Sungrow Power Supply reported more than a doubling of PV inverter sales and shipments in 2013, supported by its first move advantage and leadership position in the rapidly growing Chinese market.
The China-based PV inverter manufacturer reported PV related sales of approximately US$466.9 million in 2013, compared to sales of US$226.8 million in 2012.
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Domestic PV inverter related sales reached 3.5GW in 2013, a 178% increase from 1.25GW in the previous year. Overseas sales also increased considerably, year-on-year, reaching 293MW in 2013, up from 134MW in 2012, a 119% increase.
Sungrow noted in its 2013 annual report that its PV inverter products continued to dominate the Chinese domestic market, which has primarily been ground mount utility-scale in the last two years. The company also noted that its market share of the PV power plant system integration business in the country had also developed rapidly.
The company has been successful in partnering on PV projects with China Three Gorges New Energy Company and with SUMEC New Energy, amongst others.
It played a lead role in establishing China’s grid-tied PV inverter technical requirements and test methods that were approved earlier last year.
According to NPD Solarbuzz, China installed around 11.4GW in 2013 and the Chinese government quotas for ground mount and distributed installations eligible to receive FiT payments has been set at 14GW in 2014.
To meet both domestic and overseas demand, Sungrow increased PV inverter production from approximately 1.5GW in 2012 to 5GW in 2013.
The company has also launched a new PV central inverter (SG500MX-M) for the Chinese utility-scale market specifically meeting the latest domestic GB / T 19964-2012 national standards for grid-tied inverters.