Solar inverters for photovoltaic panels have hit record shipments in the third quarter of this year, growing 50 percent to reach 7.3 GW. It’s an increase on the previous quarter’s shipments at five GW.
The EMEA region proved strong yet again, accounting for 80 percent of all inverter shipments in the quarter. However, the market share is down from 90 percent the previous quarter with the Americas market eating into the shipment share, which is thought to have doubled year on year, according to IMS Research.
All regions enjoyed substantial growth for inverters with a recorded total revenue of $2 billion worldwide for the quarter. Factory-gate inverter prices have fallen, says IMS, thanks to the trend toward large inverters that have lower price per Watt.
Satcon outperformed other inverter manufacturers, which according to IMS increased shipments but saw divided overall market share. SMA still dominates the market, with a record quarter, but still lost market share.
It’s further proof that while PV panels and inverters are an excellent resource for clean energy, there’s a competitive market and it remains a massively profitable industry.