Best top 5 PV inverter companies in India

Here are top 5 PV inverter companies in India: Sungrow, Sinnen, Huawei, Ginlong and Goodwe.

India's three industrial regions ranked in the top five with 9.05GW, 6.9GW and 4.8GW respectively. It is implementing a series of direct plans to bring capacity online. Specifically, the solar power plant plan aims to set up at least 50 solar power plants, with the goal of 40,000MW of solar power projects.

The VGF aims to build 12,000MW of grid-connected solar photovoltaic projects. The VGF is intended to support economically sound but financially unsustainable projects. The industry is likely to pick up in 2024. India has recently missed its solar capacity targets, with installations falling in the first half of 2023.

New installed capacity in the first half of 2023 decreased by 19% compared to the first half of 2022. In the report, the inverter rankings are also slightly different, with Sungrow, Sinnen, Huawei, Ginlong and Goodwe being the top 5 PV inverter companies in India.

1. Best top 5 PV inverter companies in India list

① Sungrow

Sungrow is a leading technology company focused on renewable power products such as solar and wind. It is currently the largest manufacturer of photovoltaic inverters and a leading wind energy converter company in China. It is also one of the few companies in the new energy industry that has mastered a number of core technologies and has completely independent intellectual property rights.

Always use technological innovation as a driving force for business development. The company has established a professional R&D team, with rich R&D experience and leading independent innovation capabilities in the renewable energy power supply industry.

The main products are photovoltaic inverters, wind energy converters, power system power supplies, etc., and provide project consulting, system design and technical support services.

Inverter shipments increased more than expected, and market share increased significantly. In terms of household storage, the channel has maintained growth, accelerated capacity expansion in line with high demand,and is currently expanding 25GWh of production capacity, which will reach 55GWh by the end of 2024.

And it will increase production capacity by another 50% in 2025, gradually becoming the most important growth pole. The power station business is growing rapidly, but profitability is moderate, and the company is expected to improve in the second half of the year. Strong demand for orders and high operating quality.

② Sinnen

Sinnen is one of the top 5 PV inverter companies in India, covering photovoltaic inverters, energy storage systems, power quality governance, power station development and other fields. Committed to the world's leading green technology solutions, continue to promote the world to build a cleaner, safer and better future.

In the field of photovoltaics, the products cover 3kW~6800kW full-power photovoltaic inverters. It is widely used in various scenarios such as large land, mountains, water surfaces, industrial and commercial roofs and households to meet the diverse needs of customers.

In the field of energy storage, Sinnen provides full-scenario energy storage system solutions, with a full range of 1000V/1500V energy storage converters and system integration products with centralized and serial multiple technical paths. It is suitable for multi-scenario applications such as power generation, power grid, home energy storage and microgrid.

The photovoltaic inverter business is also deployed, and its products cover centralized and serial inverters, deeply benefiting from the rapid development of global centralized and distributed photovoltaic installations, and will accelerate the pace of product expansion. In the field of energy storage, the company's PCS market share has jumped to first place in the industry in 2022.

③ Huawei

Huawei is a leading global provider of information and communication technology (ICT) solutions, focusing on the ICT field and focusing on building end-to-end solution advantages. Provide consumers with competitive ICT solutions, products and services. Master photovoltaic inverter technology and occupy an important position in the top 5 PV inverter companies in India photovoltaic field.

Power supply, wireless communication equipment, microelectronic products, software, system integration engineering, computers and supporting equipment. Communication site infrastructure and communication equipment (including intelligent management and monitoring, lithium battery and energy storage system, etc.).

Committed to optimizing the string inverter algorithm, striving to achieve centralized inverter control and accurate positioning in case of failure. Officially let the photovoltaic industry enter the era of "smart photovoltaic". Huawei has made string inverters a big development and gave the photovoltaic industry AI intelligence, giving it endless potential.

④ Ginlong

Ginlong is a global leader in distributed PV inverters. A technology company specialized in research and development, production, sales and service of string inverters, the core equipment of photovoltaic power generation systems. It was the first company to consider string inverters as its main business. At present, the business layout has been expanded to global distributed and residential energy storage products.

Products include photovoltaic inverters and energy storage inverters, of which photovoltaic inverters are divided into three-phase series inverters (covering the power range of 5KW to 230KW) and single-phase series inverters (covering the power range of 0.7KW to 10KW). Three-phase series products with higher power are mainly used in medium and large residential, industrial and commercial distributed and ground power station power generation systems

And single-phase series products are mainly used in residential and small industrial and commercial photovoltaic power generation systems. Energy storage inverter products are mainly used in small and medium-sized residential or small industrial and commercial photovoltaic storage scenarios.

The company focuses on the layout of the inverter business. The global layout also brings high growth to the company. As an inverter manufacturing company, customers cover many countries and regions around the world.

⑤ Goodwe

It is a company based on conversion, energy storage conversion and energy management of new energy power supply equipment. Long-term focus on solar energy, energy storage and other new energy supply equipment.

At present, it has developed more than 20 series of photovoltaic inverter products for grid-connected and energy storage, with power coverage of 0.7-320kW and is committed to providing global solutions such as smart energy management for households, industrial and commercial users and ground power stations.

The main business products include photovoltaic grid-connected inverters, photovoltaic energy storage inverters, smart data collectors and SEMS smart energy management systems. Among them, photovoltaic inverters are the company's core products.

Goodwe selling 447,000 photovoltaic inverters and 61,000 energy storage inverters in 2021. The 2022 annual report shows that the revenue of photovoltaic grid-connected inverters accounts for 42.65% of the total operating income, energy storage inverters account for 35%, and the operating income of energy storage inverters has increased significantly year-on-year, and energy storage batteries account for 13.3%.

2. Conclusion

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