Chinese inverter manufacturer Hoymiles has started commercial operations at its first overseas factory, a manufacturing facility in Monterrey, Mexico.
The facility will produce the company’s microinverters, including the HMS-2000-4T and HMS-2000DW-4T series, for use in residential and commercial solar applications. The company noted that the project will have an annual production capacity of 500,000 units, and expects to expand this capacity to one million units, although it did not give a timeframe for this expansion.
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“The Monterrey facility is a significant milestone and demonstrates our commitment to supporting renewable energy transitions in North and Latin America,” said Hoymiles CEO Dr Yang Bo. “This factory will be crucial in meeting the region’s growing needs for solar and energy storage solutions.”
The news is a notable milestone for the company, as this facility is its first manufacturing plant outside of China. Prior to the commissioning of the Monterrey factory, Hoymiles had an annual production capacity of two million units, so the addition of microinverters from the Mexico plant will be a significant addition to its global footprint.
With the world’s solar capacity growing rapidly—figures from Ember Climate suggest the world could add 593GW of new capacity this year—demand for technologies, such as inverters, is set to rise. Figures from Wood Mackenzie show that the world’s solar inverter shipments increased by 56% between 2022 and 2023, and much of the world’s inverter manufacturing capacity is concentrated in a small number of Chinese majors, with the top ten inverter manufacturers accounting for 81% of the global market.
However, this is not to say that there is not considerable investment in the inverter industry beyond these few leading companies. Earlier this year, Spanish inverter manufacturer Ingeteam announced a deal to supply 1GW of its inverters to compatriot renewable energy developer Acciona Energía for three solar projects in the US.
