Solis Consolidates Position As No. 3 Inverter Major Worldwide

By Saur News Bureau/ Updated On Tue, Jul 11th, 2023

Ningbo, China based inverter major Ginlong(Solis) Technologies (the company), which broke into the top 3 ranking of inverter sellers last year, has consolidated its position further during the year, maintaining its ranking for a second consecutive year.

For Solis, as it is called outside China, the ascent to no. 3 has been marked with a string of awards and accolades over the past 18 months. It picked up the “top inverter brand 2023” seal for Belgium by respected global market research organisation, EUPD last week after gaining the same status for its performance in the Netherlands and South Africa. This marks the eighth year running in which Solis has been recognised by EUPD, based on 100,000 interviews across more than 50 countries.

Reflecting on the company’s performance in 2022 and beyond, Sandy Woodward, Solis General Manager Europe and South Africa, said: “I am delighted that Solis has been ranked so highly for another year, and that we have maintained our position as the world’s third largest inverter manufacturer. I’m particularly proud of our progress during 2022 in the energy storage inverter segment, in which Solis achieved year-on year growth of more than 500 percent; accounting for 18 percent of our total operating revenue.

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“This remarkable expansion can be attributed first and foremost to our dedicated team of more than 4500 people across all the major continents, but also to our high brand recognition, strong channel competitiveness and deep commitment to R&D.”

In 2022, the company’s R&D expenditure increased significantly by 74 percent, reaching a total investment of USD 45 million. Solis currently has an annual production capacity of 40GW, which is scheduled to double to 80GW in July 2023.

Established in 2005, and listed on the Shenzhen Stock Exchange Ginlong (Solis) Technologies has had a strong run in the past 5 years, gaining market share and spreading out to newer markets very successfully. The company has a strong presence in India as well, with performance that reflects its global stature today.