Sungrow’s SG500MX-M is now a modular inverter with up to 4 MPPTs. The 50kW and 60kW units use advanced thermal and high power density design that nearly double the power output in the same form factor.
As average selling prices continue to drop and market share gets further diluted to an influx of competition, some PV inverter manufacturers struggle to make a profit. Chinese inverter manufacturer Sungrow, however, reports it,s profitable and one of the largest inverter manufacturers in the world.
With a slew of new hit products this year, including the latest generation 500-kW (Europe and Asia only) central inverter, a new 1-MW inverter (U.S. only), a new 50-kW string inverter, and an efficiency record breaking 60-kW string inverter that maxes out at 99% peak efficiency, the company says it has seen tremendous uptake in sales.
“2013 saw record breaking numbers for Sungrow’s volume, revenue, and profit, and 2014 is on track to be even better,” said Mizhi Zhang, CEO of Sungrow North America.
Founded in 1997, Sungrow has deployed over 7 GW through 2013 in over 50 countries. Globally, Sungrow employs more than 1,200 people, of which over 30% are R&D engineers, with dozens of offices in Asia, Europe, and North America.
1H 2014 Highlights:
- $15.5M net profit (up 78% YoY)
- $152M revenue (up 29% YoY)
- Sales up 29% YoY, up 76% outside of China
