PwC's annual PV Sustainable Growth Index (PVSGI) is a ranking of the financial performance and operational efficiency of the largest publicly traded solar companies. The Index emphasizes revenue growth, working capital, EBIT % and debt-to-equity, among other measures.
This year's PVSGI tracked 33 companies and uncovered several trends. The most apparent is the increasing stratification of the solar industry. As the industry has matured, stronger companies with robust operational strategies have taken business away from weaker, less integrated players, resulting in a handful of market leaders. Another big trend has been the growing concentration of top-ranked companies based in China.
Our research points to three imperatives for solar companies moving forward: smarter supply chains; differentiated products that are better tailored for individual market segments; and operational efficiency.