Top 5 household PCS manufacturers in China in 2022

As an important support for energy storage systems, PCS will perform well in H1 in 2022 as energy storage enters a high boom stage. Especially when the conflict between Russia and Ukraine exacerbates energy shortage and multi-layer factors such as high electricity prices in Europe, home energy storage has become the mainstream track, and the shipment of household PCS has increased. This article has sorted out the top 5 household PCS manufacturers in China, and household PCS have entered a blue ocean period of development.

Top 5 household PCS manufacturers

① SUNGROW

Company profile:

One of top 10 inverter battery best companies Sungrow is the world’s most bankable inverter brand with over 269 GW installed worldwide as of June 2022. Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions, NEV driving solutions, EV charging solutions and renewable hydrogen production systems. With a strong 25-year track record in the PV space, Sungrow products power over 150 countries worldwide.

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One of top 5 household PCS manufacturers Sungrow achieved revenue of 12.281 billion RMB in the first half of 2022, an increase of 49.59%; net profit attributable to the parent was 900 million RMB an increase of 18.95%. In H1 2022, its energy storage system business will achieve revenue of 2.386 billion RMB, an increase of 159.33%, and shipments will be about 2gwh, with a market share of about 11%, of which about 15,000 household energy storage systems will be shipped.

The gross profit margin in the first half of 2022 is 18.37%. As one of the earliest companies involved in the energy storage field in China, Sungrow's energy storage system business covers China, the United States, the United Kingdom, Germany, Japan and other countries and regions, and its energy storage system shipments and PCS have ranked first among Chinese companies for six consecutive years.

② GINlONG

Company profile:

Ginlong is one of most experienced and largest manufacturers of solar inverters. Ginlong's cost-effective solutions for residential, commercial, and utility-scale users deliver value at every level of the solar supply chain, engaging both homeowners and businesses, as well as power producers and renewable energy investors across the globe. Presented under the Solis brand, the company's solar inverter product line uses innovative string technology to deliver first-class reliability, validated under the most stringent international certifications.

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In the first half of 2022, Ginlong achieved operating income of 2.441 billion RMB, a year-on-year increase of 67.96%; net profit attributable to the parent was 398 million RMB, a year-on-year increase of 67.21%. Among them, PCS will achieve operating income of 298 million RMB in H1 in 2022, accounting for 12.21% of operating income, a year-on-year increase of 348.72%.

Ginlong as a manufacturer of top 5 household PCS manufacturers shipped about 50,000 energy storage inverters in the first half of the year, exceeding the total shipments in 21 years. At present, Ginlong is deeply engaged in the fields of energy storage and household photovoltaics. In the second half of the year, Ginlong will benefit from the rapid increase in global demand and further breakthroughs in production capacity.

③ DEYE

Company profile:

Ningbo Deye Technology is a large-scale manufacturing technology enterprise integrating R&D, design, production, sales and services. Currently, it has four core industrial chains: the solar inverter system, the frequency conversion control system, the environmental electrical appliance series and heat exchanger series. So far, Deye has realized a layout for its diversified development drawing on the dual-core drives of its independent brand and supporting products.

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In top 5 household PCS manufacturers in China, Deye is mainly engaged in the research and development, production and sales of heat exchanger products, frequency conversion control chips, circuit control products such as photovoltaic inverters, and environmental electrical products such as dehumidifiers and air source heat pumps. But now Deye has formed a product matrix of energy storage, micro grid-connected and string grid-connected inverters, and can provide residential, small industrial and commercial photovoltaic energy storage inverter solutions.

Deye's inverter business has developed rapidly and has become the company's largest business segment. Among them, in the first half of this year, the company sold a total of 393,400 inverters, and achieved operating income of 1.149 billion RMB, an increase of 198.42% over the same period of the previous year, accounting for 48.91% of the company's total operating income, rising to become the company's largest business segment.

With the high prosperity of the household energy storage track, Deye PCS has added single-phase low-voltage 16KW series, three-phase high-voltage 15KW series and three-phase high-voltage 50KW series products. In the first half of this year, its energy storage inverters sold a total of 78,500 units, and sales revenue increased by 241.63% over the same period of the previous year.

④ GOODWE

Company profile:

GOODWE is a provider of solar photovoltaic inverters and related products. The company's products include grid-connected inverters, energy storage products, SEMS systems and supporting products, which can be used in household, commercial, ground and energy storage. In addition, it also involves service support such as power station system design, troubleshooting and quality assurance. GOODWE's main business products include photovoltaic grid-connected inverters, photovoltaic energy storage inverters, smart data collectors and SEMS smart energy management systems.

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In the first half of 2022, GOODWE, one of the top 10 home energy storage battery companies in China, achieved an operating income of 1.452 billion RMB, a year-on-year increase of 33.61%, and a net profit of 54.62 million RMB, year-on-year decrease of 64.32%. During the reporting period, GOODWE in top 5 household PCS manufacturers sold about 233,700 inverters, including about 165,000 grid-connected inverters, accounting for about 70.60%. The sales volume of energy storage inverters is about 68,700 units, accounting for about 29.4%. Compared with the first half of 2021 (PCS shipments of 21,000 units), it increased by 227%.

⑤ SINENG

Company profile:

Sineng is a leading global high-tech enterprise specialized in power electronic products R&D, manufacturing, trading and maintenance, covering its business in PV inverter, energy storage system, power quality control, plant development and other fields, with a commitment to promoting the construction of a brighter future on the basis of cutting-edge technology solutions.

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Sineng's current energy storage products include AC PCS, DC PCS and integrated energy storage systems. In 2022, as one of the top 5 household PCS manufacturers Sineng's inverter products will achieve the top three performances in the centralized procurement bidding of China's state-owned power generation group. At the same time, China's energy storage business will continue to maintain its strong position in China's PCS market share in 2021.

The vigorous development of the global household energy storage market has brought new opportunities for the company's energy storage business. It is understood that Sineng is promoting the development of global, especially European and American markets in an orderly manner, and achieved the smooth delivery of the first 100MW energy storage project in July this year, marking a breakthrough in the expansion of global energy storage business.

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