solar scams awareness

Misinterpretation of the Label – Tier 1 Solar Panels

Bloomberg NEF developed the term Tier 1 to rate solar panels. The fact is, the term is being misunderstood for being a measure of quality. What does it really means?

Even Bloomberg itself says that Tier 1 solar panels list from Bloomberg should not be considered as a measure of quality by the module purchasers and banks as while making a list, they look into the financial stability or bankability of the manufacturer and not into the quality of solar panels.

So what does Tier 1 solar panels list from Bloomberg means? It is the lowest risk list of manufacturers producing panels to filter out the junk being sold as “Best Quality”.

Bloomberg defines a Tier 1 solar manufacturer as “those who have provided products to five different projects which have been financed non-recourse by five different (non-development) banks in the past two years.”

To use Tier 1 term for marketing, insert an Asterix (*) and mention clearly that Tier 1 is not a label for quality.

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If you have been a target of any type of solar scam, kindly report it to the Australian Competition and Consumer Commission (ACCC) via the SCAMwatch website or by calling 1300 795 995.