Prospects of sungrow s energy storage business

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.

Why is Sungrow a leading solar company?

The company has witnessed a remarkable surge in PV inverter shipments, surpassing 130GW, indicating a widespread embrace of solar energy globally. Furthermore, Sungrow’s sales of energy storage systems have escalated dramatically to 10.5GWh, driven by the escalating demand for both grid-connected and off-grid applications.

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.

How big is Sungrow's energy storage system shipments in 2023?

According to CNESA's 2023 global energy storage system shipment rankings, Sungrow's global energy storage system shipments reached 10.5 GWh, maintaining the top position among Chinese enterprises for the eighth consecutive year. source：TrendForce

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.

What percentage of Sungrow's revenue will come from solar inverter sales?

Energy storage system sales accounted for 25% of revenue in 2023, but we project it to contribute 36% of revenue in 2028, above our 34% forecast for solar inverter sales. Sungrow also runs a large new energy investment and development business, representing 34% of revenue in 2023.