Tier 1 Solar Panels in Australia
As a consumer, regardless if you are going to use solar panels for commercial or for residential use, it is logical that you want the best bang for your buck. If you purchased solar panels, you may have encountered the use of the term Tier 1. There are a lot of misconceptions about this particular concept. Tier 1 gets thrown around by a great number of companies these days. For consumers, they typically associate Tier 1 solar panels with high quality manufacturing and technology.
Understanding Tier 1 panels
But what does it mean to be classified as Tier 1? In reality, Tier 1 is mainly a ranking scale that has been developed by Bloomberg New Energy Finance to evaluate the bankability and overall financial stability of manufacturers.
This means that a Tier 1 ranking is more an indication of the viability of a company, and how their stability will ensure they last for years to come. Banks usually provide loans to companies that are going to have a good ROI, and would be around for a very long time. Basically, they are ranked according to their ability to handle business, as well as the technologies that they are going to offer to the industry.
How does one get Tier 1 ranking?
According to Bloomberg, due to the trends of outsourcing labour and mass production, there are some companies that undermine quality of their products. This is why they decided to classify manufacturers – so that consumers can know about the overall reliability of the firm that they are transacting with.
Companies that are considered Tier 1 typically invest heavily in research and development, have highly automated manufacturing techniques, and have at least 5 years’ worth of experience in producing solar panels.
Benefits of Tier 1 Ranking?
There are many benefits to having a Tier 1 ranking, especially for homeowners who want to get the most value for money. Renewable energy is still relatively a new industry, and with new players appearing left and right, those that have Tier 1 ranking are far more likely to stay for years to come. Therefore, if you purchase panels from a credible company, it is more than likely that they will still be able to honour the warranty that they gave you.
Whenever you purchase tier 1 solar panels from companies such as LG, this means that you are actually getting products from the cream of the crop. Only 2% of the players in the industry are ranked as a Tier 1 company.
Want to know more about Tier 1 solar panels?
If you’d like to know more about Tier 1 solar panels, or would like to know more about our services, don’t hesitate to get in touch. You can contact us by ringing us on (02) 4302 1908 and speaking to one of our friendly staff.