Utility market 2022 and 2023: Sungrow’s highlights

2022 will finish as a record year for solar energy as the world's demand for the cheapest and cleanest energy source grows. The year 2023 will presumably have a jump start, as the market continues to look positive. Energy storage (ESS) will become a crucial factor for solar parks to contribute to the stable energy supply.

Growing demand for solar energy and supply chain challenges determine the energy industry

Despite the unexpected global supply chain challenges and the strongly changed economic conditions facing the energy industry as such and the renewable industry in special, Sungrow is able to record high growth figures in 2022 – as Moritz Rolf , Sungrow Director CEE, Nordics, and Turkey, shared in webinar with pv magazine on November 15. Sungrow shipped a total of 23 GW in inverter power in Europe and outperformed expectations especially in the residential sector. Here the demand for energy security and independence from rising energy prices is increasing significantly.

Sungrow continues to expand portfolio with product heroes 2022

As the only inverter manufacturer with such a broad product range, Sungrow will continue to expand its product portfolio in 2022. Newly introduced to the European market where the EV charging solutions with the AC EV charger offering the complete set-up for residential houses and the DC EV charger, which will be further expanded next year. Further highlights were the newly released 1+X Modular Central Inverter and the PowerTitan, a new liquid cooled energy storage system. In 2021 Sungrow introduced the ultra powerful 3-Phase String Inverter SG350HX which is now available for the EU. Currently, an increasing number of certifications are coming in to make the inverter in several EU countries available. 

The success of Sungrow's products is further proven by the fact that Sungrow maintained its status as the most bankable inverter brand for four consecutive years in the BloombergNEF (BNEF) PV Module and Inverter Bankability Survey. Sungrow became the only inverter supplier ranked “100% bankable” this year.

What to expect in 2023: Gas shortages, solar product innovations and hydrogen

While 2022 has been a challenging year, the future for solar looks bright. In 2023, the solar energy market is expected to grow again by at least 50 %. The winter will decide to which extent the European gas shortage will impact heating, power, and electricity generation. The good news: Despite the uncertainties, Sungrow will be able to meet the rising demand for residential and hybrid inverters and will also be able to ship more utility inverters.

Moritz Rolf recommends: “Long-term planning will continue to be advisable. As with modules, large inverters are best ordered six months before the required installation date”.

The R&D team, represented by Iván Garcia Torregrosa , showed insights into Sungrow’s hydrogen activities. In 2022, Sungrow was named one of the leading companies in terms of annual manufacturing capacity. According to BNEF Sungrow places third in their ranking of the top 20 hydrogen electrolyser makers in the world.

As Sungrow is providing the strongest R&D team in the industry, the attention will remain on driving forward product innovations. Newly introduced hydrogen products for 2023 will be an AC/DC Rectifier and the DC/DC Converter!

Most importantly, Sungrow will continue to stay flexible in providing solutions for their valued customers and continue to contribute to a better future with its mission to achieve #CleanPowerForAll.