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TMEIC Achieves Cumulative PV Inverter Shipment of 20GW

2019/09/06 21:07
Kenji Kaneko, Nikkei BP Intelligence Group, CleanTech Labo
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Toshiba Mitsubishi-Electric Industrial Systems Corp (TMEIC) announced Sept 5, 2019, that the total capacity of large-capacity PV inverters shipped by the company in the world has reached 20GW (20,000,000kW) as of July 2019.

In consideration of the medium-term growth of the renewable energy market including solar power, TMEIC started to establish a production system for PV inverters and began sales activities in fiscal 2009, when the feed-in tariff (FIT) policy had not been started yet.

In and after 2012, the company's PV inverter business was fueled by the rapid growth of the FIT-based solar power generation (PV) market in Japan, and it achieved a total shipment of 2GW, which was accounted for mainly by the Japanese market, in fiscal 2014.

In fiscal 2015, for strengthening its business in overseas markets, TMEIC built production bases in the US, China and India and established a global supply system including Japan.

TMEIC not only established the largest share of the large-capacity PV inverter market in Japan but has been growing its shares of overseas markets. The company also has one of the largest shares of the global market. For example, according to the "PV Inverter Market Tracker," which IHS Technology announced in April 2015, TMEIC was ranked first in the world in the category of higher-than-99kW PV inverters (in terms of sales in 2014).

Because such steady sales strategies in and outside Japan were successful, the company achieved the total (cumulative) shipment of 20GW in about 10 years after the release of its PV inverters.

The cumulative shipment of TMEIC's PV inverters (unit: megawatt) (source: TMEIC)