BISOL Position Statement: BloombergNEF Tier 1 List Not a Measure of PV Module Quality

We would like to inform you of a recent communication from Bloomberg New Energy Finance

(BNEF), published on July 9, 2025, titled “Tier 1 Solar Module Maker Methodology”. In this

publication, BNEF explicitly states that the Tier 1 list must not be used as a measure of PV

module quality, particularly by banks and investors.

“We strongly recommend that module purchasers and banks do not use the list as a measure of

quality, but instead consult a technical due diligence firm such as RINA, ATA Renewables, RETC

LLC, Wood Plc, KIWA PVEL, Black & Veatch, DNV, TUV, E3, STS Certified, Clean Energy Associates,

PI Berlin, Pvbuyer, Enertis, Leidos Engineering, Sinovoltaics, the Austrian Institute of Technology

(AIT) or Phoventus”

(BNEF, Tier 1 Solar Module Maker Methodology, July 2025)

The Tier 1 classification is based solely on bankability, demonstrated by participation in six

non-recourse-financed projects of at least 10 MW each, supported by six different commercial

banks. It does not assess technical quality, reliability, or long-term performance. This is

confirmed in the official report, where BNEF encourages stakeholders to rely on independent

technical due diligence firms. It is intended as an informational tool for tracking modules used

in recently financed projects, not as a substitute for proper due diligence. Therefore, BNEF

clearly expresses that banks and investors must not use the Tier 1 list as a quality measure.

BISOL’s Role is Not a Component Supplier, it is a Complete Manufacturer

As per definition, Tier 1 manufacturers are companies that supply components or materials

directly to OEMs, which then sell under their own brand. BISOL, by contrast, is a fully integrated

Original Equipment Manufacturer (OEM) that designs, manufactures, certifies, warrants, and

sells final PV modules under its own BISOL® name.

BISOL does not sell unbranded components. As such, BISOL takes full responsibility for the

quality, certification, and traceability of its modules.

BISOL is fully Verified, Certified, and Technically Audited

BISOL welcomes this clarification, as it aligns with its long-held position that true quality must

be validated through transparent, technical evaluations, not marketing classifications.

We are proud to confirm that BISOL and its products have undergone independent

assessments by several of the most reputable technical firms mentioned by BNEF,

including TÜV, E3, KIWA PVEL, and AIT. These audits have verified our full material traceability,

manufacturing consistency, mechanical durability and electrical safety, and long-term

performance in real-world conditions.

Every BISOL module is produced under the same rigorous quality standards. Unlike some global

producers, BISOL does not differentiate between product lines or batch quality. All BISOL

modules are premium-grade.

BISOL is a synonym for European Quality and Independence of Market Speculations

BISOL has been manufacturing photovoltaic modules in Europe for over 20 years, exclusively

under its own brand. With 300 to 400 MW of annual production and more than 2 GW of BISOL

modules installed worldwide, it surpasses the bankability thresholds required for BNEF’s Tier 1.

However, as a European manufacturer, BISOL chooses not to compete on artificially subsidized

price levels but rather on long-term value, performance, and reliability. Since 2022, BISOL has

been the largest solar module manufacturer in Europe.

While BISOL does not actively pursue placement on the BNEF Tier 1 list, this is not a reflection

of its quality or market strength. Quite the opposite. BISOL serves many distribution partners

and several hundred clients each year across more than 120 countries, which proves BISOL’s

worldwide bankability.

BISOL is Financially Independent and Profitable

BISOL has been profitable every single year since its founding. It operates without any bank

debt and remains completely financially independent.

For context, while LONGi, one of the largest global manufacturers, reported a net loss of €305

million in the first half of 2025 (a significant improvement from a €622 million loss in the same

period of 2024), BISOL reported a net profit of €12 million in the same period. Similar losses

were reported by other major Chinese manufacturers as well, as reported by pvmagazine in its

Newsletter dated September 5, 2025. This is a clear testament to our operational resilience and

strategic discipline.

Conclusion

Should BISOL be included in the BNEF Tier 1 list? Yes, if evaluated objectively.

Does exclusion from the list reflect on BISOL’s product quality or bankability? Absolutely not.

All BISOL PV modules are independently certified, long-term proven, and trusted by leading

clients who know the true meaning of value. We warmly welcome you to visit our facilities and

see first-hand why BISOL represents excellence in solar technology.