Solar inverter shipments grew by 50 per cent in the third quarter of 2010 to reach 7.3GW, a new record for the industry, according to latest figures.
But the analysis by IMS Research struck a warning note, judging the market already fully supplied.
‘Again we are referring to a record quarter for inverter suppliers with the previous record of 5GW of shipments in the second quarter of 2010 being beaten by almost 50 per cent in the third quarter,’ said Tom Haddon, solar analyst at IMS.
‘The last quarter, however, is likely to be much weaker, as Germany, the largest market, continues to slow. Additionally, significant inventory now exists in the supply chain and a sharp correction seems inevitable.’
While the majority of shipments were for installations in Germany, growth slowed substantially in that region and the biggest contributors to the market’s huge increase were Italy and Asia. Other European markets also fared well and have grown by more than 300 per cent year-on-year.
Europe, the Middle East and Africa accounted for around 80 per cent of inverter shipments in the third quarter of 2010, down from 90 per cent the previous quarter, partly driven by high growth of the Americas market which is estimated to have doubled in size from the same period last year. All regions recorded growth, generating more than $2bn in revenues for suppliers during the quarter.
For the second consecutive quarter, factory-gate inverter prices fell due to the continuing shift towards larger inverters, which have an inherently lower price per watt.
With such a strong quarter for the whole industry many firms have increased shipments but lost overall market share. SMA, which dominates the market, continued to lose further share in the third quarter, despite a record quarter and a big improvement in its supply problems.
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