Bankability rating reported for Q1 2023
Company News · PV ModuleTech · Q1 2023
Philadelphia Solar Advances to CC+ Bankability Rating in PV ModuleTech Report
The Q1 2023 PV ModuleTech Bankability assessment reported an improved CC+ rating for Philadelphia Solar, reflecting its position at the time in an industry analysis of PV manufacturers.
At a glance
A stronger position in the Q1 2023 assessment
Philadelphia Solar reported that its rating in the PV ModuleTech Bankability report, published by PV Tech, improved to CC+ in the first quarter of 2023. According to the company’s announcement, the rating had moved up two positions since the Q2 2022 edition.
The report evaluates photovoltaic module manufacturers using a combination of industry and business indicators, including shipments, manufacturing capacity, technology and financial standing. The change was presented as a positive reflection of Philadelphia Solar’s operations and financial strategy at the time.
Reporting period of the improved assessment
Improvement reported versus Q2 2022
Brand recognition
Quality and market confidence
The original announcement also cited recognition as a Top Brand PV by EUPD Research for three consecutive years. Philadelphia Solar linked this recognition to its emphasis on advanced solar-module technology, product quality and long-term reliability.
The PV ModuleTech report considers commercial, manufacturing, technology and financial indicators.
The company’s announcement highlighted three consecutive years of Top Brand PV recognition.
Expansion plans announced in 2023
Looking toward the U.S. market
Alongside the bankability news, Philadelphia Solar shared plans for a U.S. subsidiary, Philadelphia Solar USA (PS-USA), as part of its proposed expansion into domestic solar-module manufacturing.
The original announcement described a 1.2 GW mono-PERC module manufacturing line targeted for the fourth quarter of 2024, with an additional plan to invest in solar-cell production in 2025.
Historical context: these were targets stated in the 2023 announcement. This article does not confirm whether the proposed factory, capacity or timelines were subsequently achieved.
Our commitment
Explore products ↗Investing in quality and dependable solar solutions
Explore Philadelphia Solar’s products and technology as the company continues to serve the solar-energy sector.