Sungrow had over 35 GW of PV inverters shipped in 2020, accelerating its global market share to 27%. Apart from the performance in utility-scale projects in global solar hubs, the development of distribution segments also contributes to this increase. For instance, its market share in Australia for the residential segment has increased to 24%, it has been leading the local market share in Brazil since 2019 and it predicts an even more prosperous future in Europe as it's establishing local channels.
In addition, over 800 MWh of Sungrow energy storage systems were shipped worldwide in 2020, and the deployment is expected to show a high growth trend. Sungrow, as one of a few companies that can supply both PV and energy storage product portfolios, keeps making innovations in solar-plus-storage applications as the combination becomes the next thriving sector to unlock the potential of clean energy and facilitate the energy transition.
See also: Sungrow provides inverters to the largest subsidy-free solar park
Notably, Sungrow has expanded its annual production capacity to 90 GW, including 10 GW of India manufacturing based on a global growing demand basis. Also, the Company is on the path to establish another factory outside China in the near future.
Social Responsibility Milestones
Sungrow also continues to contribute to global carbon neutrality. The Company's accumulative shipments exceeded 154 GW as of December 2020, which is equivalent to eliminating 174.5 million tons of carbon dioxide.
Another breakthrough is that Sungrow joined RE100 and has pledged to switch to 100% renewable energy for its electricity requirements by 2028.
The Company is dedicated to supporting communities in the global landscape, donating to public welfare and charity undertakings based on the framework of eradicating poverty and contributing to education, as well as fighting against pandemics and natural disasters.
Securing the MSCI ESG Rating of AA, Sungrow also shows the robust resilience to long-term, industry material environmental, social and governance (ESG) risks. (mfo)
