Photovoltaic inverter export profit

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About Photovoltaic inverter export profit

Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume. Sungrow and Huawei tied for first place in the list with outstanding performance. Sungrow achieved revenue of 27.65 billion yuan in 2023, up 61% year on year, and net profit of 9.4 billion yuan, with shipments of 130 GW.

Solar PV products are a significant export for China. In 2021, the value of China’s solar PV exports was over USD 30 billion, almost 7% of China’s trade surplus over the last five years.

From the perspective of shipment data, Sungrow shipped 130GW of PV inverters globally in 2023, an increase of 68.83% over 2022 and 10.5GWh of energy storage systems. The growth in Q1 2024.

In 2022, Huawei had the largest PV inverter market shipments worldwide, accounting for some 29 percent of the market. Huawei was followed by Sungrow Power Supply and Ginlong Solis in the second.

Market share of the solar PV inverter market worldwide in 2022, based on shipments

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6 FAQs about [Photovoltaic inverter export profit]

Who has the largest PV inverter market shipments in 2022?

In 2022, Huawei had the largest PV inverter market shipments worldwide, accounting for some 29 percent of the market. Huawei was followed by Sungrow Power Supply and Ginlong Solis in the second and third position respectively, based on shipments. Get notified via email when this statistic is updated. * For commercial use only

How much do solar and energy storage inverters export?

The cumulative export amount of domestic solar and energy storage inverters reached $8.25 billion, marking a 39% year-on-year increase. - During the same period, the cumulative export volume of domestic solar and energy storage inverters was 40.92 million units, reflecting a 24% year-on-year increase.

What are China's solar PV exports?

In 2021, the value of China’s solar PV exports was over USD 30 billion, almost 7% of China’s trade surplus over the last five years. In addition, Chinese investments in Malaysia and Viet Nam also made these countries major exporters of PV products, accounting for around 10% and 5% respectively of their trade surpluses since 2017.

How much did energy storage inverters export in September 2023?

In September 2023, the domestic exports of energy storage inverters amounted to $650 million, marking a 33% year-on-year decrease and a 6% month-on-month decline. The number of PV and energy storage inverters exported in September stood at 3.91 million units, down by 23% compared to the previous year and 3% on a month-to-month basis.

Which inverter companies are leading the market growth in 2023?

Preferential policies promoted the inverter market growth in 2023. Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume. Sungrow and Huawei tied for first place in the list with outstanding performance.

Who are the leading manufacturers of photovoltaic inverters?

Currently, several active manufacturers have achieved verification in the American inverter market, including Megarevo, SRNE, Oxford, and more. Leading enterprises such as Siemens and Hemai have also begun to enter this market. Mexico and Brazil are emerging as hotspots in the Americas’ photovoltaic sector this year.