Solar-inverter-shipments-hit-Q3-record

Solar inverter shipments grew by 50% in Q3 2010 to reach 7.3GW — another record quarter for the industry that peaked at 5GW the previous quarter, according to IMS Research. But look for a slower Q4, as “a sharp correction seems inevitable.”

(November 29, 2010)Solar inverter shipments grew by 50% in Q3 2010 to reach 7.3GW — another record  quarter for the industry that peaked at 5GW the previous quarter (see Q2 numbers here), according to IMS Research’s recently released report on the global solar photovoltaics market.

According to IMS Research, whilst the majority these shipments were for installations in Germany, growth slowed substantially in this region and the biggest contributors to the market’s huge increase were Italy and Asia. Other European markets also fared well and have grown by more than 300% year-on-year.

EMEA accounted for around 80% of inverter shipments in Q3’10, down from 90% the previous quarter, partly driven by high growth of the Americas market, which is estimated to have doubled in size from the same period last year. Indeed, all regions recorded impressive growth, generating more than $2 billion in revenues for suppliers during the quarter.

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“Again we are referring to a record quarter for inverter suppliers with the previous record of 5 GW of shipments in Q2’10 being beaten by almost 50% in Q3’10,” said PV analyst Tom Haddon, adding that Q4 however is likely to be a much weaker quarter, as Germany, the largest market, continues to slow. Additionally, significant inventory now exists in the supply chain and a sharp correction seems inevitable.”

For the second consecutive quarter, IMS Research’s analysis found factory-gate inverter prices fell due to the continuing shift towards larger inverters, which have an inherently lower price per Watt.

With such a strong quarter for the whole industry, many firms may have increased shipments but lost overall market share. However, Satcon was one of the standout performers of the quarter increasing its share in both the Americas and global market. SMA, which dominates the market continued to lose further share in Q3, despite a record quarter and a big improvement in its supply problems. 

IMS Research provides regular reports and market intelligence for the solar inverter industry. Learn more at www.PVMarketResearch.com 

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