Omnik Solar, once a prominent name in the solar photovoltaic industry, held a commanding 40% market share in the Netherlands. Today, it stands as a tale of liquidation and bankruptcy. The company’s official website, https://www.omnik-solar.com/, now serves an unexpected purpose—it has transformed into a gambling site.
The Legacy of Omnik Solar:
In the annals of China’s string inverter industry, Omnik Solar stands out as a trailblazer. Founded by the returnee entrepreneur Zhao Lei in March 2011, the company quickly made a name for itself with its adherence to the “German system”. Zhao Lei, a graduate in Electrical Engineering with a specialization in power electronics from the Technical University of Munich, brought a wealth of experience and innovation to Omnik Solar. Prior to this venture, he had founded Suzhou Aisuo in 2009, which thrived during Europe’s solar market boom.
Focus on String Inverters and Microinverters:
Omnik Solar, under Zhao Lei’s visionary leadership, carved a niche for itself in the realm of string inverters and microinverters. The company steered clear of large-scale centralized inverters, emphasizing precision engineering and German manufacturing standards. By 2015, Omnik Solar had penetrated international markets, spreading its products across the UK, Germany, Italy, Belgium, Luxembourg, and capturing a dominant share of over 40% in the Dutch market.
The Industry Shift and Domestic Focus:
In the evolving landscape of China’s solar industry, companies like Omnik Solar, Goodwe, Growatt, and Sanyi Electric initially targeted foreign markets due to the nascent state of the domestic distributed market. However, as policies shifted towards the distributed market from 2014 onwards, Omnik Solar and its counterparts pivoted towards the burgeoning domestic landscape.
The Departure of Zhao Lei and Omnik Solar’s Decline:
The departure of the visionary Zhao Lei in 2018 marked a turning point for Omnik Solar. Subsequently, the company witnessed a shift in leadership, with Yu Changjiu taking the helm. This transition seemed to accelerate Omnik Solar’s downward spiral. By 2019, the company found itself grappling with a series of debt crises, leading to delayed payments to employees and suppliers, even as its sales remained steady.
Legal Battles and Industry Turmoil:
From May 2018 to 2020, Omnik Solar found itself embroiled in a staggering 60 legal disputes, as indicated by corporate information platforms. The solar industry, particularly sensitive in 2018, faced a sudden regulatory shift that put a brake on its rapid growth. The limitation of distributed solar to 10GW dealt a severe blow to companies like Omnik Solar, heavily invested in the household solar market.
Overseas Markets and Intensified Competition:
Omnik Solar’s once-proud overseas markets faced challenges due to sluggish after-sales services, leading to a surge in customer complaints. Meanwhile, rising players like Ginlong, Goodwe, and Growatt intensified the competition, vying for a share of the market previously dominated by Omnik Solar.
The Industry Landscape and Emerging Giants:
The demise of Omnik Solar serves as a poignant reflection of the solar inverter industry’s tumultuous journey. From 400 players in 2010 to just over 20 active companies today, the industry witnessed a ruthless reshuffle over the past decade. Leading companies are now doubling down on segmented markets, with Huawei, Sungrow, and Sineng Electric dominating the ground station sector.
The Future of Solar Industry:
As the industry navigates through waves of change, the question remains—who will emerge as the ultimate “watchman” of the industry? With giants like Huawei and Sungrow entering the fray, the battle for supremacy is poised to intensify.
Key Players in the Market:
- Full-range Inverters: Deye, Sungrow, Sineng Electric, XD-EGEMAC, Kstar, Kehua Hengsheng, HeWang, and more.
- String Inverters: Huawei, Ginlong, Goodwe, Growatt, Sanyi Electric, Envertech, Sungrow Power Supply, Shuailing New Energy, Aiswei, Shengnengjie, Hemei, Yuneng Technology, and others.
This post on the website reflects on the journey of Omnik Solar, once a leader in the solar industry, and delves into the broader shifts and challenges within the solar inverter market.