The size of the inverter industry will exceed 100 billion will be born several Chaobaiyi large enterprises: inverter PV industry last a huge bonanza has not been fully tapped, the market will exceed 100 billion within five years, which will be the birth of a number of large enterprises in billions of sales volume, our aim is to find these companies; 
According to our calculations, the inverter current market size of about $ 43 billion, mainly by SMA and other European and American manufacturers dominated; 

2015, even taking into account the price decline, the market size will also be more than 100 billion yuan, is the photovoltaic components little over billions of sub-sub-industry competition winner is expected to become Chaobaiyi large companies. 
Sure there are several ten billion income scale enterprises in Chinese enterprises. 

Technical foundation: the inverter from the essence of power electronics products, production experience and technical level of domestic enterprises in the field of power electronics with a strong competitive; 

Cost advantage: only 70% of the cost of imported products; consider the human cost of reduced production inverter price if you take into account the decline in the cost of supporting materials, and cabinet, domestic inverter costs are expected to reach the 40% of the imports; 
Complementary advantages: China is already the world's largest manufacturer of solar cells, which is innate favorable conditions for the enterprises of the inverter. 

Our analysis of the competitive landscape of the industry of the grid tie inverter, the technical points, and compare the specific circumstances of the SMA inverter industry leading enterprises, we believe that Chinese enterprises to enter this field advantage, particularly in the manufacturing and cost advantages ; 

We believe that the inverter industry, the biggest bright spot is that the size of the potential market is huge, one hundred billion market enough to the birth of several exciting scale of tens of billions of large enterprises, more than ten million participants sales even hundreds of millions of dollars, which was able to become the leading enterprises in the industry, this would mean that more than ten times the size of the expansion of investment opportunities which should not be missed; 

Each system requires only half of the original micro-inverter, the product simplifies layout and planning of the system, reducing installation time and costs. Installation of the Enecsys Duo solar photovoltaic system will string inverter system has roughly the same cost, but according to the device configuration and operating environment, multi-output 5% to 20% of the electricity. 

When the components do not match, or if a PV module (or component part), reduced output due to shadows when using the Enecsys micro-power inverter PV building, the system will not encounter the situation drastically reduced production . The Enecsys Duo connected to the solar modules does not need to match or installed in the same plane, they can rotate around a different direction to run, in order to maximize use of the roof space, and does not impact on the overall system functions. 

Enecsys Duo micro reversal has a peak efficiency of 95% and the average efficiency of 93% to between minus 40C and 85C. The other the Enecsys miniature reversers, electrolytic capacitors and other low reliability of the original has been eliminated to ensure a life expectancy of more than 25 years. Using highly accelerated life testing, highly accelerated stress screening and IEC61215 accelerated life test (and test solar PV modules the same way), its reliability has been verified. 

The Enecsys detection system provides an online and real-time information on historical patterns, including the total electricity generated, solar modules individual performance and power. Enecsys micro-inverter is equipped with a powerful, built-in wireless system can be connected via a gateway to the Internet. 

Enecsys micro inverter for the North American (60Hz) and European (50Hz) grid system design. Related institutions approved by the Enecsys Duo micro-inverter is expected to be reached in March, when these products will be listed in the European market.

British He Tean (Ingeteam) through its dealer álvrezBeltrán, Basque Country, Spain's largest rooftop photovoltaic system provides a the Ingecon brand photovoltaic inverter. The scale of the rooftop PV system is three times before the region's largest photovoltaic system. 

The rooftop photovoltaic system located southern Basque Country Lantaron's industrial area. Rated power of 1 MW and an estimated annual generation of 1,321,000 kwh (the average consumption of 440 households), the annual reduction in carbon dioxide emissions by up to 857 tons. The construction of the whole system which lasted four months, the British He Tean (Ingeteam) Ingecon Sun500HETL photovoltaic inverter and 14 Ingecon Sun String Control type current monitoring equipment. 

British He Tean (Ingeteam) range from 2.5 to 840 kW PV grid tie inverter, in addition for stand-alone system Ingecon Sun Hybrid equipment suitable for small-scale wind power generation system the Ingecon Sun Wind Inverter - Output Power 2.5 to 6 kilowatts. , British He Tean (Ingeteam) has been providing customers with more than 2GWP products, and strengthen one position as the world's leading manufacturer of photovoltaic inverters. 

KSTAR Main UPS uninterruptible power supply, solar photovoltaic inverter, power inverter, mainland China is the largest local UPS R & D and production enterprises.2000-2010 domestic UPS sales to the leading edge, the eleventh consecutive year ranked the market share of domestic brands. In 2010, the company UPS sales reached 333,000 units in the mainland China market, accounted for 16.8% of the market share. In addition, the company's products are exported to foreign countries, covering Asia, Europe, North America, Africa, more than eighty countries and regional markets. 

Uninterruptible power supply (UPS) as a back-up power, the main function is to ensure continuous power supply when the main power supply is interrupted, prevent vital equipment because electricity interruption losses, including information equipment with UPS and industrial power UPS for downstream applications. 

Information equipment downstream of the UPS room data centers, including financial services, communications, government, transportation, etc., including financial and telecommunications industry is the main consumer industries UPS power. The company's products are basically information device with the UPS in recent years, with the rapid expansion of the improvement in the level of the government information technology and banks and other financial institutions, UPS power market space expanded rapidly, according to the authority is expected to UPS domestic power demand increase in the future speed will remain at about 10%, the growth trend is very determined. 

The company is currently the biggest surprise is that the PV inverter business. PV inverter is mainly used for the construction of solar power plants, solar energy as one of the important direction of development of new energy, has been subject to the full attention of the country. Although this year facing the international PV industry polysilicon prices plummeted European countries to reduce the negative impact of development expected development of the industry is not satisfactory, but at the end of the year, China's emphasis on renewable energy development in the long-term objective of a substantial increase in solar power again to the implanted cardiac PV industry in the winter; Buffett investing heavily in solar power station to let the market the industry is expected to become clearer, the solar photovoltaic industry is expected to be re-entered the spring. 

In this context, the company is ahead of the layout of the PV inverter business is more strategic: Australia SAA earliest European CE, TUV and Italy certification, eight finalists "Golden Sun Project" solar grid tie inverter one device suppliers. The PV inverter coverage 1.5KW to 500KW full range, the efficiency of more than 97% the future efficiency there is room for improvement for the advanced level in the industry. 

The view from the company's recently released annual report, although the decline in earnings per share, operating income increased significantly, the production scale is gradually expanding. The most noteworthy is the inverter contribution to profit, has become one of the main contribution to the results. With the turn of the photovoltaic market in the future PV inverter business of the company is expected to scale new heights. 

This solar rooftop project will promote the development of the European large-scale photovoltaic solar rooftop facilities Hanwha Solar PV modules to 9 hectares of solar roofs in France Rion-des-Landes City project. This solar roof project will promote the development of the European large-scale photovoltaic solar rooftop facilities Hanwha Solar to provide photovoltaic products to the 9 hectares of solar roof project in France Rion-des-Landes City

Chinese PV products are used in the development of France's largest solar roof project. Chinese Han Chinese manufacturer of solar photovoltaic products has France's largest rooftop solar facilities delivered 7.7MW PV modules.

The French engineering underwriters SolvéoEnergie developed in the Rion-des-Landes a building facilities, to create the perfect growing conditions for ginseng cultivation. Solar modules installed on the roof of the building can also project funding sources. The plantation was officially opened on September 21, 2012.

Hanwha Solar president CharlesKim said, "Rion-des-Landes plantation project fully show that the introduction of solar panel energy technology and to achieve synergistic effects can promote the development of innovative projects. France is one of our major European markets, we will continue to expand its business in France scale and impact. "

The project is the 36,900 photovoltaic panels installed on the roof of 9 hectares, the installed capacity of 8.7MW, Hanwha Group has delivered 7.7MW. Annual power output of the solar roof project is expected to reach 10,000,000 kWh, will be able to meet the general demand for electricity for 4,000 households.

Taking into account the scale of the project, the construction can be completed in just six months is even more striking. Hanwha Group in providing PV modules, but also be able to open for the selection of project financing toolkit flexible financing facilities.

"Hanwha Solar cooperation to help us complete this huge project," Solvéo Energie company president, "Hanwha solar cell company in the process reflected the level of professionalism and service response capability for the project, said Jean-Marc Matéos the successful completion of made an important contribution. "

Hanwha said, the the ginseng production of France's agricultural sector is a promising new development direction: With the Rion-des-Landes plantations into production, the planting of the builders of the medicinal plant plantations French the GINSENG company in France Park has reached three. However, ginseng cultivation is very difficult, the roots need after four years in order to harvest, and ginseng are shade plants, is also more stringent environmental requirements.

Solvéo Energie built a solar roof, not only for ginseng cultivation provides optimal growing conditions, but also to ensure the project's funding sources. The massive roof of the building can be the crop from the sun, at the same time the PV modules can also produce valuable electrical energy.

"Solvéo Energie able to choose Hanwha as this challenging innovative project partners, we feel very honored," Laurent Bodin, a the Hanwha Solar French company sales director. Cooperation with Solvéo Energie has high professional standards, but also very exciting, this is a win-win situation for both parties and we look forward with Solvéo further cooperation.

Recently, this reporter saw a cloud community in dabanqiao street, tree-lined side of the road to put up a root white light poles, solar street lights lined up to the remote mountain village added to many urban atmosphere.

This implementation is Guandu District KEXIN Bureau and a tangible things, good things engineering, solar panel street lights installed in the the cloud community street dabanqiao village roads, completely solve the problem of the residents to travel at night, but also the end of The community does not have the history of the street lamps.

A cloud communities located in remote mountainous areas of the Guandu District, 1272 residents living in this land, but because of economic backwardness, the whole community has no street lights at night, the entire community into a dark, not only to bring residents travel inconvenience and potential safety hazard, residents behind closed doors, will not be able to carry out a lot of community activities.

Decided last month, Guandu District KEXIN Bureau thoroughly implement the implementation of the four groups, education requirements, in-depth rural mountainous area within, to carry out aid work, learned dabanqiao street a cloud of community residents at night dark way truth promote the "green light engineering, the implementation of the" Technology Helping. Actively coordinating relevant departments of the City Kexin Bureau and other multi-raising 50 million yuan of funds, after a Solar Energy Technology Co., Ltd. in Yunnan workers lasted nearly a month of intense construction, the successful completion of 50 solar cell street light base digging, installation and commissioning job.

Guandu District Branch letter by the Secretary Wang Yongquan introduced, this solar lights can make full use of solar energy, pressure effectively ease the power shortage, the night lighting with energy all depend on the absorption of solar energy during the day as the stored energy, the energy of the collection of the day, for eight nights use, the battery in just seven years to replace once will greatly save electricity for lighting, at the same time provide convenient conditions for the villagers to travel at night.

Wang Yongquan The District Branch letter will fully implement the green light engineering, for 3 years, solar street lights illuminate the life of mountain dwellers in the area, and make a positive contribution to speed up the development of urban and rural. As mentioned above, in 10 years, the production of photovoltaic industry in China has exceeded the world's installed capacity is nearly doubled, but the core technology is still stretched.

Polysilicon enterprises, for example, according to the research data, the cost per ton of large polysilicon enterprises up to 35-50 U.S. dollars, some small and medium enterprises and even the per ton cost of more than $ 60. In contrast, the United States, the cost of production of large enterprises in Germany almost are in the 15 to $ 20 per ton.

Costs are so high, profits how to? "Energy saving others, pollution own" this is not a criticism of Chinese PV companies out of nothing. Currently, the vast majority of Chinese photovoltaic enterprises manufacturing operations are concentrated in low technology content, the production process is simple, labor-intensive, serious pollution and power consumption, silicon production, solar charge controller production and module assembly and other low-value-added sectors.

Taken polysilicon purification aspects of Chinese enterprises is still "closed-loop non-modified Siemens process", while Germany, the United States, Japan and other companies have begun to use technology more, less polluting "closed loop modified Siemens process. However, the disadvantage of three (equipment, raw materials, markets) out ", many businesses prefer the funds be used to expand production capacity to get high profits in the short term, but do not want to be used to update the equipment or research and development of new production technologies, which Get the long-term interests of various stakeholders.

Chinese PV production of advanced technology and equipment, and its own state-of-the-art technology patents, what to be frightened in Europe and the United States "double reverse"? This is the lament of many PV experts. But in fact, in the "front money" and "money" game, in front of "money" at least "win" for 10 years.

The continued downturn in the photovoltaic segment usher in a wave rally since late December last year, in mid-January of this year, the plate rebounded by nearly 38%.However, since the mid-since, with the policy of gradually into the vacuum, and the fundamentals are not under the pressure of real improvement, early profit taking began to settle, the re-emergence of plate callback full month, up 4.77%, underperforming the Shanghai Composite Index 0.36 percentage points. 

However, Northeast Securities (000,686) believes that February is still a complex period of fermentation of multiple factors affecting the photovoltaic industry, but rebounded trend due to the price of silicon materials, solar cell, components related living conditions and performance conditions are ushered in likely inflection point, plus the two sessions after the relevant supporting policies might have been put forward, photovoltaic plates still have periodic opportunities. 

From a fundamental point of view, most of notice issued performance photovoltaic company's 2012 earnings have suffered a sharp decline. Hong Yuan Securities (000,562), the market has been more fully the expected decline in the level of corporate profits, Annual pre-reduction will not have much impact on the company's stock price. 

Domestic polysilicon dual anti-and part of the downstream enterprises due to the recent initiative to cut the whole industrial chain products to a shortage of supply, coupled with the recent Japanese and domestic demand strong, prices are still rising. 

The data PVinsights and Solarzoom photovoltaic industry chain prices continued to rise in January, which component prices in late January, the first time since last year rose Guoxin Securities believes that, after the Spring Festival, the domestic demand will continue to open, photovoltaic plates thematic investment opportunities in the product price increases. 

Shi Lishan, and implementing policies, the National Energy Board, Deputy Director of the Renewable Energy Division recently revealed 35GW installed capacity to adjust to China's photovoltaic "12th Five-Year Plan. According to the January 1, "the State Council on the issuance of the notice of the" 12th Five-Year Plan of the Energy Development "," Twelve Five "solar charge controller  photovoltaic power generation capacity target for 21GW, which means the" 12th Five-Year photovoltaic power installed capacity thanpreviously planned to increase 66.7%. 

The industry believes that, although slightly lower than the previous market forecasts 40GW 35GW target, but this has PV installed capacity in China within five years, the fourth expansion shows the determination of the government to support the development of the photovoltaic industry. According to Solarbuzz the data, in 2012, China's PV installed capacity of approximately 4.5GW, an increase of 55.7% compared to 2011 of 2.89GW, in accordance with previous official statement 2013-2015 annual increase the 10GW target calculation, this year the growth rate of the industry scale will be more than 200%. 

Insiders also expected future supporting industrial policy involves credit support, technical standards, and network standards, as well as approval process reform will accelerate the introduction of related policies put in place in the case, the final domestic installed capacity of more than 35GW is a high probability event. In addition, with the introduction of distributed generation subsidy rules, the buy solar panels photovoltaic industry access conditions "," renewable portfolio management approach "file, the PV market is expected to further optimization. 

Overall, under the background of a recovery in demand in the contraction capacity, the the 2013 photovoltaic industry situation is generally better than in 2012. But look at the valuation point of view, and ended before the Spring Festival, photovoltaic plates still more than 40 times earnings, far higher than the CSI 300 11 times, is still at a high level. And after two years of market downturn, the majority of PV companies facing high risk of receivables, high inventory, high debt ratio, the first quarter is the peak of bonds settled. Therefore, recommend investors to focus on the selection of investment targets, Takamoto shares (601,012) relatively good financial position of the company, as well as special TBEA (600089), a lower valuation of the company.