The U.S. residential solar energy market just had its best quarter ever, installing over 712 megawatts of solar power. The growth is diversifying across the U.S. solar energy markets, especially the solar power inverter market.
Most of the solar power inverter suppliers are befitting from this residential solar panel installation boom. Two solar power inverter suppliers are leading the market. The latest Wood Mackenzie U.S. PV leaderboard report, SolarEdge solar power inverters were used on 60.5% of U.S. residential solar panel installations, through the first three quarters of 2019. Making it more than triple SolarEdge’s closest competitor, Enphase, with its 19.2% market share.
This is a huge change from 2013 when SolarEdge had only 4.5 percent market shares and was ranked fifth behind the then leader ABB, Enphase, SMA and Fronius.
One of the reasons that SolarEdge and Enphase are dominating the market is because of the new strategies that they are adopting. SolarEdge is unique because it is pairing residential single-phase solar power Inverters with DC Optimizers and Enphase manufacturers microinverters.
Another change the solar companies have made that has helped them succeed, is both of the solar companies have launched home energy solution platforms. SolarEdge has also made a third acquisition, an uninterruptible power supply company - a business that is not directly related to the solar power inverter space but is still a growing market.
SolarEdge has also built out a virtual power plant software offering compatible with all solar companies' solar power inverter technologies, not just their own, and they also launched StorEdge.
Enphase has also made a few strategic partnerships to build out its ac module business, including partnerships with SunPower, LG, Panasonic, and Solaria. They plan on continuing developing its home energy storage solution.
Both Enphase and SolarEdge have captured the majority of the U.S. Residential solar energy market due to their innovative and forward-looking moves that have put them in a position to meet the growing demand for holistic energy services.
Do you think Enphase and Solaredge’s success will continue in 2020? Comment below and let us know!
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