Zhejiang, China, 21 January 2021- 2020 is deemed to be a year that is hard to forget. It witnessed COVID-19 sweeping the world, and the global economy faltered. However, in China, new solar PV installations were up to 48.2GW in 2020, a 55% year-on-year increase. Among leading global inverter manufactures, there is a one that achieved a 74% revenue increase and a 188% profit increase in the first three quarters of 2020. That manufacturer is Solis; read on for some of the reasons behind Solis' rapid growth.
The secrets of Solis' success during adversity may be attributed to three major things. First and foremost, its sharp market observation and ability to adapt quickly became apparent at the end of 2019, with the emergence of the "solar + industry" sector. Distributed solar PV on Commercial & Industrial rooftops exploded. Solis launched its latest 5th generation 5G inverter technology platform, smoothly occupying a distributed dominant position in the year.
Secondly, service plays the most significant role in business reputation. As a leading supplier of string inverters, Solis combines market and customer needs as its core mission, providing customized products and services. The annual audit of five-star commodities, a seven-star rating in the Customer Satisfaction Index Evaluation, alongside 20 after-sales service centers globally all testament to Solis' commitment to its customers. According to research, Solis improved its ranking from Top 10 in 2019 to Top 5 in 2020 Q3 in shipments within the global string inverter sector, and its global market share has almost doubled. At present, the IPO to expand production is under construction and expected to be put into production in 2021 Q2. The new project to raise money for 400k sets string inverters expansion is also approved and will further increase supply capacity.
"Solis has always put innovation and development as its starting point, and continuously improved its ability to respond to domestic and foreign market demands." said Mr. Zhang- Chief Product Manager at Solis Global HQ. Solis products have been exported all over the world. It has been rated as the world's top PV brand. Solis remains focused on product and innovation following the public listing in March 2019. R&D investment increased by more than 100% year on year in the first three quarters of 2020. Recently, the National Development and Reform Commission in China identified Solis as the national enterprise technology center.
Solis inverters have been installed in some of the world's largest and most iconic buildings. Solis carbon footprint is moving forward with high quality. and in partnership with Sinopec, heralded a brand-new green energy solution and also supplies (215-255)kW string inverters for World's largest Tidal-flat 300MW utility scale solar PV plant.
Mr. Yiming Wang, President of Solis, expressed that "2020 has come to an end, and we have heard the clarion call of 2021. In the future, Solis will continue to be guided by the rapidly growing market, relying on strong R&D capabilities, advanced production equipment, and is committed to providing users with worry-free products."
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About Ginlong Technologies
Established in 2005, Ginlong Technologies (Stock Code: 300763.SZ) is one of the most experienced and largest manufacturers of PV string inverters. Presented under the Solis brand, the company's portfolio uses innovative string inverter technology to deliver first-class reliability that has been validated under the most stringent international certifications. Armed with a global supply chain, world-class R&D and manufacturing capabilities, Ginlong optimizes its Solis inverters for each regional market, servicing and supporting its customers with its team of local experts. For more information on how cost-effective Solis delivers value while maximizing reliability for residential, commercial, and utility customers, go to solisinverters.com.