Photovoltaic (PV) Inverters - Global Strategic Business Report

Photovoltaic (PV) Inverters - Global Strategic Business Report

Global Industry Analysts, Date of Publication: Feb 20, 2013, 903 Pages
US$4,600.00
GIA-MCP7676

This report analyzes the worldwide markets for Photovoltaic (PV) Inverters in Megawatts. The report provides separate comprehensive analytics for the US, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2010 through 2018. Also, a six-year historic analysis is provided for these markets. The report profiles 242 companies including many key and niche players such as Advanced Energy Industries, Inc., Electronica Santerno SpA, Enphase Energy, Inc., Fronius International GmbH, Ingeteam Corporacion, S.A, KACO New Energy GmbH, Phoenixtec Power Co. Ltd., Power-One, Inc., Satcon Technology Corp., Schneider Electric SA, Siemens AG, SMA Solar Technology AG, and Sputnik Engineering International AG. Market data and analytics are derived from primary and secondary research.

TABLE OF CONTENTS

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3
Stand-Alone PV Inverters I-3
Grid-Connected/Grid-Tied PV Inverters I-3
Battery Backup PV Inverters I-3

II. Executive Summary

1. INDUSTRY OVERVIEW II-1
A Primer II-1
Figure 1: Operating Model of PV Power Generation Industry II-1
Figure 2: Components of PV Systems II-2
Table 1: Worldwide Photovoltaic (PV) Systems Sales (2011):
Percentage Breakdown of Revenues by Industry Segments- PV
Modules, Systems Planning, Engineering & Services, Balance of
System (BOS) Components & Inverters, and Others (includes
corresponding Graph/Chart) II-3

Table 2: Worldwide PV Inverters Market (2012): Cost Breakdown
of PV Inverters by Major Hardware and Processing Segments
(includes corresponding Graph/Chart) II-3

Table 3: Worldwide PV Inverters Market (2012): Cost Breakdown
of PV Inverter Electronics by Components (includes
corresponding Graph/Chart) II-4
Outlook II-4
Impact of Eurodebt Crisis II-4
Electronics Components Industry Choked by Eurocrisis and
Asian Calamities II-4
Recovery Anticipated in Near Term II-5
Eurocrisis Impels CE Industry Production Towards Central Europe II-5

2. MAJOR GLOBAL TRENDS II-6
Government Commitment for Solar Power Drives PV Inverter Demand II-6
PV Inverter Market Powers On Despite Euro Crisis II-6
Changing Market Dynamics Clips Prices of PV Inverter II-7
Smart PV Inverters to Climb II-7
Small 3-Phase String and Megawatt PV Inverters Grab Spotlight II-8
Table 4: Global Grid-Tied PV Inverter Shipments (2011 &
2014^): Percentage Breakdown of Shipment Volumes by Product
Segments - String, Standard Central, Multi-String, and
Turn-Key Inverter Systems (includes corresponding
Graph/Chart) II-8
Power Supplies and UPS Vendors Latch onto PV Inverter Success II-9
Manufacturers Stressed to Lower PV Inverter Prices II-9
Warranties and Service Segment to Outpace Hardware Market II-9
Affinity for Power Optimizers and Microinverters Grows II-10

3. PRODUCT OVERVIEW II-11
Photovoltaic Inverters II-11
Stand-Alone PV Inverters II-11
Grid-Tie PV Inverters II-11
Battery Backup PV Inverters II-11
Microinverters II-11

4. RECENT INDUSTRY ACTIVITY II-12
SolarBridge Technologies Partners with Solartec Energia Renovable II-12
Sungrow Secures A-Grade from Photon for SG15KTL PV Inverter II-12
REgeneration Finance Selects Inverters from Advanced Energy II-12
Ingeteam Provides Ingecon Sun 500HE TL Inverters II-13
Power-One Installs AURORA® Solar Power Inverters II-13
SMA Solar Technology Acquires dtw II-13
Sungrow Collaborates with CGNPC for Tin Iron Mountain Project II-13
Sungrow Power Supply Signs Agreement with Guodian Longyuan
Electrical II-14
Siemens Energy Secures PV Plants Contract from Viridis Energia II-14
SunPower Collaborates with SolarBridge Technologies for AC
Solar Panels II-14
SolarBridge Technologies Receives US$2.3 Million Grant from DOE II-14
Eaton Phoenixtec to Manufacture UPS Systems II-15
Motech's PV Inverter Shipments to Increase II-15
Maui Solar Selects Commercial Inverter Range of Advanced Energy II-15
Power-One Commences Shipments of Inverter Products II-15
Power-One Secures CSA-UL1741 Approval for AURORA® II-16
Satcon Technology Secures Contract for Tauberlandpark Solar PV
Project II-16
AEG Power to Launch First Manufacturing Unit II-16
SolarEdge Unveils New Production Line for US Market II-16
ABB Establishes New String PV Inverter Production Line II-17
Siemens' Burlington Plant Commences Production of SINVERT PV
Inverters II-17
Zachry Industrial Selects Advanced Energy's Solaron® Inverters
and SafeGuard® II-17
SolarEdge Technologies Expands Collaboration with Flextronics II-18
Direct Grid to Integrate Echelon's Energy Control Networking
into Microinverters II-18
Solectria Renewables to Execute DOE's Smart-Grid PV Inverters
Program II-18
SMA Solar Technology Establishes Subsidiary in India II-19
Su-Kam Signs Agreement for Distribution with Toshiba
Mitsubishi Electric II-19
AEG Power Solutions to Set Up Key Solar Projects in India II-20
Sunvalley Solar and Ken Vong Farms Ink Contract II-20
SMA Technology Commissions Solar Inverter Center II-20
Siemens Industry Refurbishes Manufacturing Plant in West Chicago II-20
Skytron Energy Receives Equipment Contract for 45MW PV Plant II-21
Siemens Industry Inks Contract with Interconnect Solar
Development II-21
KACO New Energy Partners with Sanmina-SCI for US Manufacturing
Services II-21
KACO New Energy Establishes Solar Inverter Production Plant II-22
Satcon Equinox Prism Platform Obtains Efficiency Certification II-22
Solar Cells Hellas Selects Satcon Technology for Inverter
Solutions II-22
Delta Energy Systems Acquires SOLON Inverters II-23
Advanced Energy Acquires PV Powered II-23
Advanced Energy to Expand Operations II-23
Recurrent Energy Selects Advanced Energy Solaron® PV Inverters II-24
KACO New Energy to Establish Solar Inverter Facilities in
North America II-24
OZZ Solar Chooses Satcon Technology to Supply Solar Inverters II-24
GCL Solar Selects Satcon Technology to Supply Solar Inverters II-24
Siemens Energy Bags PV Plant Construction Contract from D.P.E.S. II-25
Siemens Energy Receives Contract from Ital Green Energy II-25
Celestica Signs Manufacturing Agreement with SolarBridge
Technologies II-25
Sungrow Secures Supply Contract from Third Design Institution II-25
Power-One Establishes Power-One Phoenix Facility II-26
Satcon Enters into Strategic Manufacturing Alliance with GCL
Solar II-26
Sustainable Energy to Supply SUNERGY Inverters to 244 Ontario
Mico-FIT Projects II-26
Advanced Energy Establishes First Grid Connection in Europe II-27
Sustainable Energy and Bosch Solar Energy Enters into a
Partnership Deal II-27
Mitsubishi Electric Installs 191kW PV System at Nabeya-ueno
Waterworks II-27
Satcon Chosen by SCE for Solar Photovoltaic Program II-28
Satcon to Deliver 18MW PowerGate Plus Inverters to OZZ Solar II-28
Satcon to Supply PowerGate Plus Solar PV Inverters to ENERGY 21 II-28
Advanced Energy's Solaron PV Inverters Selected by Recurrent
Energy II-29
Sunvalley Solar Signs a Distribution Partnership Deal with CED
GreenTech II-29
EasyPower Selects Satcon for Solar PV Inverters II-29
Obsidian Selects PowerVault Medium Voltage Inverter Platform
of PV Powered II-30
SMA Solar Technology Acquires Module Inverter Technology II-30
Mitsubishi Electric to Introduce Photovoltaic Inverters in
North America II-31

5. PRODUCT INTRODUCTIONS II-32
Satcon Technology Unveils Equinox LCTM Inverters II-32
Power-One to Unveil New Micro Inverters II-32
Satcon Rolls Out Equinox 625 kW Inverter II-32
SolarBridge Technologies Launches PantheonTM II-33
Advanced Energy Industries to Introduce Solaron® 500E HE Inverter II-33
Power-One Launches AURORA ULTRA-1400 Central Inverter II-33
Power-One Rolls Out AURORA MICRO-0.3 Inverter and OPTI-0.3
Power Optimizer II-33
Power-One Introduces Redesigned Version of AURORA UNO-2.0
Inverter II-34
Power-One Launches AURORA TRIO 20.0-TL and 27.6-TL Inverters II-34
Advanced Energy Unveils PV Powered HE String Inverters II-34
SolarBridge Technologies Introduces Microinverters II-35
Power-One Rolls Out Solar PV Inverters II-35
AEG Power Solutions Unveils PV.500 Solar Inverter in the US II-35
Sustainable Energy Launches PARALEX 5000C60 and 5000A60 II-36
Sustainable Energy Unveils 240 Volt Inverter II-36
SolarBridge Introduces AC Module System for Microinverter II-36
Eltek Valere Launches Theia HE-t Series Inverter II-37
Enfinity Unveils 7 Electricity Inverters and 3 BIPV Systems II-37
Enecsys Launches a New 480W Microinverter II-38
Power-One to Unveil New Products of the AURORA® Range II-38
KACO New Energy Launches New Solar PV Inverters in the XP Series II-38
Power-One Unveils a DC/DC Power Optimizer and a 300W
Microinverter II-39
Motech Unveils PVMate 15E~20E II-39
AROS Unveils SIRIO 10000P II-40
AE Unveils Stainless Steel PV Inverters II-40
Enecsys Unveils SMI-D480W-60 II-41
Delta Launches Central Inverter SOLIVIA CL 200 for Large-Scale
PV Plants II-41
Motech Launches Wew PV Inverter II-41
KACO New Energy Unveils blueplanet XP10U-H410kW Inverter II-42
AETI Introduces New Models in ISIS 1000 Line II-42
KACO Launches New Powador Central Inverters II-42
Satcon Introduces Equinox™ Power Converter II-42
SMA Solar Technology Launches Sunny Boy 3000HF II-43
Power-One Introduces Dedicated Central Inverter II-43
KACO to Unveil New Three Phase Inverter Models II-43
Mitsubishi Electric Develops High Output PV Inverter Technology II-44
Carlo Gavazzi Introduces Single and Three-Phase PV Inverters II-44
Enecsys Introduces PV Micro-Inverter for North America and Europe II-44
Satcon Technology Introduces Satcon Equinox II-45
Sputnik Launches Series of Central Solar Powered Inverter Series II-45
SMA Introduces New HE Inverters II-46
Power-One Introduces PVI-250 and PVI-300 Inverters II-46
PV Powered Unveils New Solar PV Inverters II-46
Advanced Energy and PV Powered Jointly Launch PV Inverters II-47
Enecsys Releases Solar PV Micro-Inverters in North America and
Europe II-47
Fronius Launches CL PV Central Inverter II-48
Advanced Energy® Launches Solaron® 250 II-48
ABB to Launch Solar Inverter PVS800 II-48
Siemens Launches Sinvert PVS35OT UL II-48
Xantrex Introduces Xantrex GT500E and Xantrex GT250E II-49

6. FOCUS ON SELECT GLOBAL PLAYERS II-50
Advanced Energy Industries, Inc. (USA) II-50
Electronica Santerno SpA (Italy) II-50
Enphase Energy, Inc. (USA) II-50
Fronius International GmbH (Austria) II-51
Ingeteam Corporacion, S.A (Spain) II-51
KACO New Energy GmbH (Germany) II-51
Phoenixtec Power Co. Ltd (Taiwan) II-51
Power-One, Inc. (USA) II-52
Satcon Technology Corp. (USA) II-52
Schneider Electric SA (France) II-52
Siemens AG (Germany) II-53
SMA Solar Technology AG (Germany) II-53
Sputnik Engineering International AG (Switzerland) II-53

7. GLOBAL MARKET PERSPECTIVE II-54
Table 5: World Recent Past, Current & Future Analysis for PV
Inverters by Geographic Region - US, Japan, Europe,
Asia-Pacific, and Rest of World Markets Independently Analyzed
with Annual Shipment Capacities in Megawatts for Years 2010
through 2018 (includes corresponding Graph/Chart) II-54

Table 6: World Historic Review for PV Inverters by Geographic
Region - US, Japan, Europe, Asia-Pacific, and Rest of World
Markets Independently Analyzed with Shipment Capacities in
Megawatts for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-55

Table 7: World 15-Year Perspective for PV Inverters-
Percentage Breakdown of Shipment Capacities by Geographic
Region - US, Canada, Japan, Europe, Asia-Pacific, Latin
America and Rest of World for Years 2004, 2011 & 2018
(includes corresponding Graph/Chart) II-56

III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Outlook III-1
US PV Inverter Industry - A Snapshot III-1
Table 8: US PV Inverter Market (2011): Percentage Breakdown
of Revenues by Players- Foreign and Domestic (includes
corresponding Graph/Chart) III-1

Table 9: US PV Inverter Market (2011): Percentage Breakdown
of Revenues of Domestic Players by End-use Segments -
Residential, Commercial and Utility (includes corresponding
Graph/Chart) III-2
Strategic Corporate Developments III-2
Product Introductions III-9
Key Players III-19
B.Market Analytics III-21
Table 10: The US Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-21

Table 11: The US Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-22

2. JAPAN III-23
A.Market Analysis III-23
Outlook III-23
Major Trend III-23
Tsunami Leaves IGBT Output Virtually Untouched III-23
Strategic Corporate Developments III-23
Product Introductions III-25
B.Market Analytics III-26
Table 12: Japanese Recent Past, Current & Future Analysis
for PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-26

Table 13: Japanese Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-27

3. EUROPE III-28
A.Market Analysis III-28
Outlook III-28
Major Trends III-28
European Manufacturers Capitalize on Strong Domestic Demand III-28
Supply Disruptions Rock European PV Inverter Industry III-28
B.Market Analytics III-30
Table 14: European Recent Past, Current & Future Analysis
for PV Inverters by Geographic Region - France, Germany,
Italy, UK, Spain, Russia and Rest of Europe Markets
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2010 through 2018 (includes corresponding
Graph/Chart) III-30

Table 15: European Historic Review for PV Inverters by
Geographic Region - France, Germany, Italy, UK, Spain,
Russia and Rest of Europe Markets Independently Analyzed
with Shipment Capacities in Megawatts for Years 2004 through
2009 (includes corresponding Graph/Chart) III-31

Table 16: European 15-Year Perspective for PV Inverters-
Percentage Breakdown of Shipment Capacities by Geographic
Region - France, Germany, Italy, UK, Spain, Russia and Rest
of Europe for Years 2004, 2011 & 2018 (includes
corresponding Graph/Chart) III-32

3a. FRANCE III-33
A.Market Analysis III-33
Outlook III-33
Key Player III-33
B.Market Analytics III-34
Table 17: French Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-34

Table 18: French Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-35

3b. GERMANY III-36
A.Market Analysis III-36
Outlook III-36
Table 19: German Inverter Production (2010 & 2020):
Percentage Breakdown of Production Volume by End-use Market
- Domestic and Foreign (includes corresponding Graph/Chart) III-36
Strategic Corporate Developments III-36
Product Introductions III-38
Key Players III-40
B.Market Analytics III-42
Table 20: German Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-42

Table 21: German Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-43

3c. ITALY III-44
A.Market Analysis III-44
Outlook III-44
Strategic Corporate Developments III-44
Product Introductions III-45
Key Player III-45
B.Market Analytics III-46
Table 22: Italian Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-46

Table 23: Italian Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-47

3d. THE UNITED KINGDOM III-48
A.Market Analysis III-48
Outlook III-48
Product Introductions III-48
B.Market Analytics III-49
Table 24: The UK Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-49

Table 25: The UK Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-50

3e. SPAIN III-51
A.Market Analysis III-51
Outlook III-51
Market Trend III-51
Spanish FIT Rollback Creates Bubble in Europe III-51
Strategic Corporate Development III-51
Key Player III-52
B.Market Analytics III-52
Table 26: Spanish Recent Past, Current & Future Analysis for
PV Inverters Market Independently Analyzed with Shipment
Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-52

Table 27: Spanish Historic Review for PV Inverters Market
Independently Analyzed with Shipment Capacities in Megawatts
for Years 2004 through 2009 (includes corresponding
Graph/Chart) III-53

3f. REST OF EUROPE III-54
A.Market Analysis III-54
Outlook III-54
Strategic Corporate Development III-54
Product Introductions III-56
Key Players III-57
B.Market Analytics III-58
Table 28: Rest of European Recent Past, Current & Future
Analysis for PV Inverters Market Independently Analyzed with
Shipment Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-58

Table 29: Rest of European Historic Review for PV Inverters
Market Independently Analyzed with Shipment Capacities in
Megawatts for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-59

4. ASIA-PACIFIC III-60
A.Market Analysis III-60
Outlook III-60
Market Trends III-60
Chinese Government Rescues Domestic PV Industry III-60
Chinese Government Support Bolsters PV Inverter Production III-60
Taiwan to Emerge as Major Contract Manufacturing Hub III-60
Strategic Corporate Developments III-61
Product Introductions III-67
Key Players III-67
B.Market Analytics III-68
Table 30: Asia-Pacific Recent Past, Current & Future
Analysis for PV Inverters Market Independently Analyzed with
Shipment Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-68

Table 31: Asia-Pacific Historic Review for PV Inverters
Market Independently Analyzed with Shipment Capacities in
Megawatts for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-69

5. REST OF WORLD III-70
A.Market Analysis III-70
Outlook III-70
Strategic Corporate Developments III-70
Product Introductions III-74
B.Market Analytics III-75
Table 32: Rest of World Recent Past, Current & Future
Analysis for PV Inverters Market Independently Analyzed with
Shipment Capacities in Megawatts for Years 2010 through 2018
(includes corresponding Graph/Chart) III-75

Table 33: Rest of World Historic Review for PV Inverters
Market Independently Analyzed with Shipment Capacities in
Megawatts for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-76

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 242 (including Divisions/Subsidiaries - 252)

The United States (34)
Canada (4)
Japan (7)
Europe (66)
- France (1)
- Germany (23)
- The United Kingdom (1)
- Italy (17)
- Spain (9)
- Rest of Europe (15)
Asia-Pacific (Excluding Japan) (138)
Latin America (2)
Africa (1)

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Date of Publication:
Feb 20, 2013
Number of Pages:
903 Pages
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