Boviet Solar

What Boviet Solar does

Boviet Solar is a solar photovoltaic module manufacturer specializing in high-efficiency TopCon (Tunnel Oxide Passivated Contact) N-Type cell and module technology. The company operated a 3 GW module assembly facility in Greenville, North Carolina, and was constructing an adjacent 3 GW cell manufacturing facility expected to reach mass production in late 2026 to form a vertically integrated US manufacturing hub. Additional module manufacturing capacity was based in Vietnam. Products targeted utility-scale solar developers, community solar operators, commercial/industrial and residential installers, government buyers, and environmental remediation projects on landfills, brownfields, and Superfund sites.

The company's business model is B2B direct enterprise sales of PV hardware (modules and, once online, cells) to project developers, utilities, government entities, and community solar program operators, with revenue generated from one-time hardware sales rather than subscriptions or services. US-domiciled production positioned the company to capture Section 45X tax credits and meet Buy American / domestic-content requirements for federal, state, and local government installations, while Vietnam operations provided overseas manufacturing flexibility. Boviet Solar was ranked among the top 10 US solar equipment makers and maintained Bloomberg NEF Tier 1 status continuously since 2017, Wood Mackenzie Grade A in H1 2025, and ranked 8th in Sinovoltaics' 2025 Global PV Module Financial Bankability Report.

Boviet Solar Technology Co., Ltd. was a subsidiary of Chinese diversified industrial group Ningbo Boway Alloy Material Co., Ltd., which is listed on the Shanghai Stock Exchange. In May 2026, Inox Clean Energy (backed by India's INOX Group) acquired 100% of Boviet Solar's US manufacturing assets for approximately $750 million, a transaction driven by US Foreign Entity of Concern (FEOC) regulatory scrutiny of China-linked solar manufacturers. Post-divestiture, the parent retained Vietnam operations, reshaping the company's geographic and customer footprint.

Name

Boviet Solar

Legal name

Boviet Solar Technology Co., Ltd.

Website

https://bovietsolar.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Boviet Solar is a TopCon N-Type photovoltaic module manufacturer producing high-efficiency solar modules for utility-scale, commercial, community solar, and government buyers. The company operated US manufacturing in Greenville, North Carolina, plus Vietnam production, before divesting US assets to Inox Clean Energy in May 2026 for ~$750 million.

Ownership category

akta.pro rank

Product category

Solar Photovoltaic Modules

NAICS

Solar Electric Power Generation (221114)

akta.pro primary industry

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD)

akta.pro secondary industry

Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK)

Keywords

• Photovoltaic modules
• Solar cell manufacturing
• TopCon solar technology
• Utility-scale solar
• Domestic solar manufacturing

Headquarters

HQ city

San Jose

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Solar Module Sales: Direct B2B sales of photovoltaic modules to project developers, utilities, government entities, and community solar operators. Revenue generated from one-time hardware sales for solar project installations.
2. Solar Cell Manufacturing: Production and sale of PV cells to complement module manufacturing, providing integrated solar manufacturing capabilities

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Boviet Solar manufactures and sells high-efficiency N-Type TopCon (Tunnel Oxide Passivated Contact) photovoltaic modules for utility-scale, commercial, industrial, residential, and community solar installations. The company operates a 3 GW PV module plant in Greenville, North Carolina and additional manufacturing facilities in Vietnam, with a 3 GW PV cell factory under development to create a fully integrated US manufacturing hub.

Product overview

Boviet Solar is a photovoltaic (PV) module manufacturer specializing in high-efficiency solar technology. The company produces N-Type TopCon solar modules with manufacturing facilities in the United States (Greenville, North Carolina with 3 GW module capacity) and Vietnam. The product portfolio centers on TopCon PV modules for utility-scale, commercial, industrial, and residential solar applications, complemented by cell manufacturing capabilities for vertical integration. The company also focuses on landfill, brownfield, and public sector solar projects, providing modules that meet domestic content requirements under the U.S. Inflation Reduction Act.

Differentiator

Problem solved

Functional benefit

Products and services

• TopCon PV Modules

Quantifiable outcome

• Record 9.2 GW shipments to US market in 2025
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Nautilus Solar EnergycoreOthers · 23 April 2026Boviet Solar supplied high-efficiency photovoltaic modules for the 6.6 MWDC Dundas Community Solar Garden in Minnesota, developed and owned by Nautilus Solar Energy. The project operates under Xcel Energy's community solar program.
• Xcel EnergyminorOthers · 23 April 2026Xcel Energy operates the community solar program under which Boviet Solar-supplied modules power the Dundas Community Solar Garden, enabling local subscribers to receive utility bill credits.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• REC Group: Norway-headquartered PV module manufacturer with Singapore cell/module production. Direct peer supplying premium N-Type modules to US and European project developers and residential installers.
• LONGi Green Energy: Chinese-headquartered global leader in monocrystalline silicon wafers, cells, and modules, with significant TopCon deployment. Direct peer in high-efficiency module supply and global Tier 1 ranking.
• First Solar: US-headquartered thin-film PV module manufacturer serving utility-scale and commercial solar. Direct peer as a domestic cell/module producer competing for the same project developers, utility offtakers, and Section 45X-eligible revenue.
• Mission Solar Energy: US-headquartered PV module manufacturer based in San Antonio, Texas. Direct peer competing for US utility, commercial, and residential projects with domestic-manufacturing credentials.
• JA Solar: Chinese-headquartered Tier 1 PV module and cell manufacturer with TopCon focus. Direct peer across module technology, scale, and global project developer customer base.
• Hanwha Qcells: South Korean-headquartered PV module and cell manufacturer with significant US manufacturing (Georgia). Direct peer producing TopCon and other N-Type modules for US utility-scale and distributed generation markets.
• Canadian Solar: Vertically integrated solar manufacturer with both cell and module production and significant US presence (inverters, storage, project development). Direct peer across product mix and US market positioning.
• JinkoSolar: Largest global PV module manufacturer by shipments, with TopCon technology leadership. Direct peer in module manufacturing, utility-scale supply, and Tier 1 bankability rankings.
• Trina Solar: Global Tier 1 PV module manufacturer with leading TopCon N-Type capacity. Direct peer competing head-to-head with Boviet in utility-scale module supply and global bankability rankings.
• SunPower (Maxeon): US-focused residential and commercial solar module manufacturer. Direct peer in the North American distributed-generation segment and competing for domestic-content premium pricing.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BovietSolarTech
• Facebookfacebook.com/Boviet-Solar-Technology-101861935765888
• LinkedInlinkedin.com/company/boviet-solar-usa

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boviet Solar