Yang Meng, Sungrow’s European distribution director, stated that regardless of indicators of slowing demand within the residential section, the general photo voltaic and storage market in Europe is on a powerful trajectory, with potential for development within the industrial and industrial space for storing.
You not too long ago attended The Smarter E Europe occasion in Munich, Germany. What was your impression after the present? What is the state of the European market?
This yr, I noticed that the occasion remained full, attracting many members. However, in distinction to final yr, I observed an absence of latest entrants within the European market. Last yr, we witnessed a major inflow of latest firms debuting on the present. This yr, lots of the similar gamers appear to be absent, leaving us with little to look at. In addition, a few of our opponents have lowered their sales space sizes in comparison with earlier years. Despite these adjustments, I firmly imagine that there are viable markets in Europe, and I anticipate that demand will stay sturdy sooner or later.
Unlike the final two years?
No, the scenario shouldn’t be much like that of the final two years. In these years, demand soared to unprecedented heights. However, I imagine that this yr, the market will obtain a degree of group. Consequently, it would result in some members dropping out of the competitors. This is according to our present market observations and the predictions made by trade forecasters.
Do you assume some tier-1 manufacturers will even exit the market?
I firmly imagine that established manufacturers will survive on this trade. However, new entrants and smaller firms are prone to be deprived. Their lack of native service suppliers and regional places of work accessible to installers will change into extra essential, particularly if worth competitors reaches its peak and additional reductions could change into unsustainable.
Despite the overall projection for a slowdown within the European market, do you see any particular nations or market segments enhancing?
Absolutely. My earlier elaboration involved the buildup of storage programs in European settlements. However, we’ve got witnessed important enlargement in lots of storage segments, notably within the industrial and industrial sectors. In many markets, grid congestion or inherently weak grids require small and medium-sized companies to stabilize and defend their electrical energy provide. In addition, some markets provide profitable income streams for ancillary providers, the place we’ve got merchandise tailor-made for this section. Although there’s a slight dip on one facet, our market section catering to bigger batteries is rising.
Historically, we’ve got seen slower than anticipated demand from the C&I section. What has modified now that makes you imagine this sector is lastly set for development?
I imagine that, regardless of the latest discount in electrical energy costs throughout Europe and the comparatively excessive rates of interest on loans, firms stay desirous to spend money on giant storage programs. There is a big demand for such programs. However, I do know that that is nonetheless a brand new subject for a lot of enterprise house owners, and it could take years for a widespread understanding of the functions and advantages of storage in industrial and industrial (C&I). In this interim interval, we are going to proceed to develop extra helpful options for this section.
So batteries are solely getting larger for Sungrow?
Yes, however this is just one a part of the equation. For instance, we additionally see essential market traits within the German balcony-PV market. Therefore, we introduce novel, but compact, merchandise to deal with these dynamics. In specific, we launched microinverters tailored for PV programs on the balcony, as a result of this section has nice potential for us. In addition, we’re conscious of synergies, because of the recognition of rooftop installations utilizing microinverters within the Netherlands and France. While the rooftop microinverter and the balcony PV inverter characterize completely different merchandise, we will successfully switch data and know-how between them, enhancing our general portfolio.
How does your present product technique meet the calls for of various markets? In the previous, the challenges for inverter producers have outstripped demand, with widespread semiconductor shortages affecting your complete market. What is the scenario now?
There isn’t any scarcity of semiconductors right now.
Moving ahead, we’re centered on persevering with to innovate and develop new merchandise that meet the evolving wants of our clients. We imagine that by staying forward of the curve and anticipating market traits, we will keep our place as a number one inverter producer. We are excited in regards to the alternatives that lie forward and sit up for serving our clients with prime quality, dependable merchandise.
What is your present manufacturing capability? Have you expanded it not too long ago? How many of those are nonsense?
The annual capability of Sungrow ESS will attain 55 GWh, with 45 GWh underneath building, and the annual manufacturing capability of energy digital converters will attain 330 GW, with a further 25 GW presently underneath building.
How many inverters have you ever shipped within the final 12 months? How a lot do you anticipate to ship within the subsequent 12 months?
Sungrow is a worldwide main PV inverter and vitality storage system supplier for renewables, with over 515 GW of energy digital converters put in worldwide by December 2023, and the merchandise have been put in in additional than 170 nations and areas.
Global shipments of Sungrow PV inverters reached 130 GW by 2023, holding the No. 1 place in international PV inverter shipments. And the worldwide cargo of vitality storage programs in 2023 exceeded 10.5 GWh.
As the world’s give attention to renewable vitality sources intensifies and environmental consciousness grows stronger, we firmly imagine that the photo voltaic trade will proceed its sturdy development path. Similarly, vitality storage, an essential cornerstone for the way forward for vitality programs, is poised to develop in a steady and safe method, paving the way in which for a extra sustainable and environmentally pleasant future.
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