HahaSmart’s Solar News Episode 12:
The 2019 Winners and Losers of the Solar Inverter Market.
Welcome back to HahaSmart Solar News!
Is the Internet of Things the future of the inverter market?
With a new Wood Mackenzie report predicting a decline in inverter market value through 2024, some manufacturers are expanding their smart home platform offerings as a way to remain profitable amid price pressure and fierce competition.
SolarEdge, which recently posted record revenues of $325 million in Q2 2019, made acquisitions in 2018 with the goal of becoming a smart energy company.
Competitor Enphase is also expanding, hoping to transform from a microinverter company to a home solar energy management systems company with the release of its new Ensemble platform in Q4 of this year. The company recently posted its third straight profitable quarter in Q2 with revenue of $134.1 million.
Meanwhile, other vendors are either leaving the inverter space altogether or doubling down to ride it out.
ABB announced last month it was selling its inverter business, and SMA, in spite of a 15.9 million dollar loss in its Year to Date earnings report, predicts an increase in sales, recently updating its Sunny Boy inverter.
Do you think smart home systems are the future of inverters?
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