Tier 1 Solar Panel Manufacturers List – Q4 2025
BloombergNEF (BNEF) has published the Tier 1 list of photovoltaic module manufacturers for the fourth quarter of 2025 (Q4 2025). This classification identifies manufacturers that meet the strict bankability criteria required by BNEF, used as a reference by financial institutions, developers and EPCs internationally.
In this article, we present the official BNEF Tier 1 list Q4 2025, sorted by annual production capacity (MW/year), with the aim of making it easier to compare manufacturers from an industrial and supply standpoint.
What does it mean to be a Tier 1 manufacturer?
Being a Tier 1 manufacturer according to Bloomberg New Energy Finance (BNEF) does not mean the panel is the best on the market technically, but that the manufacturer is considered bankable. That is, it has demonstrated to financial institutions its ability to reliably supply modules for large-scale solar projects.
To obtain this category, the manufacturer must have supplied modules to at least six projects above 10 MW, financed by independent commercial banks, within a recent period (typically the last two years). This requirement confirms that the company has sufficient financial strength, technical reputation and corporate stability to undertake large-scale projects.
It is important to note that BNEF does not rank or order Tier 1 manufacturers, but only certifies whether or not they meet these criteria. Any additional ordering, such as by production capacity, is for informational purposes and is not part of the official list.
Adjustments to the classification criteria
During 2025, BloombergNEF increased the level of requirements to access the Tier 1 list. Previously, projects of at least 5 MW were considered, whereas the minimum threshold has now been set at 10 MW.
With this change, the aim is to strengthen the professionalisation of the sector and provide a more accurate view of which manufacturers truly have the capacity to lead large installations backed by bank financing.
The result is a more exclusive and representative selection of the strongest manufacturers in the global solar module market.
Download TIER 1 List – Q4 2025
TIER 1 LIST Q4 2025 – Tier 1 manufacturers by production capacity
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Jinko Solar – 120.000 MW
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LONGi – 120.000 MW
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Trina Solar – 100.000 MW
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JA Solar – 100.000 MW
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Tongwei / TW Solar – 85.000 MW
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Canadian Solar – 61.000 MW
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Chint / Astronergy – 56.000 MW
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Risen Energy – 48.000 MW
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DAS Solar – 31.000 MW
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GCL System – 29.500 MW
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DMEGC – 21.000 MW
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TCL / Maxeon / TZE – 20.400 MW
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AIKO Solar – 20.000 MW
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Yingli – 19.200 MW
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First Solar – 15.200 MW
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Talesun / Taekmo – 13.000 MW
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Waaree – 12.000 MW
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Qcells / Hanwha Qcells – 11.200 MW
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Znshinesolar – 10.000 MW
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SolarSpace – 10.000 MW
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Haitai Solar – 10.000 MW
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Eging – 10.000 MW
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OSDA / Austa – 8.650 MW
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Renew Photovoltaics – 6.400 MW
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Renesola – 5.000 MW
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Hanersun – 5.000 MW
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DAH Solar – 5.000 MW
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Tata Power Solar – 4.910 MW
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New East Solar – 4.600 MW
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VSUN – 4.000 MW
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Sumec / Phono Solar – 4.000 MW
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BYD – 4.000 MW
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Adani / Mundra – 4.000 MW
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Vikram Solar – 3.500 MW
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ET Solar Inc / Elite Solar – 3.500 MW
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YH Sunpro Power – 3.000 MW
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Fellow Energy – 3.000 MW
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Boviet Solar – 3.000 MW
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Neo Solar Power / URECO – 1.800 MW
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Zhonghui / Taoistic – 1.500 MW
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The Tier 1 list by BNEF Q4 2025 confirms the consolidation of major global manufacturers and the sustained growth of new players with strong industrial capacity. Sorting this list by production volume makes it more practical for installers, distributors and developers working on projects of different scales.
At Vico Export Solar Energy, we work with manufacturers included in the BNEF Tier 1 list, offering immediate stock, technical advice and solutions tailored to residential, commercial and utility-scale projects.