19 August 2022 - SOFARSOLAR has joined the top 5 global hybrid inverter suppliers in 2021, with a global market share of over 7% according to Wood Mackenzie, the world's leading authority on energy research. The data was published in its report "Global solar PV inverter and module-level power electronics (MLPE) market share 2022".
Storing energy for a green future
Energy storage is increasingly important in solar installations across the world and now plays a key role in securing a green future. With strong expertise in both PV and energy storage, SOFARSOLAR launched its first energy storage inverter in 2016 and has grown into one of the world’s leading energy storage solution provider ever since. In 2021, SOFARSOLAR shipments of its residential hybrid inverters exceeded 66,000 units—an increase of more than 450% from 2020. One of SOFARSOLAR's main competitive advantages is its strong focus on technology innovation and services in an increasingly fierce market competition. The company maintains its rapid growth in 2022, further consolidating its market position as an industry leader in the energy storage sector.
Over the years, SOFARSOLAR has continuously strengthened its R&D capabilities. This lead to SOFARSOLAR introducing the industry’s first three-phase 20 kW hybrid inverter in 2020, which still is the most powerful energy storage system in the residential sector. In April 2022, the company launched its SOFAR PowerAll, an all-in-one household energy storage system that has integrated both an inverter and lithium-ion batteries. The built-in Power Control Unit (PCU) reduces the capacity mismatch between different battery modules and automatically balances those modules’ capacities based on the SOC of the batteries. Additionally, the fully modular and stacked design allows for a flexible configuration and phased expansion, in turn leading to a higher return on investment.
Leader of digital energy solutions
“SOFARSOLAR offers a wide range of energy storage products and solutions, including single-phase and three-phase, DC-coupled and AC-coupled energy storage inverters, as well as high-voltage and low-voltage energy storage batteries”, said Guy Rong, Vice President of SOFARSOLAR. "In the future, SOFARSOLAR will continue to reinforce its commitment to be the leader of digital energy solutions by enhancing technological innovation, developing smart service networks and providing high-quality products to our clients worldwide," he added.
SOFARSOLAR is a global leading supplier of solar PV and energy storage solutions. Its comprehensive portfolio includes PV inverters with a power range from 1 kW to 255 kW, hybrid inverters range from 3 kW to 20 kW, battery storage systems and smart energy management solutions for residential, commercial & industrial, and utility-scale applications. SOFARSOLAR has always focused on independent innovation, and now features a global R&D network consisting of three R&D centers, with over 30% of the company’s workforce assigned to R&D. As the world's fastest-growing solar energy brand, SOFARSOLAR’s compound annual growth rate reached 86% in 2019–2021 and its annual production capacity reached 10 GW for PV & storage inverters and 1 GWh for batteries in 2021. By the end of 2021, SOFARSOLAR had shipped over 1 million inverters to more than 90 countries.