July 18th, 2014
￼Shoals Technologies Group Receives Top Score for Cost and Value in PHOTON Consulting’s Latest Research Report
PORTLAND, TENNESSEE, July 15, 2014 – Shoals Technologies Group, a global leader in photovoltaic components, has been named a top-rated solar power company in PHOTON Consulting’s 2014 cost benchmark report.
The True Cost of Solar Power 2014 is an annual survey of cost along the solar power supply chain. The report analyzes all costs in solar power systems including modules input and manufacturing costs, inverters, racks, wiring, monitoring, customer acquisition, system design and procurement, subsidies, permitting, financing and contracting, mechanical installation, electrical installation, inspection, interconnection and performance/warranty. Analysis covers a universe of more than 1,000 solar companies involved across the steps of the supply chain across dozens of global markets and segments. This report focuses on the “true cost of solar power” and emphasizes that companies must do more than deliver low cost for individual components; they must create value for end-customers, installers and financiers by delivering solutions that drive down total cost of ownership, not just cost in one step of the supply chain.
The report emphasizes that measuring cost alone provides only part of the picture. In addition to analyzing cost, it is essential to assess value for end-customers, installers and financiers to ensure that low cost translates to value capture. The True Cost of Solar Power 2014 provides both cost benchmarks and goes further to assess value creation.
Shoals Technologies is identified in the report as one of the industry’s elite players by combining low cost with a strong strategic value position. Specifically:
SHOALS NAMED BOS/SYSTEM COST LEADER: In terms of cost, Shoals is named as one of 17 cost leaders for balance of system (BOS) and system.
SHOALS NAMED DEFENSIBLE VALUE MINER: In terms of value, Shoals is named a “Defensible value miner” and one of 15 industry leaders.
SHOALS ACHIEVES TOP RATING: Shoals receives rating as a top industry leader in The True Cost of Solar Power 2014 for its combination of low cost and strong strategic position.
According to PHOTON Consulting, “Shoals has established itself as an elite leader by combining low cost with strong value.” It stands out for its ability to prioritize local markets, line up a strong value proposition along the entire supply chain including its advanced system design capabilities, achieve high local share from focused sales and marketing and provide its customers with diverse product and service offerings for balance of system.
In addition, The True Cost of Solar Power 2014 highlights that Shoals has begun offering solutions to improve solar system performance and address network reliability issues, including its SNAPshot wireless monitoring. “Monitoring [such as SNAPshot] in many cases creates significant additional value that more than compensates for additional hardware cost by reducing installation costs and system performance risk.”
According to PHOTON Consulting, Shoals has a “very strong strategic position” with a proven track record. The next challenge for Shoals, according to the report, is to prove that it can continue to expand with repeated success across a larger portfolio of markets. On the path to this goal, Shoals is committed to continuing its international expansion, including significant recent expansions in Japan, China, Middle East, North Africa and India.
About Shoals Technologies Group
Shoals Technologies Group is a leading manufacturer of balance of systems solutions. Consistently providing customers with innovative designs and superior quality products has directly contributed to the exponential growth since its founding in 1996. With over 15 GW+ of BOS products deployed globally, Shoals maintains a diverse portfolio of PV balance of systems products, including, combiner/re-combiner boxes, disconnecting combiner boxes, custom harnessing solutions, junction boxes, PV wire, in-line fuses, racking and PV monitoring solutions.