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International authoritative research institution IHS Markit (part of S&P Global) announces the top 10 global solar inverter shipments for 2021 with Ginlong (Solis) taking the No.3 position.
According to the research, Solis not only leads the distributed inverter shipments in relevant regions around the world, but also for the first time ranks top 10 in the global shipments of utility power stations. According to TF Securities, in the bidding of utility power stations of central/state-owned enterprises in China, string inverters accounted for as much as 81% in 2021. Globally, string inverters accounted for more than 70% of utility scale projects – 10% higher than 2020. The share of string inverters for utility scale projects globally has been as high as 80%-90% in Poland, Germany, Vietnam, Thailand and many more.
String inverter technology has gradually narrowed the cost gap to centralized inverters, accelerating the penetration into the utility power station sector. Other factors such as its wider MPPT working voltage range, simpler maintenance, large-scale power of a single inverter etc. have also helped drive this growth.
Ginlong (Solis) was the first publicly owned and stock listed company with a primary focus on solar string inverters. During 2021, facing multiple challenges such as the spread of COVID-19, increasing supply chain costs and the shortage of IGBT’s, the company maintained rapid development. Operating revenue in 2021 reached 512.90 million USD, up 58.92% YoY and net profit increased to 73.36 million USD. Q1 2022 sees growth of 48.96% v’s the same period the previous year with sales exceeding 173 billion USD, a new record high!
The move towards carbon neutrality is being super charged by the unprecedented increase in global energy prices. 2022 is showing a continued upward trend in the demand for solar PV especially in the European market, where the forecasted installed capacity is constantly revised up. The compound growth rate of installed capacity in Europe is expected to increase by more than 40% from 2022 to 2025.
The energy storage market is also gradually maturing, costs continue to decline and the growth of storage across all major sectors is beginning to show. Solis has increased its own manufacturing capacity to easily adapt to this growth and the shift towards energy storage products. The newly built automated and highly digitalized factory has a capacity of 40GW+.
Solis is committed to a global vision built on product-centered engineering, developing the global strategic pathway of “Ginlong” and “Solis” independent brands. As markets develop there will always be a focus on strengthening the localized sales network, technical support and after-sales service. The company’s mission of “Developing technology to power the world with clean energy” underpins this.