We serching for 9 brands in the last 3 years annual report of China solar inverter brands, Deye inverter over Hoymiles in 2023 became the No.1 company gross profit in china solar inverter companies:
| Company | 2023 Annual Report | 2022 Annual Report | 2021 Annual Report | 3-Year Average |
|---|---|---|---|---|
| Deye | 5.233 | 4.818 | 3.719 | 4.590 |
| Hoymiles | 5.032 | 4.982 | 5.431 | 5.148 |
| Enphase | 4.620 | 4.181 | 4.082 | 4.294 |
| Sungrow | 3.793 | 3.322 | 3.380 | 3.498 |
| Yuneng | 3.613 | 3.828 | 3.687 | 3.709 |
| Hopewind | 3.324 | 2.573 | 3.272 | 3.056 |
| Goodwe | 2.943 | 2.989 | 3.115 | 3.016 |
| SEDG | 2.365 | 2.716 | 3.204 | 2.762 |
| Solis | 2.163 | 2.743 | 2.535 | 2.48 |
Solar industry going to depression but extraordinary Inverter
The photovoltaic industry is undergoing a major reshuffle, with primary materials, auxiliary materials, and equipment companies being affected to varying degrees.
The news of China solar industry still annouce with suspension of work and production frequently, there is an apparently extraordinary phenomenon:
China Solar Inverters companies have almost become the only segment that has not been impacted.
What the reason make China Solar Inverter different?
Market Dynamics:
The demand and growth prospects for inverters hinge on the construction of new power plants, rather than the production capacities of photovoltaic (PV) primary materials. Simply put, as the number of PV power plants increases, so does the need for inverters.
This principle extends to PV mounting systems, where in some cases, prices per watt exceed those of PV modules in the European market.
Lifecycle Considerations:
Inverters have significantly shorter lifespans compared to PV modules. Most string, storage, and hybrid inverters typically last around 5-10 years, while microinverters can last between 15 to 25 years.
In contrast, PV modules are designed to operate for over 30 years. This shorter lifespan necessitates more frequent updates and replacements of inverters, thereby maintaining a high demand for new units.
Economic Impact:
The scale of investment and per-unit intensity required for inverter production is lower compared to PV primary materials. Major multi-billion-dollar projects are uncommon in the inverter sector, limiting its direct impact on regional GDP growth.
This has been a strategic advantage, as inverters have avoided becoming focal points in government-led industrial investment competitions.
Notably, there is minimal direct investment by local state-owned enterprises into inverter production, which has contributed positively to the industry’s stability.
Technical Challenges:
Entry into the inverter industry poses challenges beyond financial investment alone. Despite a lower initial investment threshold, significant barriers exist in technology adoption, supply chain management, regulatory compliance, and market penetration.
Why Deye Got the Honor?
For these China solar inverter brands, they are all good in both of quality and Cost-effectiveness; Therefore, we think how to make inverter products which fit with the needs of customer will be the key to standout
Deye put the end-user’s requirement to the top position:
For example, most users in the Europe solar market, they need 3-phase inverter, but their battery is only 51.2V Low-voltage battery, but the main solar inverter need higher voltage suchas 180V or so for their hybrid inverter
Deye was the first one to public the celebrity inverter as hybrid low-voltage 3-phase inverter since 2021 from 5KW-12KW, and now the newest version is coming as 14-20KW hybrid low-voltage 3-phase inverter
In our view, if they considered end-customer’s needs in the first position and step first than other competitors, who will get the biggest fruit!