solar inverter shipments:
As the core equipment of the solar power generation system, the industry development of solar inverters is consistent with the development trend of the global solar industry and has maintained rapid growth in recent years. Data shows that global solar inverter shipments have increased from 98.5GW in 2017 to 225.4GW in 2021, with a compound annual growth rate of 23.0%, and are expected to reach 281.5GW in 2023.
China, Europe, and the United States are the main markets for the global solar industry and the main distribution areas of solar inverters. The shipments of solar inverters account for 30%, 18%, and 17% respectively. At the same time, the shipment volume of solar inverters in emerging markets in the solar industry such as India and Latin America is also showing a rapid growth trend.
Future development trends
1. The cost advantage of solar power generation is gradually reflected
With the rapid development of the solar power generation industry, continuous innovation of industrial technology, and intensified competition between the upstream and downstream of the industrial chain, the research and development capabilities and production efficiency of core components of solar power generation systems such as solar modules and solar inverters have continued to improve, resulting in an overall decrease in the cost of solar power generation. trend. At the same time, affected by factors such as the COVID-19 epidemic and international wars and conflicts, global fossil energy prices continue to rise, further highlighting the cost advantage of solar power generation. With the full popularity of solar grid parity, solar power generation has gradually completed the transformation from subsidy-driven to market-driven and entered a new stage of stable growth.
2. “Integration of optical and storage” has become an industry development trend
"Integration of solar power generation" refers to adding energy storage system equipment such as energy storage inverter and energy storage batteries to the solar power generation system to effectively solve the shortcomings of solar power generation's intermittency, high volatility, and low controllability, and solve the problem of power generation continuity. and the intermittency of power consumption, to achieve stable operation of power on the power generation side, grid side and user side. With the rapid growth of solar installed capacity, the "light abandonment problem" caused by the volatility characteristics of solar power generation has become increasingly prominent. The use of energy storage systems will become a key element for large-scale solar applications and energy structure transformation.
3. String inverter market share increases
In recent years, the solar inverter market has been dominated by centralized inverters and string inverters. String inverters are mainly used in distributed solar power generation systems. They are flexible in installation, highly intelligent, and easy to install. High maintenance and safety features. With the continuous advancement of technology, the cost of string inverters continues to decrease, and the power generation power has gradually approached that of centralized inverters. With the widespread application of distributed solar power generation, the market share of string inverters has shown an overall upward trend and has surpassed centralized inverters to become the current mainstream application product.
4. Demand for new installed capacity coexists with demand for inventory replacement
solar inverters contain printed circuit boards, capacitors, inductors, IGBTs and other electronic components. As the use time increases, the aging and wear of various components will gradually appear, and the probability of inverter failure will also increase. Then it improves. According to the calculation model of the authoritative third-party certification agency DNV, the service life of string inverters is usually 10-12 years, and more than half of string inverters need to be replaced within 14 years (central inverters need replacement parts). The operating life of solar modules generally exceeds 20 years, so the inverter often needs to be replaced during the entire life cycle of the solar power generation system.