Bloomberg has released the ‘BloombergNEF Global PV Market Outlook’ report for the first quarter of the year, with half the number of solar module manufacturers making it onto its Tier 1 list.

 The list, which measures the market competitiveness and strength of PV module manufacturers, has decreased from over 40 module factories in the last quarter of 2023 to around 20 in the new year as a result of new, stricter requirements.

Manufacturers who remain on the list include US company Trina Solar, Indian module manufacturer Vikram Solar and Chinese company DMEGC.

Previously, Tier 1 certification was given to module manufacturers that have supplied products for at least six projects, financed by at least six commercial banks with a capacity of more than 1.5 MW. The new criteria requires projects to have a capacity of more than 5 MW.

UK based renewable energy specialist, Sunenergy group, has recommended that buyers do not exclusively use the BloombergNEF list as a benchmark for solar modules “due to the fluctuating requirements”.