A new standardized rating system aims to assess the investment quality and technical risks of ground-mounted photovoltaic systems. Developed by the Texxecure Rating Foundation, the system provides a technical risk assessment based on a rating scale ranging from AAA to D.
The rating system is intended for project developers, engineering, procurement and construction (EPC) companies, asset owners, banks, investors, and insurance providers. According to the foundation, it is designed to provide a transparent, reproducible, and comparable assessment based on uniform criteria.
“We believe Texxecure is the first independent technical rating system that provides a holistic view of a solar installation — from components and manufacturing processes through to project execution. The result is summarized in a simple rating scale, allowing stakeholders to understand the overall technical quality without having to interpret complex technical reports,” Thomas C. Sauer, CEO of Exxergy, the parent company of Texxecure, told pv magazine.
“Today, we often hear arguments such as ‘this is a Tier 1 module’ or ‘this component has a certificate.’ These are important elements, but they only provide a partial picture. A Tier 1 classification may support financing decisions, but it does not provide a complete assessment of product quality or project execution. Certificates can also vary significantly depending on what has actually been tested,” Sauer said.
“The rating system looks at the product itself, the processes behind it, and the final implementation. By combining these elements, we can create a more complete picture of the technical quality of a PV asset,” he added.
The assessment can be applied to individual components, such as PV modules and inverters, as well as complete photovoltaic projects. The foundation recommends starting the process during the early development stages, although existing installations can also be assessed.
“The ideal scenario is to start the rating process during the development phase, when the history of components and decisions is fully available. However, existing PV plants can also be assessed. In those cases, the quality of the available documentation and evidence determines how comprehensive the rating can be,” Sauer said.
The assessment consists of two stages: an initial review of project documentation followed by a physical on-site inspection. Both elements contribute to the final rating. Projects receiving ratings from AAA to B are awarded a certificate and receive a detailed inspection report. Assessment results are stored in a database, with access controlled by the client.
A central element of the system is the “type rating” of PV components, particularly modules and inverters. According to Texxecure, this product-specific assessment forms the basis of the rating methodology. Data from rated components is incorporated through an algorithm into the overall project assessment of developers and EPC contractors.
The system can also be used for existing installations, including projects undergoing resale, refinancing, or insurance renewal assessments.
The rating methodology was developed in the context of performance guarantee insurance products, with participation from HDI-Gerling, a German insurance group specializing in industrial and commercial insurance solutions, and reinsurance support from Munich Re, one of the world’s largest reinsurers. The foundation said several banks have supported the initiative, while Germany’s German Commission for Electrical, Electronic & Information Technologies (DKE), the national platform responsible for developing standards and technical rules in these fields, has also supported its development.
According to Texxecure, the rating system is intended to complement or provide an alternative to conventional technical due diligence assessments conducted by engineering firms. While traditional due diligence reports can vary depending on the scope of an assignment and the auditor, Texxecure said its approach provides a standardized technical evaluation based on defined methods and criteria.
The assessment framework considers technical requirements based on relevant ISO and IEC standards, quality management principles including ISO 9000 and EFQM, as well as environmental, social, and governance (ESG) criteria.
Ratings are carried out by independent “rating bodies” — engineering firms qualified by Texxecure to perform assessments and issue certificates. These organizations must comply with the foundation’s “Rules of Procedure” and “Standard Operating Procedures.” Institutions accredited under the ISO/IEC 17000 series of standards undergo a simplified admission process, while other applicants are subject to a preliminary audit.
The first projects have already been implemented in cooperation with TÜV Rheinland. Other qualified inspection organizations can apply to become rating bodies.
“The system cannot scale if everything is performed by Texxecure alone. We are therefore working with qualified inspection bodies, engineering firms, and certification organizations that can operate within our rules and procedures,” Sauer said.
The foundation said the system is intended for international deployment. Its regulatory framework is reviewed and updated by an advisory board responsible for refining procedures, standards, and assessment criteria. Stakeholder groups also allow market participants to contribute to the further development of the system.
“We need to be honest about quality issues in the sector. There are installations that were built quickly under strong market pressure and do not meet the standards we would expect today. If these issues accumulate, they could eventually damage confidence in the entire solar industry,” Sauer said.
“A PV plant that has been operating for 10 or 15 years may require additional investment, for example in battery storage. In many markets, investors need confidence that the existing PV system will continue operating long enough to support the new investment. These are exactly the types of questions that a standardized rating system can help answer,” he concluded.
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