Photovoltaic (PV) Inverters: Market Research Report

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Photovoltaic (PV) Inverters: Market Research Report Date: Pages: Price: ID:

August 1, 2012 903 US$ 4,600.00 PAA485BD0B1EN

This report analyzes the worldwide markets for Photovoltaic (PV) Inverters in Megawatts. The report provides separate comprehensive analytics for the US, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2010 through 2018. Also, a six-year historic analysis is provided for these markets. The report profiles 242 companies including many key and niche players such as Advanced Energy Industries, Inc., Electronica Santerno SpA, Enphase Energy, Inc., Fronius International GmbH, Ingeteam Corporacion, S.A, KACO New Energy GmbH, Phoenixtec Power Co.Ltd., Power-One, Inc., Satcon Technology Corp., Schneider Electric SA, Siemens AG, SMA Solar Technology AG, and Sputnik Engineering International AG. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.

Table of Content I.INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS Study Reliability and Reporting Limitations Disclaimers Data Interpretation & Reporting Level Quantitative Techniques & Analytics Product Definitions and Scope of Study Stand-Alone PV Inverters Grid-Connected/Grid-Tied PV Inverters Battery Backup PV Inverters II. EXECUTIVE SUMMARY 1.INDUSTRY OVERVIEW A Primer Figure 1: Operating Model of PV Power Generation Industry Figure 2: Components of PV Systems

Table 1. Worldwide Photovoltaic (PV) Systems Sales (2011): Percentage Breakdown of Revenues by Industry Segments- PV Modules, Systems Planning, Engineering & Services, Balance of System (BOS) Components & Inverters, and Others (includes corresponding Graph/Chart)

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Table 2. Worldwide PV Inverters Market (2012): Cost Breakdown of PV Inverters by Major Hardware and Processing Segments (includes corresponding Graph/Chart) Table 3. Worldwide PV Inverters Market (2012): Cost Breakdown of PV Inverter Electronics by Components (includes corresponding Graph/Chart) Outlook Impact of Eurodebt Crisis Electronics Components Industry Choked by Eurocrisis and Asian Calamities Recovery Anticipated in Near Term Eurocrisis Impels CE Industry Production Towards Central Europe 2.MAJOR GLOBAL TRENDS Government Commitment for Solar Power Drives PV Inverter Demand PV Inverter Market Powers On Despite Euro Crisis Changing Market Dynamics Clips Prices of PV Inverter 'Smart' PV Inverters to Climb Small 3-Phase String and Megawatt PV Inverters Grab Spotlight

Table 4. Global Grid-Tied PV Inverter Shipments (2011 & 2014^): Percentage Breakdown of Shipment Volumes by Product Segments – String, Standard Central, Multi-String, and Turn-Key Inverter Systems (includes corresponding Graph/Chart) Power Supplies and UPS Vendors Latch onto PV Inverter Success Manufacturers Stressed to Lower PV Inverter Prices Warranties and Service Segment to Outpace Hardware Market Affinity for Power Optimizers and Microinverters Grows 3.PRODUCT OVERVIEW Photovoltaic Inverters Stand-Alone PV Inverters Grid-Tie PV Inverters Battery Backup PV Inverters Microinverters 4.RECENT INDUSTRY ACTIVITY SolarBridge Technologies Partners with Solartec Energia Renovable Sungrow Secures A-Grade from Photon for SG15KTL PV Inverter REgeneration Finance Selects Inverters from Advanced Energy Ingeteam Provides Ingecon Sun 500HE TL Inverters Power-One Installs AURORA® Solar Power Inverters SMA Solar Technology Acquires dtw Sungrow Collaborates with CGNPC for Tin Iron Mountain Project Sungrow Power Supply Signs Agreement with Guodian Longyuan Electrical Siemens Energy Secures PV Plants Contract from Viridis Energia SunPower Collaborates with SolarBridge Technologies for AC Solar Panels SolarBridge Technologies Receives US$2.3 Million Grant from DOE Eaton Phoenixtec to Manufacture UPS Systems Motech’s PV Inverter Shipments to Increase Maui Solar Selects Commercial Inverter Range of Advanced Energy Power-One Commences Shipments of Inverter Products

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Power-One Secures CSA-UL1741 Approval for AURORA® Satcon Technology Secures Contract for Tauberlandpark Solar PV Project AEG Power to Launch First Manufacturing Unit SolarEdge Unveils New Production Line for US Market ABB Establishes New String PV Inverter Production Line Siemens’ Burlington Plant Commences Production of SINVERT PV Inverters Zachry Industrial Selects Advanced Energy’s Solaron® Inverters and SafeGuard® SolarEdge Technologies Expands Collaboration with Flextronics Direct Grid to Integrate Echelon’s Energy Control Networking into Microinverters Solectria Renewables to Execute DOE’s Smart-Grid PV Inverters Program SMA Solar Technology Establishes Subsidiary in India Su-Kam Signs Agreement for Distribution with Toshiba Mitsubishi Electric AEG Power Solutions to Set Up Key Solar Projects in India Sunvalley Solar and Ken Vong Farms Ink Contract SMA Technology Commissions Solar Inverter Center Siemens Industry Refurbishes Manufacturing Plant in West Chicago Skytron Energy Receives Equipment Contract for 45MW PV Plant Siemens Industry Inks Contract with Interconnect Solar Development KACO New Energy Partners with Sanmina-SCI for US Manufacturing Services KACO New Energy Establishes Solar Inverter Production Plant Satcon Equinox Prism Platform Obtains Efficiency Certification Solar Cells Hellas Selects Satcon Technology for Inverter Solutions Delta Energy Systems Acquires SOLON Inverters Advanced Energy Acquires PV Powered Advanced Energy to Expand Operations Recurrent Energy Selects Advanced Energy Solaron® PV Inverters KACO New Energy to Establish Solar Inverter Facilities in North America OZZ Solar Chooses Satcon Technology to Supply Solar Inverters GCL Solar Selects Satcon Technology to Supply Solar Inverters Siemens Energy Bags PV Plant Construction Contract from D.P.E.S. Siemens Energy Receives Contract from Ital Green Energy Celestica Signs Manufacturing Agreement with SolarBridge Technologies Sungrow Secures Supply Contract from Third Design Institution Power-One Establishes Power-One Phoenix Facility Satcon Enters into Strategic Manufacturing Alliance with GCL Solar Sustainable Energy to Supply SUNERGY Inverters to 244 Ontario Mico-FIT Projects Advanced Energy Establishes First Grid Connection in Europe Sustainable Energy and Bosch Solar Energy Enters into a Partnership Deal Mitsubishi Electric Installs 191kW PV System at Nabeya-ueno Waterworks Satcon Chosen by SCE for Solar Photovoltaic Program Satcon to Deliver 18MW PowerGate Plus Inverters to OZZ Solar Satcon to Supply PowerGate Plus Solar PV Inverters to ENERGY 21 Advanced Energy’s Solaron PV Inverters Selected by Recurrent Energy Sunvalley Solar Signs a Distribution Partnership Deal with CED GreenTech EasyPower Selects Satcon for Solar PV Inverters Obsidian Selects PowerVault Medium Voltage Inverter Platform of PV Powered SMA Solar Technology Acquires Module Inverter Technology Mitsubishi Electric to Introduce Photovoltaic Inverters in North America 5.PRODUCT INTRODUCTIONS Satcon Technology Unveils Equinox LCTM Inverters Power-One to Unveil New Micro Inverters Satcon Rolls Out Equinox 625 kW Inverter SolarBridge Technologies Launches PantheonTM

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Advanced Energy Industries to Introduce Solaron® 500E HE Inverter Power-One Launches AURORA ULTRA-1400 Central Inverter Power-One Rolls Out AURORA MICRO-0.3 Inverter and OPTI-0.3 Power Optimizer Power-One Introduces Redesigned Version of AURORA UNO-2.0 Inverter Power-One Launches AURORA TRIO 20.0-TL and 27.6-TL Inverters Advanced Energy Unveils PV Powered HE String Inverters SolarBridge Technologies Introduces Microinverters Power-One Rolls Out Solar PV Inverters AEG Power Solutions Unveils PV.500 Solar Inverter in the US Sustainable Energy Launches PARALEX 5000C60 and 5000A60 Sustainable Energy Unveils 240 Volt Inverter SolarBridge Introduces AC Module System for Microinverter Eltek Valere Launches Theia HE-t Series Inverter Enfinity Unveils 7 Electricity Inverters and 3 BIPV Systems Enecsys Launches a New 480W Microinverter Power-One to Unveil New Products of the AURORA® Range KACO New Energy Launches New Solar PV Inverters in the XP Series Power-One Unveils a DC/DC Power Optimizer and a 300W Microinverter Motech Unveils PVMate 15E~20E AROS Unveils SIRIO 10000P AE Unveils Stainless Steel PV Inverters Enecsys Unveils SMI-D480W-60 Delta Launches Central Inverter SOLIVIA CL 200 for Large-Scale PV Plants Motech Launches Wew PV Inverter KACO New Energy Unveils blueplanet XP10U-H410kW Inverter AETI Introduces New Models in ISIS 1000 Line KACO Launches New Powador Central Inverters Satcon Introduces Equinox™ Power Converter SMA Solar Technology Launches Sunny Boy 3000HF Power-One Introduces Dedicated Central Inverter KACO to Unveil New Three Phase Inverter Models Mitsubishi Electric Develops High Output PV Inverter Technology Carlo Gavazzi Introduces Single and Three-Phase PV Inverters Enecsys Introduces PV Micro-Inverter for North America and Europe Satcon Technology Introduces Satcon Equinox Sputnik Launches Series of Central Solar Powered Inverter Series SMA Introduces New HE Inverters Power-One Introduces PVI-250 and PVI-300 Inverters PV Powered Unveils New Solar PV Inverters Advanced Energy and PV Powered Jointly Launch PV Inverters Enecsys Releases Solar PV Micro-Inverters in North America and Europe Fronius Launches CL PV Central Inverter Advanced Energy® Launches Solaron® 250 ABB to Launch Solar Inverter PVS800 Siemens Launches Sinvert PVS35OT UL Xantrex Introduces Xantrex GT500E and Xantrex GT250E 6.FOCUS ON SELECT GLOBAL PLAYERS Advanced Energy Industries, Inc. (USA) Electronica Santerno SpA (Italy) Enphase Energy, Inc. (USA) Fronius International GmbH (Austria) Ingeteam Corporacion, S.A (Spain) KACO New Energy GmbH (Germany)

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Phoenixtec Power Co. Ltd (Taiwan) Power-One, Inc. (USA) Satcon Technology Corp. (USA) Schneider Electric SA (France) Siemens AG (Germany) SMA Solar Technology AG (Germany) Sputnik Engineering International AG (Switzerland) 7.GLOBAL MARKET PERSPECTIVE

Table 5. World Recent Past, Current & Future Analysis for PV Inverters by Geographic Region – US, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 6. World Historic Review for PV Inverters by Geographic Region – US, Japan, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) Table 7. World 15-Year Perspective for PV Inverters– Percentage Breakdown of Shipment Capacities by Geographic Region – US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III. MARKET 1.THE UNITED STATES A. Market Analysis Outlook US PV Inverter Industry – A Snapshot

Table 8. US PV Inverter Market (2011): Percentage Breakdown of Revenues by Players- Foreign and Domestic (includes corresponding Graph/Chart) Table 9. US PV Inverter Market (2011): Percentage Breakdown of Revenues of Domestic Players by End-use Segments - Residential, Commercial and Utility (includes corresponding Graph/Chart) Strategic Corporate Developments Product Introductions Key Players B. Market Analytics

Table 10. The US Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 11. The US Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 2.JAPAN A. Market Analysis Outlook Major Trend

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Tsunami Leaves IGBT Output Virtually Untouched Strategic Corporate Developments Product Introductions B. Market Analytics

Table 12. Japanese Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 13. Japanese Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3.EUROPE A. Market Analysis Outlook Major Trends European Manufacturers Capitalize on Strong Domestic Demand Supply Disruptions Rock European PV Inverter Industry B. Market Analytics

Table 14. European Recent Past, Current & Future Analysis for PV Inverters by Geographic Region – France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 15. European Historic Review for PV Inverters by Geographic Region – France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) Table 16. European 15-Year Perspective for PV Inverters– Percentage Breakdown of Shipment Capacities by Geographic Region – France, Germany, Italy, UK, Spain, Russia and Rest of Europe for Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) 3A.FRANCE A. Market Analysis Outlook Key Player B. Market Analytics

Table 17. French Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 18. French Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3B.GERMANY A. Market Analysis Outlook

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Table 19. German Inverter Production (2010 & 2020): Percentage Breakdown of Production Volume by End-use Market - Domestic and Foreign (includes corresponding Graph/Chart) Strategic Corporate Developments Product Introductions Key Players B. Market Analytics

Table 20. German Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 21. German Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3C.ITALY A. Market Analysis Outlook Strategic Corporate Developments Product Introductions Key Player B. Market Analytics

Table 22. Italian Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 23. Italian Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3D.THE UNITED KINGDOM A. Market Analysis Outlook Product Introductions B. Market Analytics

Table 24. The UK Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 25. The UK Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3E.SPAIN A. Market Analysis Outlook Market Trend Spanish FIT Rollback Creates Bubble in Europe Strategic Corporate Development Key Player B. Market Analytics

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Table 26. Spanish Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 27. Spanish Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 3F.REST OF EUROPE A. Market Analysis Outlook Strategic Corporate Development Product Introductions Key Players B. Market Analytics

Table 28. Rest of European Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 29. Rest of European Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 4.ASIA-PACIFIC A. Market Analysis Outlook Market Trends Chinese Government Rescues Domestic PV Industry Chinese Government Support Bolsters PV Inverter Production Taiwan to Emerge as Major Contract Manufacturing Hub Strategic Corporate Developments Product Introductions Key Players B. Market Analytics

Table 30. Asia-Pacific Recent Past, Current & Future Analysis for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 31. Asia-Pacific Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) 5.REST OF WORLD A. Market Analysis Outlook Strategic Corporate Developments Product Introductions B. Market Analytics

Table 32. Rest of World Recent Past, Current & Future Analysis for PV Inverters Market Independently

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Analyzed with Shipment Capacities in Megawatts for Years 2010 through 2018 (includes corresponding Graph/Chart) Table 33. Rest of World Historic Review for PV Inverters Market Independently Analyzed with Shipment Capacities in Megawatts for Years 2004 through 2009 (includes corresponding Graph/Chart) IV. COMPETITIVE LANDSCAPE Total Companies Profiled: 242 (including Divisions/Subsidiaries - 252) The United States (34) Canada (4) Japan (7) Europe (66) France (1) Germany (23) The United Kingdom (1) Italy (17) Spain (9) Rest of Europe (15) Asia-Pacific (Excluding Japan) (138) Latin America (2) Africa (1)

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