The Indian government has set an ambitious vision of renewable energy plants of 175 GW by 2022 and 450 GW by 2030 to bring affordable and sustainable energy to all citizens. Accordingly, India has made impressive strides in recent years by adding more than 36 GW of solar capacity to date. It is now expected to be the largest contributor to the renewable energy boom in 2021. According to a recent report by the IEA, the country’s annual growth has almost doubled from 2020. The recent reverse auction of the 1070 MW Rajasthan tender by SECI with the lowest tariff of INR 2 / kWh (2.7 cents / kWh) shows the increasing confidence of investors in this booming market. Sungrow, the world’s leading provider of inverter solutions for renewable energy, has made significant strides in the past six years since entering the growing Indian solar market.
Sungrow has been a leader in the clean energy business for more than 23 years, offering its innovative products, solutions and services worldwide. By June 2020, more than 120 GW systems had been reached worldwide. According to reports from Bloomberg New Energy Finance (BNEF), the company has been rated “100% bankable” as the leading provider of PV inverters for the past two years. These references create the ease and confidence in the non-recourse financing of large solar supply projects that Sungrows inverters carry out in all parts of the world.
The recent pandemic has put the resilience and soundness of Sungrow’s business to the test. Despite all the adversities, the company was able to achieve a sales growth of 55.57% in the first half of 2020 compared to the previous year, which was carried by large-scale deliveries across the continents. According to the worldwide figures, Sungrow also delivered an excellent performance in India, with more than 2 GW PV inverters being shipped in just three quarters. This has helped Sungrow reach the # 1 position with a healthy 28% market share in the first half of 2020, according to Mercom’s latest leaderboard report. The same position continued into the third quarter of 2020 with the total number of shipments in India exceeding 6 GW
Trendsetter in the Indian solar industry
Since entering the Indian solar market, Sungrow has consistently brought and offered its customers new and innovative solutions that have set the market trend that others should also follow. Starting with its 2.5 MW container central inverter to eliminate the bottleneck in indoor inverters up to a 3.125 MW central inverter for a block size of up to 12.5 MW, these were the first technological innovations in the Indian solar industry. Both later became the industry standard after their success and great acceptance by Indian customers.
Unique product basket
Sungrow is one of the few companies that manufacture and sell both central and string inverters. With the vision of “being the leader in clean power conversion technologies”, it is the only company that has consistently achieved double-digit market shares in the central and string inverter categories over the past five years. This shows the value proposition of Sungrow’s product offering in both the Utilities and C&I segments. Sungrow also recently launched residential products in India to enter the retail market, offering its world class solutions to end users.
As the solar industry is changing rapidly, the falling PPA tariff, pressures of investment costs, tighter grid demand and land use application procedures, and requirements for simpler operations and maintenance are some of the challenges a utility-scale solar project brings with it. These new requirements and standards set a higher threshold for the inverter. With its flagship central inverter with an output of 3.125 MW, Sungrow had the first mover advantage in this area, as it offered customers several advantages in terms of BoS savings and higher yields. This product is a resounding success in India as it has only been delivered to multiple solar projects for more than a total capacity of 3.5 GW.
Thanks to its greater acceptance and success, Sungrow introduced the central inverter rated up to 5 MW (SG5000UD-20) with the highest rated power to meet very specific project and customer requirements. This new solution minimizes land use and enables cost savings in transportation, installation, commissioning and O&M, which enables an optimized LCOE.
As the market slowly began to diversify applications, Sungrow launched the most powerful 1500 V string inverter with 250 kW to meet the new requirements.
The International Solar Energy Research Center Konstanz states that the lowest LCOE of 1 ￠ / kWh is expected for 2021/2022. The leading technologies to achieve this goal will be a bifacial module plus tracker system. The SG250HX-IN is equipped with 12 MPPTs to adapt complex terrain and to match it perfectly to the bifacial modules. It is also possible to provide the tracker system with a reserved power, supply and communication interface and at the same time support the scanning and diagnosis of IV curves. SG250HX-IN offers an IP66 degree of protection for all chambers and a corrosion protection construction with degree of protection C5, making it ideal for applications in coastal areas, in the chemical industrial region and under other typical harsh conditions.
As one of the best-selling 1500 V PV inverter solutions, it has been used worldwide for over 5 GW.
Sungrow’s CX series inverters for the C&I segment were also frontrunners among competitors, offering customers a comprehensive solution that took into account total system costs, power generation efficiency, return on investment, and operating and maintenance costs. The CX series inverters (SG33CX, SG50CX and SG110CX) have improved Sungrow’s leadership position in the Indian rooftop solar market and the No. 1 position.
“Sungrow has a long-term plan for the Indian solar market. Sungrow was a proponent of the Make in India initiative by building a state-of-the-art manufacturing facility in Bengaluru with an annual production capacity of 3 GW to further his long-term vision. Now we are also trying to expand and enlarge as local market demand is expected to grow faster ”- said Sunil Badesra, Business Head of Sungrow India.
Sungrow is one of the few providers with know-how in relation to PV and energy storage solutions. Sungrow offers complete battery-integrated storage solutions embedded in BMS and other ancillary devices to ensure security and protection for various network-scale applications. Equipped with an industry leading sales, technical support and customer service team that provides responsive and knowledgeable service, Sungrow offers its customers cost-optimized and hassle-free solutions. To date, Sungrow storage solutions have run over 1000 installations, including some in India, with no single case of security concerns demonstrating the stringent standards of Sungrow products.
The rising demand for clean energy and the push towards low-carbon energy sources are leading to increasing capacity expansion of solar projects in India. The Indian solar market is considered to be one of the bright spots for the coming decades with a prosperous future for solar plus storage. Sungrow carries the torch of success in its PV inverter business in India and is looking forward to taking a strong position in the battery storage business.
Sungrow aims to play an important role in India’s drive for a clean energy transition. With the philosophy “Design meets Demand”, the company will continue to develop innovations and offer optimized solutions and ensure the success of its customers.
Sungrow Power Supply Co., Ltd (“Sungrow”) is the world’s most bankable inverter brand, with over 120GW installed worldwide in June 2020. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar power inverters with the largest dedicated research and development team in the industry and a broad product portfolio that includes PV inverter solutions and energy storage systems for commercial, commercial and residential applications as well offers internationally recognized floating PV system solutions. With a strong 23-year history of success in the PV sector, Sungrow produces power supply systems in over 120 countries and holds a global market share of over 15%. You can find more information about Sungrow at https://en.sungrowpower.com/.
For more information, please contact:
Mr. Satyanarayan Bishoyi
Marketing Manager, Sungrow India
Email: firstname.lastname@example.org; email@example.com
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