1. How many Inverters have you supplied to India till now, what is the target/expectation for this year and next year?
GoodWe started its inverter business in India in 2015 has been recently recognized as the No.1 Rooftop Solar Inverter supplier in India with a 17% market share for the year 2020. The results were confirmed by JMK Research & Analytics. After years of continuous research and strategic deployment, GoodWe now boasts the industry’s most comprehensive residential, C&I and utility scale solar inverter solutions, with a wide range of products from 1kW to 250kW Solutions. We have been fortunate to work for major clients in India like Tata, Sterling & Wilson, Bosch, Fourth Partner, Prozeal Infra, Microtech Engineers, Atria Power. In India, GoodWe has a cumulative installation base of around 1GW which not only defines the vision of GoodWe’s management for the India Solar market but also the valued deployment of support extended towards customers. GoodWe’s solar inverter solution expertise and dedicated after sales support leads to customer satisfaction and well maintained relationship with our esteemed customers.
2. What are your views on BIS and other tariff barriers?
GoodWe was recently in touch with Mr. B S Negi (Scientist G, MNRE), where a detailed discussion over various challenges and advantages of getting BIS registration was discussed. GoodWe takes pride in being a solar inverter manufacturer, having all solar inverters available for the Indian solar market been awarded a BIS certificate.
India is one of the biggest solar markets globally and having huge potentials brings a lot of challenges to solar power plant safety and assurance of power generation. BIS certification is a recommended certification and well praised step by the government of India considering various factors defining quality product implementation in solar power systems. GoodWe highly appreciates such major steps to enhance safety and quality control assurance for its esteemed clients. Ministry of New and Renewable Energy (MNRE) had issued the guidelines for the series approval of solar PV inverters for conducting testing in test labs for the implementation of Quality Control Solar Photovoltaics Systems, Devices and Component Goods Order 2017, which facilitate solar inverter manufacturers to approve the solar inverter product family up to 150kW including change in design and materials for the solar inverters for their compulsory registration with BIS, for implementation of the solar photovoltaic systems in India.
3. What according to you is the current opportunities and biggest challenges in the Indian Solar Market?
India Solar Market has witnessed reduced bid prices recently in SECI’s Rajasthan 1070MW tender and GUVNL’s 500MW tender, where prices have gone as low as Rs2/kWh. India, having huge market potential globally, has a whole lot of opportunities for solar plant implementations for all sectors of the solar Industry –Residential, C&I and Utility scale projects. A combination of high potential market-Quality assurance of BoS – competitive pricing strategy, itself is a big challenge of an entire industry.
Though the recent price trend has signified India’s solar market to be a very price competitive market, quality of material after sales support and delivery timelines also plays a vital role in projects. So, major big players having a huge reputation in the market go with such BoS suppliers which not only provide assurance of quality in their products along with competitive price but also suffice the timely need of solar installation deadlines and a strategic approach of service support.
This makes GoodWe a preferable solar inverter supplier for the Indian solar market. The performance of the inverters along with an extension of dedicated service support leads to the high satisfaction level of customers like Tata, Sterling & Wilson, Bosch, Fourth Partner, Prozeal Infra, Microtech Engineers, Atria Power, Toyota, Coca Cola, Siemens and various other renowned companies, who witnessed the high performing inverters at their installed sites providing high power generation and peace of mind for the power developers.
4. What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues and shipments for India?
Though 2020 was a tough year for the entire globe but brought some good moments for Goodwe as a company. Within 2020, GoodWe was enlisted in stocks with a financial value evaluation of 2.4 Million US Dollars, which made it even huge with public offerings. GoodWe is a stable, bankable and sustainable company with a sound financial management strategy. We have achieved good results in a relatively short time and we are confident about the company’s future growth trajectory.
In 2020, GoodWe launched its 1500V 250kW solar string Inverter for utility scale projects with one of its kind Online-Offline Product launch event. GoodWe’s HT series 250kW product claimed a huge success after its launch by enhancing the company’s reputation and demand among the Indian solar industry customers. The product has enhanced features of safety and O&M capabilities well appreciated by the customers.
2020 proved to be a fantastic year for GoodWe as we also take pride in being recognized as No#1 Solar inverter supplier in India, confirmed by JMK Research & Analytics in their yearly report CY2020.
5. Present some noteworthy projects, case studies of solar plants built using your solar Inverters.
GoodWe MT and HT series are the preferred choices of customers belong while considering inverters for C&I level and Utility scale projects. The regular trust of customers on GoodWe products has lead GoodWe to achieve around 1GW of installation base in India while a total of more than 20GW installed in more than 80 countries across the globe. The inverters have been deployed on the premises of Global Top 500 Companies, like TATA, Bosch, Siemens, Toyota, Coca Cola and other renowned companies worldwide, thanks to its comprehensive portfolio, superior quality and unparalleled service. GoodWe is committed to contributing to the development of PV technology and its recent IPO is a key event that is going to accelerate that process.