The company beat on earnings per share and revenue expectations, with the company reporting "great sales," said Cramer, the co-manager of the Action Alerts PLUS portfolio.
Guidance was also encouraging, with the midpoint for both full-year revenues and earnings were above analysts' estimates.
"They did a fantastic job," Cramer said, adding that many investors didn't expect solar to do well, given the low price of oil. But it has nothing to do with oil, it has to do with sustainability and the pro-solar movement in the U.S., he explained.
Yesterday, the company said it would need more reserves in the event that oil prices stayed at $25 per barrel over the next 18 months - although management doesn't expect that as the likely case.
The bank has more exposure to the oil and gas sector than many of its peers, Cramer pointed out.
However, he had an issue with JPMorgan's accountant's take on not boosting the reserves as much as CEO Jamie Dimon would have liked: What if $25 oil is too optimistic?
It's totally possible for oil to fall below that mark, and possibly far below it. If that's the case, JPMorgan will be in trouble, on account of its exposure to the exploration and production companies involved in the sector, Cramer concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.