Maintaining Leadership in India’s C&I Rooftop Market: A Closer Look at Growatt’s MAX 150KTL3-X LV – Shiv Ram, General Manager, Sales of North India Growatt

1. What remarkable achievements did Growatt make in 2023?

In 2023, India’s installed PV capacity reached 70GW and installed rooftop capacity increased by 58% compared to 2022, according to JMK Research. Proud to be part of this milestone, Growatt also experienced an significant growth in the rooftop solar industry. We have successfully supplied all product range to various private and government rooftop projects, and became India’s third-largest inverter supplier in the first half of 2023.

Growatt has endeavored to cater to the ever-changing demand and launched innovative solutions for Indian market including MID 30-50KTL3-X2 inverter, which empowers smaller-scale businesses with greener operations. The new generation of MAX 100-125KTL3-X2 LV with larger input current capacity was also introduced in 2023. For C&I energy storage solutions, Growatt launched WIT 50-100K-HU hybrid inverter and APX Commercial Battery.   

Last year, we’d stamped our presence all over the world by holding more than 200 ShineElite Roadshows and participating in over 60 expos. We also received many awards, such as ‘Top PV Brand Awards’ from EUPD Research and ‘State Market Leader Award (Inverter)’, recognizing our product quality, and market leadership.

2. In the current lndia’s market, which factors are most likely to affect the company’s market share?

First, the government’s support for renewable energy, through subsidies, tax incentives, and mandatory usage requirements, plays a significant role in the growth of the solar market. It’s reported that India will invest $223 billion to meet its target of installing wind and solar capacity of 500 GW by 2030. Second, the cost and pricing of solar equipment are crucial factors for consumers to consider. Growatt sticks to improving production efficiency and helping our clients reduce the costs and optimizing pricing strategies to remain competitive. Finally, solar technology advancements and innovations can increase efficiency, reduce maintenance costs, and improve reliability. Growatt always stays updated on the latest technological trends and invest in research and development to maintain a technological edge.

3. What are Growatt’s unique strategies to tackle the opportunities and challenges of the Indian market?

Facing the opportunities and challenges in India’s market, our team at Growatt continuously strives to improve products and provide the best solutions for customers. With over 1100 R&D team members, we are able to actively respond to the market and technology trends. One of our notable achievements is being the first company to launch a MAX 125KTL3-X LV solution specifically designed for the rooftop projects. This breakthrough product features high efficiency and reliability, allowing clients to harness more energy from their rooftop installations. Besides, we have single and three-phase capacities ranging from 1 kW to 10 kW for residential segments and 15 kW to 125 kW for C&I segments, which demonstrates Growatt’s versatility in catering to different customer needs.

Growatt is also committed to the localization strategies, as we set up five representative sites in India, involving Hyderabad, Ahmedabad, Bangalore, Mumbai, New Delhi. Our dedicated customer support teams ensure timely sales, marketing, warehousing and technical service and support.

4. How does Growatt maintain leadership and innovation in the C&l roof market, especially after the launch of the MAX 150KTL3-X LV?

Our consistent presence in the Indian and Asian market has allowed us to maintain a strong position. The MAX 100KTL3-X LV and MAX 125KTL3-X LV systems have become the preferred choice for many EPC players in large rooftop projects. However, with the launch of our new MAX 150KTL3-X LV, we are confident that we will continue to lead the market with the best product available. Our 150 kW system not only offers better generation efficiency but also enables significant cost savings for businesses. It supports connection with large diameter aluminum cables and PLC communications. By providing a higher capacity system, we aim to meet the growing demand for renewable energy solutions in the C&I sector. It will be displayed in the coming ‘Smarter E India’ together with other products innovations and lineup. Looking forward to meeting you at Booth D115.

5. What breakthroughs do you envision that Growatt will achieve in India and South Asia in the next few years?

Our team of experts at Growatt works diligently to provide a comprehensive range of products for on-grid, energy storage and EV charging applications in residential, C&I and utility scenarios. Having been operating in the Indian market for over a decade, we recognize the strategic importance of this market. We have observed the potential and growth opportunities that India presents, making it a key focus for us in South Asia. This entails not only increasing our market share but also establishing ourselves as a trusted and reliable partner for businesses and individuals seeking grid-connected and storage solutions. Through continuous product improvement and a commitment to customer satisfaction, we are confident that Growatt will continue to thrive and succeed in the Indian and South Asian market.