Fierce competition in solar inverters

Which companies are leading the inverter market?

Other enterprises, such as TBEA, Senergy, Deye and Ginlong (Solis), followed closely behind. The capital market also recognised the inverter sector when SOFAR successfully went public in April, despite the cooling new energy IPO market.

How will the global inverter market perform in 2025?

Following a challenging 2024, the global inverter market is expected to return to revenue growth, with total revenue estimated to reach just under $20 billion in 2025.

Why are hybrid inverters becoming a standard for residential solar PV systems?

With the decline in financial incentives for solar power exporting to the grid and increasing awareness of self-consumption in key residential markets including Europe, California, and Australia, hybrid inverters, which combine solar and energy storage conversion, are becoming the standard for residential solar PV systems in many markets.

Which inverter companies bucked the trend?

However, inverter companies bucked the trend, becoming the industry's brightest spot. Leading firm Sungrow achieved revenue of 77.86 billion yuan and a net profit of 11.04 billion yuan attributable to the parent company, both of which were record highs, with year-on-year growth of 7.76% and 16.92% respectively.