PVMI was first launched by RETC in 2019 in response to market demand. It is the first report in the industry that comprehensively covers the test results on the three aspects of quality, reliability and performance. The report evaluates the modules through tests for damp heat (DH), humidity freeze (HF) and thermal cycle (TC), etc., and through the testing results of module efficiency, light induced degradation (LID) and random sampling, etc. It aims to select the modules with the best performance to provide reference to module manufacturers in product technology innovation, high-quality production, and to downstream manufacturers in module selection.

RETC said in the report that in order to select "the best of the best" among multiple module manufacturers, they scored and ranked the manufacturers based on comprehensive module quality, reliability and performance. "Manufacturers and product lines that achieve high performance according to these three disciplines not only demonstrate a commitment to excellence, but also provide a benchmark – a quantitative measure representing the best that the industry has to offer."