Sungrow s energy storage shipments in the third quarter

Does Sungrow Power Supply have a global market share in 2022?

SunGrow Power Supply, having the largest market share among global energy storage system integrators in 2022, exemplifies a successful expansion into overseas markets. Alongside SunGrow, companies like BYD and Hithium are rapidly exploring international opportunities.

Is Sungrow a good supplier of energy storage systems?

While best known for its solar inverters, Sungrow also stands out as a leading supplier of energy storage systems. According to the China Energy Storage Alliance, Sungrow was the largest Chinese supplier of energy storage systems in 2023 on a global shipment basis.

Is Sungrow a good investment?

Sungrow has been visionary in its investment decisions. It was one of the earliest Chinese companies to invest in solar inverters while the industry was dominated by European peers. It also started early with energy storage research and became a top supplier of energy storage systems when the energy storage market boomed over the last few years.

Will Sungrow's solar inverter shipment grow?

Nonetheless, we expect Sungrow’s solar inverter shipment to grow at a 15% CAGR over our projected five-year period given rapid growth in solar installations. While best known for its solar inverters, Sungrow also stands out as a leading supplier of energy storage systems.

How did Sungrow start?

It also started early with energy storage research and became a top supplier of energy storage systems when the energy storage market boomed over the last few years. Sungrow has been focused on the new energy industry.

How much money did Sungrow make in 2023?

According to its third-quarter report in 2023, Sungrow’s revenue reached approximately $6.47 billion (464.15 billion yuan), up by 108.85% year-on-year, with net profit attributable to the parent company at about $1 billion (72.23 billion yuan), a staggering increase of 250.53% from the previous year.