Solar Energy Grading Scale

A Solar Grading reflects our opinion on the performance capability and financial strength of the solar project (SP). The grading scale '1 - 5' indicates the performance capability and 'A - E' indicates the financial strength of the project.

For example, a project assigned a grading of 'SP 2A' would have high-performance capability and high financial strength. Conversely, a project with a grading of 'SP 4C' would display weak performance capability and low financial strength.

Our Solar Energy Grading scale is as follows:
 

Grading Process

The chart below illustrates the steps taken in grading a company: 

The grading process involves the following steps:

• Channel partner approaches Crisil for grading, submitting documents, mandate forms and cheque (payable in Mumbai) drawn in favour of Crisil Ltd (format for the mandate form, and list of documents are available on request)
• On receipt of all documents, as detailed in the annexure, Crisil commences review of the information, and eventually assigns a grade
  
• Channel partner submits report to Project Approval Committee (PAC), and the application for approval of subsidy under the JNNSM scheme
  
• PAC sanctions the proposal, and disburses the subsidy

Solar Energy Gradings Framework

Ministry of New and Renewable Energy (MNRE) mandated us to develop a detailed analytical framework to be used in grading channel partners. The framework was developed based on discussions with a variety of stakeholders, including manufacturers, system integrators, bankers, industry associations, and government officials in the solar energy sector. We sought opinion from them on the current scenario in the renewable energy sector and their expectations from it, and the best practices adopted by entities. The framework was then finalised based on feedback received from stakeholders.

The framework was also validated using a comprehensive exercise that involved testing the framework on entities identified by MNRE, which then adopted the framework and approved of its use in grading channel partners.