Array Technologies, Inc. (ARRY) Stock Analysis

Array Technologies’ primary competitive advantage lies in its patented single-axis solar tracker design, notably the DuraTrack system, which allows one motor to drive multiple rows of panels. This design reduces installation complexity and maintenance costs compared to Nextracker, its largest rival, which typically uses a one-motor-per-row approach. Array’s core U.S. patent on this system is protected until 2030, providing a medium-term barrier to direct imitation.

The company’s products are panel-agnostic, compatible with most solar modules, and engineered for extreme weather, as seen in the Hail XP and OmniTrack offerings. This flexibility is valued by utility-scale customers seeking reliability and lower lifetime costs.

Array’s U.S.-based manufacturing and supply chain are strategic strengths, especially as domestic content requirements and tariffs increase. The company’s recent move to offer 100% domestic content trackers positions it to capture maximum tax incentives under the Inflation Reduction Act, a differentiator versus international competitors such as PV Hardware and GameChange Solar.

Customer relationships are another asset: Array has delivered 91 GW of trackers globally and is recognized for reliability and service. However, the company faces margin pressure from rising input costs and aggressive pricing by Nextracker, which holds a larger market share. While Array’s technology and U.S. footprint are defensible, ongoing innovation and cost discipline will be necessary to sustain its edge.