BloombergNEF Releases Q2 2024 Tier 1 Energy Storage List
The globally renowned research institution BloombergNEF (BNEF) released its ‘BNEF Energy Storage Tier 1 List 2Q 2024’, unveiling its updated global Tier 1 energy storage manufacturers list.
The Q2 2024 report features 35 energy storage brands globally, with 23 originating from China:
Xuji Electric, Narada Power, Sungrow Power, Caire Energy, Shanghai Ronghe Energy Storage, REPT BATTERO (Ripulan Jun), RelyEZ (Yuenxin Energy), Pinggao Group, KeHua Tech (KeHua ShuNeng), JinkoSolar, JD Energy (Qidian Energy), HiTHIUM, Huawei, Gotion High-Tech, EVE Energy, Envision Energy/Power, Cubenergy, CRRC Zhuzhou Institute, CLOU Electronics, CATL, andBYD(brands listed in no particular order).
This marks the second quarter of BNEF’s dedicated energy storage tiering system. Previously, on January 11th, BNEF announced its inaugural Q1 Tier 1 list, which featured 25 global energy storage brands, 14 of which originated from China:
Narada Power, Sungrow Power, Caire Energy, Shanghai Ronghe Energy Storage, REPT BATTERO, Pinggao Group, KeHua Tech, HiTHIUM, Gotion High-Tech, EVE Energy, CRRC Zhuzhou Institute, CATL, andBYD.
Understanding BNEF’s Tier 1 Rating System
BloombergNEF is recognized as one of the most credible third-party research institutions in the global renewable energy market. It has independently developed a rigorous supplier rating system, which is widely considered a fair, objective, and highly authoritative benchmark within the industry.
Over the years, BNEF’s Tier 1 list in the solar photovoltaic field has become an essential reference for international investors, banks, and project developers evaluating manufacturer bankability.
However, BNEF’s dedicated Energy Storage Tier 1 List was only established in early 2024, meaning its global dataset and reporting coverage are continually expanding. Following the release of the Q1 list, several well-known brands were initially absent due to ongoing data submissions—including household names like Deye inverters.
BNEF states that the Tier 1 Energy Storage List is published quarterly, and its evaluation criteria may evolve alongside market developments. The list relies strictly on verified, publicly available project data demonstrating deployment history. Manufacturers are required to submit supporting documentation, and submitting inaccurate or unverified project data results in strict disqualification penalties.
As BNEF’s evaluation system matures throughout 2024 and beyond, it continues to serve as an indispensable tool for sourcing high-quality solar energy storage systems and commercial energy equipment globally.
