Photovoltaic Energy Storage Inverter Ranking

The solar industry is booming in 2024, and solar PV inverter manufacturers are key players in this growth. From residential setups to large-scale solar farms, these top companies are driving cleaner energy with smarter and more efficient inverter technologies.

On the first day of the conference, PVBL's annual ranking of the Top 20 Global Photovoltaic Inverter Brands was announced. Preferential policies promoted the inverter market growth in 2023. Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume.

Solar Ware Ninja (Commercial): Modular design with enhanced MPPT tracking and efficiency up to 99%. Solar Ware 2550 (Utility): Advanced thermal management with hybrid cooling for utility projects. TMEIC's large-scale inverters are built for industrial use, with flexible installation options and advanced cooling systems.

Power Electronics is a prominent supplier of utility-scale inverters, known for high reliability and efficiency in harsh environments. HEM Series (Utility): Medium-voltage inverters with modular design and up to 2.5MW capacity. HEMK (Commercial): Compact inverter for industrial applications, up to 1000V.

Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume. Sungrow and Huawei tied for first place in the list with outstanding performance. Sungrow achieved revenue of 27.65 billion yuan in 2023, up 61% year on year, and net profit of 9.4 billion yuan, with shipments of 130 GW.

After years of competition, the inverter industry has become quite stable. The overall ranking of the list has not changed much, as most of the leading inverter manufacturers have developed their respective core products, including central inverters, string inverters, micro inverters and energy storage, in a balanced manner.