China Photovoltaics analyzed publicly traded inverter manufacturers using balance sheet models and publicly available financial information to track their financial strength over the past three years. The top five in the latest ranking included Hemai Power Electronics, Enphase, Costa, Eaton and Goodwe.
China Photovoltaic, a Hong Kong-based technical compliance and quality assurance services company, has published the second edition of the financial strength ranking of Chinese photovoltaic inverter manufacturers. The company said the results, calculated since June 2020, provide insight into the stability of estimates over time. The report covers the entire world and is available for free download.
China PV’s financial strength rating is based on the so-called Altman Z-score, a quantitative formula that uses multiple values of corporate earnings and balance sheet to assess a company’s financial health. According to China Solar, it evaluates a company’s financial strength through credit tests based on profitability, leverage, liquidity, solvency and activity.
A score of 1.1 or lower indicates a higher likelihood of bankruptcy within the next two years, while a score of 2.6 or higher indicates a higher likelihood of bankruptcy.
Leading inverter manufacturers include China’s Hoymiles Power Electronics, US microinverter specialist Enphase Energy, Shenzhen’s Costar Technology, Ireland’s energy management specialist Eaton, China’s Goodwe and Sinexcel, Taiwan’s Delta Electronics, Clenergy and Hopewind. Chinese and Swiss ABB.
“Overall, the global PV inverter market is growing steadily with the increasing number of solar PV installations worldwide. In this regard, in the China PV Manufacturer Ranking report, we see that the vast majority of inverter manufacturers have good or good financial health. stable,” said Niklas Weimar, CTO of China Photovoltaics Magazine, adding that there are two trends in inverter manufacturing that are worth paying attention to. noticed.
Next week’s May issue of PV magazine will look at the global polysilicon glut and the Chinese financial crisis, look at the booming solar glass industry in the US, provide a reader’s update on the latest advances in perovskites, and look at how to survive when the bullets start firing. .Develop photovoltaics. flight. All this plus specialties from Turkey, Italy, Azerbaijan and other countries.
Weimar said: “One trend is that Chinese inverter makers are surpassing their European and US counterparts in global market share, with Sungrow and Huawei’s market share exceeding 50%.”
Another trend is that inverter makers, with Sungrow also leading the way in megawatt-hour supply, are “moving into battery production,” Weimar said, along with many PV module makers.
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Post time: May-10-2024