BloombergNEF launches Tier 1 list for battery suppliers

Initiative results from the growing demand for batteries and the arrival of new players on the market
4 minute(s) of reading
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The initiative results from the growing demand for batteries and the arrival of new players in the international market. Photo: BloombergNEF/Disclosure

A BNEF (BloombergNEF) released the list Tier 1 energy storage solution providers. The initiative, according to the company, results from the growing demand for batteries and the arrival of new players in the international market.

Currently, the international photovoltaic market already has a list Tier 1 classification for photovoltaic module products, based on the financial viability of manufacturing companies.

To develop the energy storage Tier 1 list, BloombergNEF developed a rating system for energy storage products based on implementation over the past two years. The main objective, according to the company, is to create a transparent differentiation between hundreds of manufacturers on the market.

Furthermore, the company clarifies that battery buyers and banks should not use the Tier 1 list as a measure of quality. For this purpose, the company recommends consulting technical due diligence companies such as DNV GL, TÜV SÜD, UL, Intertek, Exponent, China Automotive Battery Research Institute, Eurofins Energy Storage or Kema Laboratories.

Criteria to be Tier 1

To develop the list, 9 thousand energy storage projects registered in the database were analyzed User BNEF's Energy Storage Assets (BNEF Energy Storage Assets) until June 2023.

For each project to be eligible, it is necessary that:

  • It is greater than 1 MW or 1 MWh;
  • Be owned by companies that are not affiliated with the battery supplier, that is, the buyer of the energy storage system must be from another company; It is
  • Not built to meet renewable energy project integration mandates (such as those in place in many Chinese provinces).

In addition to the above criteria, for an energy storage brand to be listed as Tier 1 it must have supplied, or be firmly contracted to supply, products to six different eligible projects in the last two years.

Another point highlighted by BNEF is that are considered both the cell suppliers as well as systems integrators such as battery manufacturers. However, the company highlighted that, to be considered, the company must have battery factories, and companies that outsource production are not considered.

BNEF also pointed out that providers who entered filed for bankruptcy or are in default on major financial obligations are removed from the Tier 1 list until further notice.

How can suppliers participate?

Suppliers interested in being part of the Tier 1 list must download the model provided by BNEF and send information to the company via email [email protected].

Emails with data received before December 1, March 1, June 1, and September 1 will be processed for the next quarter's Tier 1 list. Data received in subsequent emails may only appear in the database until processed for the next quarter's Tier 1 list.

Submitted projects must be tracked by the BNEF database, which means that the project location (address, coordinates or other data sufficient to uniquely identify the individual project), capacity, key participants (such as developer, owner and storage provider), application and technology must be in the public domain.

During the review, BNEF may require evidence for the existence of the project in the form of a public document, such as a press release from one of the companies involved, an article about the project published by a recognized media company, or a copy of the contract with the project developer, owner or bank.

How to access the Tier 1 list?

A Tier 1 list is available quarterly only to Bloomberg subscribers, and it is not possible to obtain the document in any other way. Those interested in obtaining a quote for a Bloomberg subscription should contact the company by email [email protected].


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Picture of Ericka Araújo
Ericka Araújo
Head of journalism at Canal Solar. Presenter of Papo Solar. Since 2020, it has been following the photovoltaic market. He has experience in podcast production, interview programs and writing journalistic articles. In 2019, he received the 2019 Tropical Journalist Award from SBMT and the FEAC Journalism Award.

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