S&P Global Energy's 2026 Tier 1 Cleantech Companies list has grown considerably since its 2025 debut, and now covers solar modules, PV inverters, wind turbines, battery energy storage systems and, for the first time, battery cells. The expansion tracks a market S&P describes as increasingly split: solar facing oversupply and margin pressure, while battery storage demand keeps accelerating.
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Twelve manufacturers made this year's inverter list: Enphase, Ginlong Technologies, GoodWe, Growatt, Huawei, Ningbo Deye, Sineng Electric, SMA, SolarEdge, Sungrow, TBEA Sunoasis and Zhuzhou CRRC Times Electric. Fifteen module suppliers and ten wind turbine suppliers were also named. The list assesses companies against six criteria, market presence, market share, scale, global diversification, corporate sustainability and financial performance, and this year added credit risk as a core financial metric for the first time, assessed through S&P Global Market Intelligence's RiskGauge tool.
Decades-long projects, decades-long risk
The addition reflects a broader shift in how the industry is now vetting suppliers, a point echoed by Jürgen Reinert, CEO of SMA Solar Technology: "Being recognised as a Tier 1 supplier confirms SMA's market position and underscores our commitment to supporting customers as a reliable, long-term partner.“. "For large-scale PV projects designed to operate for decades, technology performance alone is not decisive." Long asset lifespans mean developers and financiers increasingly want assurance that a supplier will still be solvent and operating decades into a project, not just that the hardware performs well on the day of inauguration.
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For manufacturers today, Tier 1 status functions as baseline for broader market access and a credential that developers, offtakers and financiers increasingly expect before considering a long-term equipment contract. (TF)
