Is Array Technologies (ARRY) Halal to invest in?

Is Array Technologies (ARRY) Halal to invest in?

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?

for period ended
Fiscal year
Fiscal year
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?


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


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.


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.


Array Technologies 2020 10-K

Array Technologies Q2 2021 10-Q

Array Technologies Investor Report

Array Technologies Reviews

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