Q1. How has the ‘Make in India’ initiative contributed to boosting the recognition and growth of India’s energy storage sector, especially in the context of Sungrow’s 5-year manufacturing journey as a provider of solar inverters and energy storage systems?
Ans: Sungrow’s achievement of completing 5 years of Indian manufacturing underscores the positive impact of their participation in the “Make in India” initiative. This participation has not only fueled their own growth but has also played a significant role in advancing India’s broader renewable energy and energy storage goals. By manufacturing solar inverters locally, Sungrow has been able to address the specific requirements of the Indian market more effectively and contribute to the nation’s transition to clean and sustainable energy sources. The expansion of domestic manufacturing has created job opportunities within the energy storage sector, benefiting the local workforce and fostering economic development. Furthermore, domestic manufacturing has provided the flexibility to customize products to suit local needs and conditions. As India seeks to expand its renewable energy capacity, having a robust domestic manufacturing base for energy storage systems remains crucial.
Q2. What can we expect Sungrow to unveil in terms of product launches for the Indian market during REI Expo 2023?
Ans: REI Expo has consistently been a leading platform in India, and Sungrow is poised to introduce our latest innovative products to the Indian market. We are particularly thrilled to unveil our new residential on-grid and hybrid solutions. We eagerly look forward to showcasing these pioneering products at REI Expo 2023 and engaging in in-depth discussions with industry experts. We remain confident that Sungrow’s dedication to delivering clean energy solutions will continue to play a central role in promoting the widespread adoption of renewable energy technologies throughout India.
Q3. How crucial is research and development (R&D) in the realm of solar inverter manufacturing, and what efforts has Sungrow undertaken to promote R&D in this field?
Ans: Founded in 1997 under the visionary leadership of University Professor Cao Renxian, Sungrow has firmly solidified its position as a global leader in the solar inverter field. Our journey has been marked by our unwavering dedication to research and development, and we take pride in having the industry’s largest dedicated R&D team. Our diverse product portfolio encompasses PV inverter solutions and energy storage systems, serving utility-scale, commercial & industrial, and residential applications. Furthermore, we have gained international recognition for our innovative floating PV plant solutions and a range of other clean energy solutions.
With an impressive 25-year track record in the PV industry, Sungrow’s products currently drive installations in over 150 countries. Our commitment to innovation is exemplified by our dynamic technical R&D team, comprising more than 2600 skilled professionals. Additionally, our dedication to quality and reliability is evident through our state-of-the-art in-house testing center, which holds certifications from esteemed certifying bodies like SGS, CSA, and TÜV Rheinland.
Q4. Could you provide insights into Sungrow’s current market presence and its strategies for expansion?
Ans: Sungrow has been actively engaged in India’s burgeoning solar energy sector, aligning with the nation’s ambitious renewable energy objectives. The global solar energy sector witnessed remarkable growth in 2022, with over 268 GW of installations, underscoring the cost-effectiveness and environmental advantages of solar power. Projections for 2023 indicate sustained expansion, with the global market expected to surpass 315 GW, while in India, it is poised to exceed 15 GW. Sungrow stands prepared and well-equipped to provide the latest technology solutions for the PV industry, boasting an extensive and appealing portfolio tailored for both utility-scale and commercial & industrial, as well as residential applications. It’s noteworthy that Sungrow, within the renewable energy sector, remains agile and responsive to evolving global standards and market dynamics.
Q5. Sungrow recently achieved certification according to the European standard EN 50549-10. Can you describe the company’s approach to meeting global standards and ensuring the quality of its products for the international market?
Ans: To align with global standards, companies like Sungrow diligently monitor and adhere to industry-specific regulations and certifications, including IEC (International Electrotechnical Commission) standards, UL (Underwriters Laboratories) standards, and regional certifications like EN standards in Europe. Sungrow recently achieved the European standard EN 50549-10 certification from TÜV Rheinland, marking a significant milestone as the first certification for MW-grade high-power energy storage systems (ESS) compatibility in the energy storage industry. This certification serves as a testament to the outstanding adaptability and reliability of Sungrow’s ESS, solidifying the company’s leading position in grid-connection technology. The continued success of Sungrow’s products is further underscored by its four-year streak as the most bankable inverter brand in the BloombergNEF (BNEF) PV Module and Inverter Bankability Survey. Notably, Sungrow is the sole inverter supplier to achieve a “100% bankable” ranking this year.
Q6. Sungrow is renowned for aligning its products with technological advancements. Could you please spotlight some of the new technologies that the company has integrated into its offerings?
Ans: Sungrow is indeed renowned for its commitment to integrating cutting-edge technologies into its products, maintaining a prominent position in the solar inverter and energy storage industry. One of its most groundbreaking innovations, introduced last year under the name “1+X modular inverter,” continues to receive widespread acclaim. This innovative solution effectively combines the efficiency benefits of string and central inverters, optimizing operational expenditures (OPEX) exceptionally well, particularly within the 8.8 MW range and below.
Looking ahead, Sungrow remains steadfast in its mission of “Clean power for all.” The company will accelerate the development of clean energy power generation system integration, leveraging its expertise in new energy equipment. It also aims to foster innovation and expand its presence in the realm of clean power conversion technology. By maintaining close engagement with customers, actively participating in global competition, and striving for excellence, Sungrow is committed to establishing itself as a respected world-class company.
Q7. In your view, how does technology play a pivotal role in transforming the energy storage sector, and what sorts of market trends do you anticipate in the near future?
Ans: Technology plays a pivotal role in driving transformative changes within the energy storage sector. Advanced battery technologies, such as LFP, are gaining substantial traction in India’s energy storage landscape. These technologies offer heightened energy density, extended cycle life, and rapid response capabilities, rendering them well-suited for a diverse range of applications, including grid stabilization and the seamless integration of renewable energy sources. Energy storage technologies assume a critical role in mitigating the inherent variability of renewable sources like solar and wind. Battery storage systems excel in capturing surplus energy during periods of high generation and releasing it during peak demand, enhancing grid reliability. The growth of the energy storage market in India hinges significantly on government initiatives and the imperative for grid stability. As technology continues to advance and economies of scale come into play, the cost of energy storage systems, particularly batteries, is expected to decrease consistently. This trend will make these solutions more accessible and cost-effective. Moreover, energy storage systems are poised to provide essential grid ancillary services, encompassing frequency regulation, voltage support, and swift responses to grid events, further elevating grid reliability. The surge in electric vehicle (EV) sales in India is anticipated to further drive the demand for energy storage solutions.