Company: Enphase Energy
The global PV inverter market broke through the US$7 billion level for the first time in 2012, according to market research firm IHS.
Due to higher ASPs, microinverter leader Enphase muscled into the top 10 rankings based on revenue, the first microinverter firm to do so.
Sam Wilkinson, PV inverter research manager for IHS said: “Despite lower PV installation growth and rapid price declines, inverter sales have managed to generate growth, all be it at just low single-digit levels—a notable achievement amid such weak market conditions in the solar market.”
According to IHS, PV inverter growth was driven by increasing PV demand in Asia, notably in the fourth quarter of 2012. This helped to prop up sales overall as Europe/Middle East/Africa region (EMEA) experienced a 20% sequential decline.
“This helped to drive annual shipments to 31 gigawatts in 2012, up from 27 gigawatts in 2011,” added Wilkinson.
Pricing pressure continued to be a key feature of market dynamics in 2012. IHS noted that revenue growth was restrained slightly by intense price competition and a shift toward more sales in lower-price markets such as China, India and Eastern Europe.