Boviet Solar Technology Co. Ltd., a leading solar energy technology company specializing in monocrystalline PV cells and Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules, has been recognized as one of the top 10 most financially stable solar PV manufacturers in the Third Edition of Sinovoltaics’ 2025 PV Manufacturer Ranking Report—having also ranked in the top 10 in Sinovoltaics’ First and Second Editions this year.
“In today’s fast-evolving solar market, financial resilience is more important than ever,” said Dricus de Rooij, CEO and co-founder of Sinovoltaics. “Boviet Solar’s consistent performance reflects a strong financial foundation.”
Sinovoltaics, a Dutch-German battery energy storage and solar photovoltaic technical compliance and quality assurance service firm, uses Altman-Z Scores to rank the financial strength of companies in its PV Module Manufacturer Ranking Report. Sinovoltaics’ Edition 3-2025 rankings include the financial stability scores of 64 publicly listed Asian, European, and American solar PV module manufacturers. The report includes historical trends and comparative scores to support informed decision-making. Notably, the ranking focuses exclusively on financial stability and does not assess product quality, making it a valuable complementary resource for procurement and investment teams conducting holistic supplier risk assessments.
“Being ranked again among the top 10 most financially stable PV manufacturers speaks to the discipline and foresight behind our financial and operational strategy,” said Scott Chen, VP of Global Sales and Marketing. “It reinforces to our customers and partners that Boviet Solar is built for the long haul—with the stability and strength needed to support ambitious solar deployments around the world.”
The Altman Z-Score is an established financial metric that measures credit strength and bankruptcy risk, identifying which companies are financially secure and which are at risk of going bankrupt within the next two years. The main factors affecting the Sinovoltaics rankings include:
- Working Capital
- Total Assets
- Retained Earnings
- Earnings Before Interest & Tax
- Market Value of Equity
- Total Liabilities
- Sales
PV modules from financially stable manufacturers help mitigate the risk of a collapsing return on investment (ROI) in any PV project. A PV module manufacturer’s financial stability impacts the validity and enforceability of its warranty policies.
“This recognition is more than a number—it reflects the confidence our clients can place in Boviet Solar as a reliable partner,” said Sienna Cen, President of Boviet Solar USA. “In a market where long-term performance and warranty trust are critical, our financial strength gives customers peace of mind while we stay focused on delivering solutions that drive sustainable progress.”
In addition to these rankings, Boviet Solar has consistently demonstrated strong bankability, as evidenced by its inclusion in the top 10 global bankable PV module manufacturers by Wood Mackenzie. Black & Veatch also successfully completed an independent assessment of Boviet Solar’s manufacturing facilities in 2022. Boviet Solar’s PV modules are known for their power, performance, and quality and have been rated as top performers on Kiwa PVEL’s PV Module Reliability Scorecard since 2017.
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