October 18, 2022

ENPH, Huawei, Ginglong (300763 CH), Sungrow (300274 CH), GoodWe, SMA, Fronius

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6 sources in France and Germany, comprising 3 with solar installation, integration and development companies, and 3 inverter distributors, representing more than 2.7 GW of solar installations in Europe and worldwide in 2021.

REPEAT SOURCES 5 from OTR Global’s July report

INTERVIEWS Sept. 26 through Oct. 11

Solar Energy – European Inverter and Energy Storage Market

European string-inverter and microinverter 2022 sales/purchase growth expectations have improved since July, with low supply supporting 3Q22 price increases, and Enphase’s microinverters gaining share because of its availability advantages.

  • 3Q22 string inverter orders up 76%–81% yy, microinverter orders up 51%–56% yy, both boosted by anticipated orders by distributor sources, booming demand from distributed generation segment
  • 2022 string inverter sales/purchases expected up 54%–59% yy, microinverter sales/purchases expected up 43%–48% yy (both improving vs. July forecasts)
  • 3Q22 string inverter prices up 28%–33% yy, microinverter prices up 13%–18% yy (both improving vs. 2Q22); 4Q22 string inverter prices expected up 31%–36% yy, microinverter prices expected up 17%–22% yy
  • ENPH, Huawei, Ginglong (300763 CH), Sungrow (300274 CH), GoodWe (688390 CH) expected to gain share during 2H22 on slight availability advantage; S92 GR, Fronius still expected to lose share on shortages
  • Areas to Watch: 2022 energy-storage solution sales expected up 60%–65% yy; 3Q22 delivery times down qq for 3 of 6 sources; 4Q22 prices expected down yy for 2 of 6