Solis Have Already Established Itself As Technology Driven Innovative Product And Solutions Provider, Honey Raza, Head of Sales, Solis India

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Please tell our readers about Solis’s standard testing measures.

Solis’s vertical-integrated manufacturing for reliability, 100% of inverters produced are duration-tested before shipment to reduce failures during installation.

Solis managed every aspect of manufacturing with state-of-the-art automation, fastidious inspections and rigorous testing, ensuring industry-leading quality and reliability. Solis’s in-house Surface mount technology circuit board production is unique in the industry, guaranteeing quality and streamlining product innovation in response to customer needs.

Solis’s reliability testing includes but is not limited to the following methods

  • Low air density testing
  • Input voltage shock testing
  • UV testing
  • Salt spaying testing
  • Confined space testing
  • Dusting testing
  • Rainfall test in high temperature
  • Extreme thermal shock testing ( 1500 cycles, -40 ℃ to 70 ℃)
  • Ice testing
  • Extreme site testing (High salty area, dessert, high altitude, rainforest)  

Because of our strict reliability testing methods, we have been recognized by many third-party testing agencies and passed various certifications of professional testing , such as CE , IEC62109-1/-2, VDE0126-1-1/A1,  VDE N4105, EN50438,  G83/2, IEC62116, IEC61727,G59/3, AS3100, AS4777.2/.3, C-Tick, UL1741, UL1998, UL1699B, IEEE1547, CAN/CSA C22.2 107.1-1, FCC And etc.

What are the upcoming product lines that Solis is going to come up with?

According to the new Energy Outlook data of Bloomberg New Energy Finance in 2019, the global energy storage will see the first round of rapid growth from 2020 to 2025, and the CAGR will reach 39% from 2020 to 2025. After a brief decline in 2026, the energy storage will continue to grow. Starting from 2030, the installed capacity of new energy storage will keep above 30GW per year.

Following the global photovoltaic development trend, Solis will focus on the development of energy storage products in the future, such as energy storage all-in-one inverter, off-grid energy storage inverter, etc.

Let me share with you the latest research, Solis will unveil the mystery of off-grid energy storage inverter during REI. Please wait patiently

How do you think the solar inverter business will be impacted post-covid?

Solar industry has almost recovered from the pandemic. I am sure with the time this shall result in better project executions, employment generations and support for the economic recovery on India. We shall see more conglomerates entering into this space. New tenders of rooftop are promoting MSME to gain good projects and services. Utility scale bidding shall also be closing more than 30GW this year with the execution cycle of late 2021 – early 2022.

What are the new technological innovations that Solis is planning to introduce to the Indian Market?

Established in 2005, Ginlong Technologies (Stock Code: 300763.SZ) is one of the most experienced and largest manufacturers of PV string inverters. Presented under the Solis brand, the company’s portfolio consists of innovative string inverter technology with first-class proven reliability in the field and 3rd-party validation. Armed with a global supply chain, world-class R&D and manufacturing capabilities, Solis optimizes its inverters for each regional market, servicing and supporting its customers with its team of local experts.

Solis have already established itself as technology driven innovative product and solutions provider. Our latest offering includes the products for grid-connected inverter, energy storage inverter, and intelligent energy. In the state of arts storage – energy storage inverter, customized export control devices, AFCI protection, data logging accessories, cloud monitoring for instantaneous generation data & automatic firmware updating facility. In grid-connected space we have string inverter of 80-136K series with unique features of string level monitoring and IV curve scanning, AFCI protection and DC as well as AC isolators as optional are available. Another important thing related to the C&I is the wide range of capacity ratings which Solis is a better advantage. Solis has head started by introducing world’s biggest string inverter of 255kW capacity, this inverter have all the latest features from series of protection to AI based communication options. Indian tenders recently had multiple energy storage linked grid-connected where our upcoming offering shall benefit developers with better ROI and lower LCOE.

How has the 2020 fiscal year been? How do you expect the next fiscal year to be? 

Solis’s financial report shows that its revenue in the first three quarters of 2020 was US$202 million, a year-on-year increase of 74%. Net profit attributable to the parent company was US$31.4 million, a year-on-year increase of 189 %, and a month-on-month increase of 53%. Both revenue and profit growth exceeded market expectations. The company’s basic earnings per share was US$0.1, a year-on-year increase of 106%, and the weighted average return on equity was 9%, a year-on-year increase of 3%.

At present, Solis expects that it will raise over $100M USD. Work has started to build the second production base, which is mainly used for the construction of fixed-increasing projects with an annual output capacity of 400,000 inverters (including 300,000 string grid-connected inverters, and 100,000 energy storage inverters). The company’s current product line covers all inverters from 0.7kW to 255kW. If the average power of each inverter reaches 40kW, after the completion of the new facility, the total production capacity of g Solis will exceed 20GW. Through the implementation of this plan, its string inverter production scale and market share are expected to further expand. In addition, the company has launched inverter Solis-255K-EHV, suitable for ground mount PV Power stations and it is expected that its overall market share of PV inverters will increase.

Although sales are expanding, Solis’ fees have not exceeded sales growth. Because of its R&D needs, the company is still investing in the development of innovative products. The R&D expenses in the first three quarters of 2020 showed a year-on-year increase of 118%.

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