According to a report published by Solar Energy Industries Association, over the next five years, Texas is expected to install over 5000 MW of solar electric capacity, ranking the state second over that time span. This amount is more than 10 times the amount of solar installed over the last five years. And why not? It makes sense for consumers to own a solar plant on their rooftop or in their yard and claim energy independence instead of always relying on ever-increasing utility rates.

The demand for solar panels in the US is high. This situation not only makes solar affordable but also makes it a lucrative investment option. The ROI on solar projects usually ranges from 10% – 20%. Multiple factors can influence ROI and are important to consider in financial planning for your solar project. Quality of panels is one such contributing factor, and since there is an abundance of solar panels manufacturers varying significantly in their durability and efficiency, choosing the right brand becomes very difficult.

Here are few things that one needs to know about solar panels.

How to choose the correct panels for your project?

The Tier 1 ranking scale is proposed by Bloomberg New Energy Finance Corporation and is used to rank solar panel manufacturers in terms of their bank-ability or financial stability. Only the top 2% of solar manufacturers in the world are Tier 1 manufactures. They invest in their own manufacturing and R&D facility unlike Tier 2 and Tier 3 manufactures who do little or no investment at all in R &D. Tier 1 firms have global distribution – there are almost 25 Tier 1 panel manufacturers in the world with Yingli, Jinko and Renesola topping the list.

Which type of panel is the best – mono-crystalline, poly-crystalline or thin film amorphous?

Above mentioned are the three technologies that are involved in the manufacturing of panels. There are some visible differences, however, as far as the performance is concerned, that is based on their warranty and efficiency rating – making Tier 1 Panels as your best bet!

Are there any panel parameters that need to be looked at?

Solar panels will slowly lose performance over time, typically around 0.5% to 1% per year as part of their normal life cycle. A reputable manufacturer will offer a 25-year power production warranty guaranteeing that their solar panels will continue to generate electricity at a certain capacity (usually at least 80%) for the warranty’s duration.

What is efficiency rating?

Efficiency rating is a measure of how efficiently it converts the energy from the sun into electricity. Usually, an efficiency rating between 14% and 20% is considered highly efficient.

Can panels be damaged by hail?

Solar photo voltaic panels are made of tempered glass and can withstand hail, snow, rain, and high winds. Generally, Tier 1 solar panels are hail impact tested as part of the certification process, and therefore the chances for any hail or lightning damage are very rare.