inverter manufacturer

SMA Solar posted preliminary net losses of €117.7 million (US$126 million) in 2024—down from €225.7 million in income last year.

The firm posted net losses (in accordance with generally accepted accounting principles (GAAP)) of US$1.81 billion over 2024 .

Enphase Energy's financial results follow a wider trend in the inverter market, which has seen major players struggle to adapt.

SPE said the inverter industry “faces difficulties due to global manufacturing overcapacity and a slowdown in the rooftop PV segment in several important European markets.”

Cormac Gilligan of S&P Global said macro market forces have combined with technology shifts to impact the fortunes of inverter producers.

In its Q1-3 2024 financial results, SMA Solar said it will cut up to 1,100 jobs and reduce costs by between €150 and €200 million by the end of 2025.

EU inverter companies' market share is shrinking due to a lack of domestic support policies and fierce competition from China.

Solar inverter manufacturer SMA has unveiled plans to double its production capacity by 2024 at its Germany headquarters.

Chinese inverter manufacturer KSTAR is set to complete construction of its first Vietnam manufacturing facility next month.

PV Tech interviewed Gary Ye, vice president at KSTAR, to understand which markets the inverter manufacturer is targeting, what’s driving the market dominance of string inverters and the technological considerations for solar-storage hybrid projects.