China is quickly becoming a world leader in renewable energy, with an especially rapid growth in photovoltaic (PV) systems. PV systems directly reduce carbon emissions, and China's top 5 PV inverter manufacturers are leading the way in this rapidly-growing industry. If you're looking for a reliable and efficient inverter, be sure to check out one of these top 5 companies.
Sungrow: Leading Supplier of Solar Inverters and Energy Storage Solutions
Founded on July 11, 2007, Sungrow is a national key high-tech enterprise that focuses on research and development, production, sales, and services of new energy power equipment, such as solar, wind, storage, hydrogen, electric vehicles, and more. Its main products include PV inverters, wind power converters, storage systems, floating PV systems, new energy vehicle drive systems, charging equipment, renewable energy hydrogen production systems, smart energy operation and maintenance services, and more, aiming to provide world-class clean energy full-life cycle solutions. The five major tracks of wind, light, storage, hydrogen, and electric vehicles are developing synchronously.
The company's business mainly includes PV inverters, wind power converters, storage systems, new energy vehicle drive systems, and hydrogen energy, all of which are high-growth development tracks. As of H1 2021, Sungrow's cumulative shipments of PV inverters among the top 5 PV inverter manufacturers reached 182 GW, becoming the company's pillar business. In the future, the company will seize the opportunity of energy transformation in the context of carbon neutrality, strengthen the synergy of wind power, storage, and other businesses, and develop these five businesses synchronously.
The company will maintain its leading position in the ground power station market and strengthen the development of the distributed market channel. The company's PV inverter product market share ranks first in the world. It is expected that the company's PV inverter shipments will reach 47 GW in 2021 and 66-70 GW in 2022, among which the distributed installation capacity will increase significantly. At the same time, it will quickly seize the new distributed installation market.
With the "Cellless" energy storage system strategy, the energy storage business has doubled. The energy storage system has peak shaving and valley filling functions, which can effectively smooth the power curve of wind and PV, reduce wind and PV abandonment, and ensure the stable operation of the power grid. New energy + energy storage will be an important way of future energy supply.
The company seizes the opportunity of the rapid development of the energy storage industry, fully exerts its advantages in power electronic equipment, adopts the "no-battery" energy storage system strategy, develops household and commercial energy storage systems, and launches 5-10 kW/9.6-102.4 kWh household energy storage systems and 50 kW-1 MW/2-5h distributed energy storage systems, which have been mass-produced in the global market.
Goodwe: A Leading Supplier of Solar Inverters and Related Products
Goodwe was founded on November 5th, 2010, and is a leading supplier of solar inverters and related products. The company's product line includes grid-tied inverters, energy storage systems, SEMS systems, and supporting products, which can be applied in residential, commercial, ground-mounted, and energy storage fields. Additionally, Goodwe provides services such as power plant system design, troubleshooting, and quality assurance.
Grid-tied inverters contribute to the company's major revenue, while energy storage inverters are growing rapidly. In 21H1, the company shipped approximately 238,500 inverters, including approximately 217,500 grid-tied inverters, accounting for approximately 91.19% of total shipments, and approximately 21,000 energy storage inverters, accounting for approximately 8.81%. It is expected that in 2021, the company will ship approximately 450,000 grid-tied inverters and 50,000 energy storage inverters, with the proportion of energy storage inverters increasing to 15%. The optimization of the shipment structure is expected to further enhance the company's profitability.
Goodwe's frequency converter product line is complete, and production capacity continues to expand. The company's inverter products are comprehensive and cover various demands in the residential, poverty alleviation, commercial, and large-scale power plant fields. The string-type grid-tied inverters cover a power range of 0.7-250kW, fully meeting the requirements of various photovoltaic components and grid-connected networks. Photovoltaic energy storage inverters cover a power range of 2.5-10kW, providing a series of solutions such as microgrids and commercial energy storage.
Ginlong: Professional Enterprise for Photovoltaic Systems
Ginlong was established in 2005 and is a professional high-tech enterprise engaged in the research, development, production, sales, and service of photovoltaic power generation systems, ranking among the top five manufacturers of photovoltaic inverters. After more than ten years of development, it was successfully listed on the Shenzhen Stock Exchange on March 19th, 2019, becoming the first listed company in A-shares with string-type inverters as its main business and the first third-party authoritative organization in the world to rank among the top five photovoltaic inverter manufacturers in the PVEL reliability testing report.
Starting with distributed string-type inverters, Ginlong insists on a global layout. The company's main products include the 2G-5G single-phase and three-phase series of string-type inverters, with a power range of 0.7-230kW and a variety of product types. Additionally, the company actively develops major global markets such as the United States, the United Kingdom, the Netherlands, Australia, Mexico, India, Brazil, and Southeast Asia, and has formed long-term stable cooperative relationships with high-quality products. Its customers are distributed in Asia, Europe, America, Australia, and other countries and regions.
With secure order demand, market share is expected to further increase. With the high growth of household photovoltaic demand in Q1 2022, the company's shipments of household photovoltaic inverters are expected to reach a historical high. The company's order is full, and the main sales for the year are limited by the supply of raw materials. The supply of IGBT will determine the company's annual shipments. The company's market share is expected to further increase.
Deye: A Leading Manufacturing Enterprise with a Diversified Business Portfolio
Deye was established on August 4th, 2000. It is a large manufacturing technology enterprise that integrates research and development, design, production, sales, and service. The company has four core industrial chains: environmental protection appliances, heat exchangers, and two others. With steady development of traditional businesses, the company has been working on channel construction and brand influence.
The company's business includes three major sectors: heat exchanger, environmental protection electrical, and inverter business. In the heat exchanger sector, the company is deeply bound to the industry leader Midea air conditioning while also enhancing new customer development, effectively improving product sales. In the environmental protection electrical sector, the company continuously strengthens channel construction and brand influence, develops online and offline in sync, improves product sales, and creates performance moats.
Deye entered the inverter business in 2017 and has been using differentiated market strategies, mainly for household photovoltaic energy storage. Relying on years of experience in small household appliances, the company has strengthened supply chain business cooperation, demonstrated robust cost control capabilities, and expanded overseas markets.
Since entering the inverter business in 2017, Deye has quickly expanded into several national markets. In H1 2021, the company sold 131,900 inverters, including 68,300 string inverters, 26,200 energy storage inverters, and 37,400 micro inverters, maintaining a high growth rate. The inverter business is expected to become a new profit growth point for the company.
CHINT: A Global One-stop Solution Provider for Low-voltage Electrical Products and Systems
CHINT is a globally renowned one-stop supplier of low-voltage electrical products and system solutions. It was established in August 1997 and specializes in the research and development, production, and sales of more than 100 series and 10,000 specifications of low-voltage electrical products such as distribution appliances, control appliances, terminal appliances, power appliances, and power electronics. It provides increasingly sophisticated system solutions to industries such as communications.
In more than 30 years of operation, CHINT has provided reliable products and services to over 140 countries and regions. It successfully listed on the Shanghai Stock Exchange on January 21, 2010. With a business presence in over 140 countries and regions, CHINT has over 40,000 employees worldwide and annual revenue exceeding 100 billion yuan. It has been listed among the top 500 Chinese companies for 20 consecutive years and is the first A-share listed company with low-voltage electrical appliances as its main business. It is also one of the top 50 Asian listed companies.
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