Dubai, United Arab Emirates – 30th August 2022: The world’s leading independent advisory, testing, inspection and certification organization, UL (Underwriters Laboratories), published a bankability study report on Trina Solar’s Vertex series modules. Twelve models of Vertex modules were shown to have excellent performance in reliability, compatibility and lowering LCOE and a high-standard quality management system.
In all dimensions of the bankability study, UL reviewed Trina Solar’s products based on test results, reports and certifications from accredited third-party test laboratories. The analysis, based on strict examination of product value and a comprehensive understanding of the entire industry and global technology resources, is widely recognized by international investors and owners of solar plants and provides authoritative technical support for project financing and operation.
Superior performance in reliability tests
In the inspection of the reliability of Trina Solar’s Vertex series modules, UL reviewed the key specifications of the products, as well as third-party certifications and test reports from accredited laboratories such as TÜV, PVEL, RETC and CTC. The latest study looked at junction box, mechanical reliability, encapsulation, frame and ARC coating, reliability, transportation, delivery and installation of modules. UL concluded that the modules reviewed complied with normal safety standards and offered superior performance.
Outstanding compatibility with major inverters and trackers
When UL investigated the compatibility of inverters in the market, it found that the Vertex Series PV modules are compatible with both utility-scale inverters and string inverters.
Vertex Series PV modules are compatible with utility-scale inverters in terms of short circuit current of the modules by selecting the right configurations to match the MPPT specifications of high-current inverters, providing flexibility to meet project requirements.
Due to high-power modules becoming mainstream modules, string inverter manufacturers have also upgraded their products. Each MPPT input can take two strings with total input current at 45A. Trina’s Vertex Series module’s operating current at approximate 17A is compatible with the common string inverter manufacturers.
Trackers are commonly used in utility-scale PV projects. When the Vertex series modules with trackers are used, Trina Solar’s bifacial dual-glass modules effectively increase system energy yield by 5% to 30%.
LCOE significantly reduced by 4.1%
UL reviewed the LCOE reports by many third parties, including Black & Veatch, DNV, Enertis and Fraunhofer ISE, and found that CAPEX and LCOE are lower than is the case with when generic module types are used for the same plant configurations. For instance, compared with the 182-540W reference module, the Trina Solar Vertex 670W series module can reduce LCOE by 4.1%, and BOS costs by up to 6%.
Intelligent QC process to ensure production reliability and continuity
During a visit to Trina Solar’s Yancheng factory in March, UL reviewed the company’s quality management system and quality control plan. The quality control process flow chart presented an overview of the entire process, demonstrating standardization, advancement and intelligence. UL rated the overall quality control regime favourably.
Trina Solar has a complete quality control system that includes data collection, data analysis and risk warning, covering the entire process of data from customer order generation to material, performance, shipment and after-sales quality feedback based on cloud database.
UL said that during the factory visit most of the key manufacturing process was fully automated, with minimal human interference, such as high-speed multi-busbar soldering, PV cell layout, lamination, junction box installation and inspection and packaging, to name a few. Even visual inspection is done by video artificial intelligence to minimize human error. UL viewed the entire automation of the manufacturing process positively in terms of quality management.
A promising future ahead
In addition to UL’s bankability study report, Trina Solar has also been ranked a Top Performer in the 2022 PV reliability scorecard by PVEL. Bloomberg NEF has given it a 100% bankability score in each of the past six years, and the PV ModuleTech Bankability report published by PV-Tech has given it an AAA ranking in 2022.
Trina Solar has delivered more than 100 GW of solar modules worldwide to April and was ranked second-largest module supplier in 2021 and the first quarter of 2022. Its cell production capacity is expected to reach 50GW+ and its module capacity 65GW+ this year, a Trina Solar financial report says. Yancheng manufacturing base delivers 17GW of modules and 19GW of solar cells a year.
The UL report also mentioned that in terms of financial health, the company is observed to be strong.
In terms of product value, technological innovation and financial performance, Trina Solar has obtained wide technical and brand recognition from renowned independent institutes worldwide, demonstrating the strong confidence that the PV market has in Trina Solar.
About Trina Solar (688599. SH)
Founded in 1997, Trina Solar is the world leading PV and smart energy total solution provider. The company engages in PV products R&D, manufacture and sales; PV projects development, EPC, O&M; smart micro-grid and multi-energy complementary systems development and sales, as well as energy cloud-platform operation. In 2018, Trina Solar launched its Energy IoT brand, established the Trina Energy IoT Industrial Development Alliance together with leading enterprises and research institutes in China and around the world, and founded the New Energy IoT Industrial Innovation Center. With these actions, Trina Solar is committed to working with its partners to build the energy IoT ecosystem and develop an innovation platform to explore New Energy IoT, as it strives to be a leader in global intelligent energy. In June 2020, Trina Solar listed on the STAR Market of Shanghai Stock Exchange. For more information, please visit www.trinasolar.com