Bankability in the residential photovoltaic industry:

Author: Paul Heidesch – sales director of TV channels in the USA, Trina Solar

The residential solar sector is no stranger to disruption, once again fraught with new questions and uncertainty around tariff announcements and changes to state net metering programs.

While installers navigate choppy waters, several indicators point to smoother sailing in the residential solar market. With interest rates expected to fall and more projects eligible for Investment Tax Credit (ITC), the additions should help the residential segment bounce back and maintain steady growth over the next few years.

On the consumer side, a recent study revealed extremely promising insights into homeowners’ overall satisfaction with the move to solar, their thoughts on module upgrades, and their likelihood of recommending a solar installation to friends and family.

Let’s take a look at these findings and explore why module acceptability will be the new secret weapon for installers selling solar to repeat customers and more savvy consumers.

Selling solar energy to Savvier’s regular customers and consumers

Solar panels are designed to withstand the elements for decades and are also backed by long-term product and performance warranties. However, for some installers, the durability of the module may seem to be a double-edged sword: on the one hand, it is a major advantage for homeowners. On the other hand, this benefit may limit repeat customers over the life of the system, at least 20 to 25 years.

This may have once been the case, but new research paints a different picture. A recent Forbes Home survey of households with solar systems found that almost 90% were satisfied with their choice, with 67% considering expanding their existing systems and 65% considering upgrading to newer or more efficient modules. Based on their satisfactory experiences, over 82% of current solar system owners would recommend installing solar panels.

As the survey results show, consumer demand remains solid and should continue to grow. However, solar panels are no longer a strange novelty for environmentally conscious consumers. The development of smart homes with fully connected electronic features across lighting, thermostats, appliances, security systems, electric vehicles (EVs), etc. has provided homeowners with a more detailed view of their entire energy ecosystem.

These insights have made solar customers much smarter than they were ten or even five years ago, especially among households with existing solar systems. Many people have become familiar with local net metering programs, federal tax incentives and module warranties, and have become more familiar with power supplies, efficiency levels and component balance of system (BOS).

With two-thirds of respondents considering expanding existing solar systems or upgrading modules, combined with more savvy homeowners and consumers, it is clear that homeowners will want high-quality and durable modules with higher efficiency and the assurance that the modules will stand the test of time.

So now, more than ever, creditworthiness has become a key differentiator for both installers and homeowners with existing solar systems or considering one.

Solar panels made in the USA from a highly bankable brand

So what does bankability mean for solar panels?

While the term “bankability” is typically used in the utility-scale solar sector, it is becoming a much more critical aspect of the residential solar market, especially for existing solar system owners and more experienced customers. At its core, bankability means market confidence in a company based on solid finances, technology development plans, certificates, technical assessments, module quality and reliability, production factory audits, product support and installations.

If financiers are willing to invest in this technology because data shows the quality and long-term durability of the PV module and the credibility of the manufacturer, then it makes sense that customers and end users should share this confidence. The same principle applies to customers recommending solar energy. When current solar system owners recommend an installation, they need assurance that they are suggesting to family or friends that they invest in the most reliable modules backed by a bankable manufacturer.

This is what makes Trina Solar stand out. Now installers can offer existing solar system owners and more experienced potential customers panels with higher efficiency and long-term peace of mind. Trina Solar’s compact 435W Vertex S+ module uses advanced next-generation 210Rmm n-type TOPCon technology, with a maximum efficiency of 22%, degradation of only 1% in the first year and an annual degradation rate of 0.4%. TOPCon’s advanced technology means installers need fewer Vertex S+ panels than PERC cell panels to achieve similar power output.

Not only does this translate into BOS savings and greater customer value, but it’s all backed by one of the most bankable brands in the solar industry.

The company is bringing its highly bankable module manufacturing processes to the United States with a more than 1 million square foot solar facility in Wilmer, Texas. Scheduled for completion in 2024, this state-of-the-art complex will have a capacity of 5 GW, support 1,500 local jobs and will soon deliver 100% American-made TOPCon and PERC n-type solar modules.

Contact Trina Solar US to learn more about solar bankability

Content sponsored by Trina Solar