mackenzie is a global provider of data, analytics, insights, events, and consultancy services for the energy, renewables, and natural resources sectors. The company’s mission is to provide businesses and governments with reliable and actionable insight and advice to lead the transition to a sustainable future.
Wood Mackenzie has developed PV module manufacturer ranking criteria based on several factors to create a transparent and fair ranking of the hundreds of PV module manufacturers on the market. Main factors affecting the rankings include:
- Module manufacturing experience
- Manufacturing capacity growth rate
- Vertical integration
- Shipment volume
- Technology maturity of the main product
- Research and development.
- Financial stability of the company
- Adherence to environmental, social, governance (ESG), and CSR standards
- Availability of third-party certifications for the main tests of the main products
Solar PV projects can be costly and risky investments for buyers and financiers. Financial institutions are willing to finance a project with client-selected components if they can be confident about the quality and durability of the solar module and the sound financial stability of the manufacturer. Being ranked as a Top 12 PV Module Manufacturer is an important indicator of Boviet Solar’s reliability as a long-term industry partner with top-performing PV modules that clients and financial institutions can trust.
“It’s a great honor to be included in Wood Mackenzie’s rankings of leading solar suppliers,” said Scott Chen, VP Global Sales, and Marketing. “Over the years, we have faced many challenges in the ever-changing market landscape and are proud to have achieved more than a decade of industry success. We are confident that our strong R&D focus, continued ESG implementation, and other initiatives will allow us to sustain our business growth and maintain our bankability while we work to fulfill and exceed the needs of our clients as we work together to scale solar globally.”
“We are pleased to be recognized in Wood Mackenzie’s respected rankings,” said Sienna Cen, President of Boviet Solar USA. “This news follows our exciting recent announcement of our first production facility in North America in Greenville, North Carolina, where we are expected to output 2 GW of solar panels and 2 GW of PV cells annually. The new facility will enable us to continue to innovate with our technology and expand our manufacturing capacity as we ship more of our high-quality products to serve our clients.”
ABOUT BOVIET SOLAR
Boviet Solar is a leading solar technology company founded in 2013 in Vietnam, specializing in the manufacturing of high-performance Monocrystalline PV cells and high-quality Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules for residential, commercial, industrial, community and utility-scale solar applications. Boviet Solar combines business acumen, financial stability, technological expertise, and manufacturing excellence to produce top-performing PV modules, while fostering mutual partnerships, ensuring sustainability, supply chain traceability, and compliance with international trade standards.
Boviet Solar has earned a reputation for excellence, holding a Bloomberg New Energy Finance (BNEF) Tier 1 ranking, being recognized as one of the top 10 most reliable PV module manufacturers by Wood Mackenzie and Sinovoltaics, and consistently rated as a Top Performer in Kiwa PVEL’s PV Module Reliability Scorecard, with successful manufacturing assessments conducted by Black & Veatch. Boviet Solar’s global headquarters is in Vietnam, with manufacturing facilities in both the USA and Vietnam, featuring an annual PV cell and PV module capacity of 3.0 GW, along with additional operations in the USA, Germany, and other regional markets. For more information about our company and products, please visit www.bovietsolar.com
MEDIA INQUIRES:
Songül Atacan
Director of Global Marketing
Boviet Solar
songul.atacan@bovietsolar.com