On March 20, Growatt officially updated its prospectus and disclosed its business performance in 2022. According to the prospectus, the company generated revenue of 7.093 billion yuan, up 122 percent year on year; Last year, the net profit of the parent was 1.640.9 billion yuan, the revenue and net profit data significantly ahead of a number of listed optical storage inverter enterprises have approved the performance. According to the latest financial report, from 2020 to 2022, the revenue of Growatt is 1.893 billion yuan, 3.94 billion yuan and 7.093 billion yuan, with a year-on-year growth of 122% in 2022. During the same period, the company's net profit was 366 million yuan, 573 million yuan and 1.64 billion yuan, with net profit margins of 19.3 percent, 17.9 percent and 23.12 percent, respectively. Founded in 2011 in Shenzhen, China, Growatt designs, develops and manufactures photovoltaic inverters, as well as energy storage systems, and sells them primarily to home and commercial end users around the world, according to the prospectus. According to Forrester Sullivan, in 2021, the company will be the world's third largest supplier of PV inverters by capacity (gigawatts) shipped, with a 6.8% market share, and number one in the residential PV inverter segment with a 19.9% market share. According to the prospectus, energy storage accounted for 11.3% of Growatt's revenue in 2020 and 40.3% in 2022, generating a whopping $2.86 billion in revenue. The revenue of battery packs reached 1.297 billion yuan, accounting for 18.3 percent. In the same period last year, the company's energy storage system revenue increased 326.7% from the same period last year. The global market's demand for energy independence, the surging price of electricity in Europe, and the increasing demand for electricity caused by the gradual replacement of oil vehicles by new energy vehicles will all be the driving force for the sustained growth of the future optical storage market. With an earlier and more comprehensive layout in the field of optical storage and the accumulation of technologies and brands, Growatt will undoubtedly become a big winner in the global energy storage market.

In order to create the ultimate cost-effective product, SunEvo Solar launched a new generation of ultra-high efficiency modules, the Evo 6 Pro HJT bifacial series. The new series integrates 210mm silicon wafers, with HJT, bifacial, multi-busbar cell technology and high-density encapsulation. The maximum power output on the front side of the two formats, 60 and 66, maximum output power reach 700W. Meanwhile, based on different installation environments, the rear side power generation gain is between 10-30%.

SunEvo Solar is delighted to announce that it has been granted INMETRO certification for the sale of SunEvo solar PV modules in Brazil. After extensive testing by the world renowned Photovoltaic-Institute, SunEvo solar modules have met all the testing criteria set by INMETRO in Brazil. “This is an important moment for SunEvo as the company is set for major expansion into the Brazilian market now that the INMETRO certification has been granted” said Eric, SunEvo founder. SunEvo sees Brazil as a significant growth market for solar PV in the immediate future. SunEvo-Solar-Panel-Inmetro-Label About INMETRO In addition to demonstrating compliance to international standards, manufacturers of PV modules , power inverters and solar thermal components who export their products to Brazil also need to fulfil minimum efficiency requirements. Therefore, two important points regarding the import process for solar components that are provided in the guideline issued by the Rio de Janeiro Chamber of Commerce and Industry are to be considered: Goods may only be imported by companies that are registered with the Brazilian tax authority and whose articles of association include the trade and distribution of products. In addition to the fulfilment of international standards concerning type approval and safety requirements, the efficiency of modules, power inverters, solar thermal collectors and batteries shall be verified by an accredited laboratory. “Although we are talking about energy generators or transducers here, the energy efficiency labels awarded are similar to those for refrigerators,” Althaus says. Products with a low energy efficiency level must not be imported. INMETRO, the National Institute of Metrology, Quality and Technology, is responsible for the accreditation of laboratories in Brazil. Previously, only results provided by laboratories based in Brazil (e. g. university laboratories) were approved. Now, laboratories outside of Brazil may also test products to be marketed in the country. 

Polysilicon Polysilicon prices had carried on with a minor inflation tendency this week, with overall mono polysilicon quotation sitting at roughly RMB 247/kg. Most polysilicon orders for March have been signed, and this week saw the signing of sporadic orders from partial polysilicon businesses, where the higher concluded prices for these sporadic orders are prolonging the inflation trend of polysilicon prices. An observation on the production, operation, and shipment status of the polysilicon sector indicates that partial businesses are still under overhaul for their individual production lines, while overhaul and logistic issues from overseas polysilicon businesses are also going to affect the provision of polysilicon. Coupling with the worse-than-expected release of expanded capacity, as well as the higher operating rate maintained by the wafer end, and the obstinately high level of demand, polysilicon is expected to carry on with the excess demand status within the short term, followed by a possible minor increase in prices. Wafers Wafer prices had remained largely stable this week, with minor increase in M6 and G12. M6, M10, and G12 were concluded at a respective mainstream price of roughly RMB 5.5/pc, RMB 6.64/pc, and RMB 8.86/pc (increase of 1.26%). Downstream cell businesses have been relatively aggressive in procurement alongside the gradual activation of PV projects from domestic and overseas markets recently, while the market persists in wafer demand on top of centralization of orders. The excess demand status remains apparent for wafers due to insufficient polysilicon provision as well as constrained production and logistics due to the pandemic, and the increment of prices for partial sporadic orders is evident. Cells Cell prices had carried on this week with the prices of last week under a predominantly sturdy level. Mono-Si M6, M10, and G12 cells were concluded at a respective mainstream price of approximately RMB 1.1/W, RMB 1.14/W, and RMB 1.15/W this week. Cell orders have become centralized alongside the steady commencement of PV projects from the domestic and overseas markets, and market transactions have dropped compared to the previous period after cell quotations had gone up last week, where the impeded transfer of cost pressure from the cell end has resulted in a reluctant attitude among several module makers. Market acceptance has slightly increased after inflation, and a climbing tendency is seen from the concluded prices of a small segment of orders. In terms of multi-Si cells, there were fewer new concluded orders this week, which may further diminish the scale of the multi-Si market. Modules Module prices remained stable this week, where mono-Si 166mm, 182mm, and 210mm modules were concluded at a respective mainstream price of roughly RMB 1.85/W, RMB 1.88/W, and RMB 1.88/W. Module makers remained under the inflation pressure of main and auxiliary materials from the industry chain, as well as the acceptance of end proje...

The floating PV plant will be built in several reservoirs, with a total of 1.94 million pieces of PV modules installed. Ciel & Terre is expected to complete the construction in 4Q17. All of the floating platforms will be made in China, which can reduce the transportation cost and the carbon footprint of the project itself. Ciel & Terre will use Hydrelio technology solution for the floating platform of this 70MW project. Back in 2016, China’s National Energy Administration (NEA) has come up with 1GW bid for floating PV plants. This 70MW project is also the second-largest winning bid for Ciel & Terre. Now, Ciel & Terre has completed grid-connection for more than 85MW of floating PV plants. Once the 70MW project is completed, this will be the world’s largest floating PV plant ever since JA and Sungrow provided modules and inverters, respectively, to a 40MW floating PV plant in Anhui Province.

Traditional energy is gradually depleted and global warming is getting worse. Building renewable and sustainable energy systems has become a global consensus. As a significant segment of clean energy, the development potential of PV should not be underestimated. According to EnergyTrend, there would be 200-220 GW new installed capacity and 80-85MT polysilicon capacity including 20-30 MT new capacity come online in 2022. The supply and the demand of polysilicon would in structural tight equilibrium. Considering of production release, dual control policy, and facilities maintenance, the new capacity of polysilicon is limited in 2022 H1. It is because the limited capacity and the terminal rigid demand that the polysilicon will remain the tight balance and the price would maintain high. With the release of expanded capacity, the tight tendency would be alleviated at the end of 2022 Q2, and the price may usher in an inflection point and fall soon. Global newly installed capacity of photovoltaic in 2022 will increase by about 30% year-on-year, reaching 200-220GW. Under the background of global energy transition, the development of renewable energy is important. More than 130 countries have announced their carbon neutral targets. Some have adopted legislation to clarify their responsibilities in order to effectively address the crisis and challenges posed by climate change. The penetration rate of renewable energy is relatively low with broad development potential. In addition, PV has economic advantages. The levelized cost of energy (LCOE) is lower than traditional power. Thus, the market share of PV will continually increase. According to TrendForce’s analysts, in the context of global clean energy booming, there will be 150~170 GW new installed PV capacity in 2021. In 2022, it would increase by about 30% YOY and reach 200-220GW. There would be the structural tight equilibrium and a mismatch between the supply and the demand of polysilicon in 2022. According to expansion plans published by polysilicon enterprise, the global capacity is expected to reach 80-85 MT by the end of 2022. With the new added capacity coming on stream, supply and the demand of polysilicon will in a tight equilibrium and balanced structurally in 2022. In view of TrendForce, the new capacity of polysilicon is about 20-30 MT. Considering the impact of production ramp-up, dual control policy, and facilities maintenance, the polysilicon market will in a tight equilibrium and balanced structurally in 2022. Furthermore, the tight balance tendency would remain because of the limited supply and increasing terminal rigid demand. With the gradual release of expension capacity, The tightening trend will be eased in Q2 next year. The most of expansion projects would reach full production in 2022 Q2. The supply is expected to match the demand with a surplus. Compared with downstream industries, the capacity of polysilicon is the smallest. Becasue the expansion of polysilicon take longer tim...

The new coalition government succeeding former Prime Minister Merkel comprises the Social Democratic Party of Germany (SPD), The Greens, and Free Democratic Party (FDP). The Greens gained doubled seats in the parliament, indicating the coalition’s prioritizing measures against climate change, sending a positive signal to the renewable industry. Renewables are with vital importance in the coalition government’s battle against climate change. Presently in Germany, one fourth of electricity generation comes from coal-firing. The new coalition wishes to bring coal-firing to an earlier end by 2030, instead of the previously scheduled 2038 and, with economic and political clout it has in Europe, encourage other nations to follow suit. The new coalition has yet to make specific commitment by far, but the commitment is expected to ramp-up demand for renewables in the country. Also, Germany aims to raise renewables’ generation share from 40% to 80% by 2030. To attain this goal, the country needs to invest more in renewables, meaning more deployment of solar and onshore wind energies. Additionally, Germany is expected to have 15 million of EVs by 2030, advancing faster than the EU, which aims to produce solely zero emission vehicles from 2035 onward. As for the PV sector, the coalition government plans to add 142 GW more of PV capacity, raising it from the current 58 GW to 200 GW by 2030, entailing at least 15.8 GW of addition each year, as compared to the 5 GW annual increases in recent years. In the future, it may be mandatory for rooftops in Germany to be equipped with PV systems. The coalition government’s announcement means that relevant authorities must further upgrade grid networks, adjust renewable energy capacities allocated through tenders, provide stronger monetary support for the implementation of German Renewable Energy Sources Act (EEG), make customs supervision and control friendlier for long-term PPAs, and lift restrictions on newly added renewable energy generation. With Germany being the largest economy in Europe, the new coalition government not only drives up domestic demand for renewable energies, but also motivates other EU countries to embark on energy transition. The new government has pledged to wield its influence over other developed countries, setting more ambitious goals for reducing carbon emission and realizing energy transition.

In order to create the ultimate cost-effective product, SunEvo launched a new generation of ultra-high efficiency modules, the Evo 6 series. The new series integrates 210mm silicon wafers, with PERC, bifacial, multi-busbar cell technology and high-density encapsulation. The maximum power output on the front side of the two formats, 60 and 66, have both exceeded 600W. Meanwhile, based on different installation environments, the rear side power generation gain is between 10-30%.

SunEvo redefined the high-efficiency module series by integrating 166mm silicon wafers with multi-busbar and half-cut cell technologies. The maximum module efficiency of the new Evo 4 half-cell series is 20%, and the maximum power output is 475W. The multi-busbar improves the power generation performance of the cells, and the half-cell technology reduces losses caused by ribbon resistance, thereby improving the overall efficiency of the new Evo 4 series module by more than 5%. In addition, cutting cells in half also reduces the impact of micro-cracks and hot spot effects, allowing for dual performance and reliability improvements. Affected by a significant increase in product power, the application of the new Evo 4 series in large commercial and utility power stations can significantly reduce LCOE, BoS, EPC and land costs. Projects over 1MW can save at least 5% CAPEX per watt by using new Evo 4 series modules instead of standard modules.