How much of Array Technologies’ revenue comes from haram?

Array Technologies manufactures solar tracking systems designed to direct solar panels towards the sun and follow the sun’s path throughout the day to increase solar panel efficiency.

The company generates its revenue from selling its solar tracking systems and system components.

Practical Islamic Finance concludes:

None of Array Technologies’ revenue comes from anything inherently haram.

Does Array Technologies rely on interest to operate?

Year-to-Date
for period ended
6/30/2021
Fiscal year
ended
12/31/2020
Fiscal year
ended
12/31/2019
Interest Income
Total Revenue$448,728$872,662$647,899
Interest Expense$15,660$15,129$18,797
Total Expenses$429,969$777,450$564,490
Other Income (Net) / Revenue
Other Expense (Net) / Total Expense3.64%1.95%3.33%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Array Technologies’ operations.

What is Array Technologies’ Environmental, Social, and Governance (ESG) impact?

Environment

According to Array Technologies, its tracker technology can increase energy production by over 25% than traditional fixed-tilt arrays.

Social

Array Technologies has a Glassdoor rating of 3.6 out of 5.0 from over 28 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

Array Technologies has a net positive ESG impact.

Comfort Rating

From Array Technologies’ business, financial, and ESG reviews, Practical Islamic Finance rates Array Technologies stock as:

Comfortable to invest in from a Halal perspective.

Sources

Array Technologies 2020 10-K

Array Technologies Q2 2021 10-Q

Array Technologies Investor Report

Array Technologies Reviews