What are focus market in APAC? How do u see growth of the inverter market in coming year?
Prior to discussing Sineng’s focus market, it is worth first mentioning the state of the play of current and forthcoming market. The Asia Pacific region saw significant growth in its contribution to renewable energy (RNEs), thanks in no small part of China, India and Vietnam’s meteoric rise. Asia Pacific (APAC), led by China, is predicted by IHS and other data powerhouses to remain the largest regional market of PV installation in the future. Though it is being predicted that the position of India will be replaced by USA, but it will still punch well above its weight in the world market share. The biggest growth market in Asia will be Vietnam, expiration of FiT in Vietnam has caused a boom that will led to a projected market. While the top three countries are no surprise, there are some interesting players rounding out in 2019. The “Rest of APAC” region -Philippines, Thailand, Malaysia, South Korea, Australia, Taiwan, Japan and others is being driven by strong growth in utility-scale (>5 MW) installations. Japan continues its upward slide in the global rankings, despite having limited availability of land for ground mount plants. Sineng’s has intensified its focus on global markets and international expansion with exports expected to grow exponentially. The company focus on already owned large market share APAC regions like-China, India and Vietnam will remain same, on the other hand, it will extent it focus on other regions.
What are the technological innovations that we will witness in the coming years?
As the PV system brain, inverters have a significant impact on LCOE, the industry is now competing against itself in order to provide more advanced and efficient solutions. As the functionality of inverters is expanded, Sineng inverters are simultaneously shifting towards digitization. In coming years, we could witness innovation in three sectors in utility scale solar application-1500 V plus system, smart energy storage solutions (ESS) and intelligent cloud and data mining. Higher system voltage will allow for fewer combiner boxes, less wiring and trenching, and therefore less labour, reducing capex and opex for lower levelized cost of energy (LCOE) and improved return on investment. Energy storage solution + PV is appearing like a must and demand for smart PV plant for abandonment of light and grid support, consequently, sophisticated ESS with much more functionalities could be witnessed. Instigation and Innovation in data mining and cloud computing in PV sector will be intensified to make O & M and control and monitoring affordable and easy.
What are the major projects Sineng has worked on in the APAC region?
GWs and MWs projects have been installed and commissioned by Sineng over these 5 years in APAC regions. There are many on-going projects which will be installed and commissioned in the coming years. Our partners are Shapoorji Pallonji, L&T Construction Limited, Sprng Energy, Azure Power, Tata Power, B.Grimm Power, Super Energy, Bamboo Capital and some other renowned EPCs and independent developers.
How do you see inverters evolving in the coming years in the APAC region? How is Sineng coping up with this ever evolving market and technology?
Being a product-focused company, Sineng’s always looks at its offerings and strives to improve. As sineng strategy of the business revolves around differentiation tied to product superiority, so there is a zeal in us to make products and service betters. In spite of relentless cost pressures and the inevitable rolling back of subsidy support mechanisms in most markets, the inverter market has been witnessing an eventful period. Strong competition of Chinese suppliers in internationalizing has increased price competition. As world always follow money and security, we believe we can cope up with the evolving market by holding on our mission “High quality is low cost”.