Global PV inverter revenue increased to $7.1 billion last year

Abstract Driven by the increase in shipments in Asia, the global PV market in the world's solar PV industry was up against the trend in 2012, an increase of 5%, reaching $7 billion for the first time. Last year, global PV inverter revenue increased from 6.7 billion in 2011 to 7.1 billion...
Driven by the increase in Asian shipments, the global PV market in 2012 was up against the trend in the world's solar PV industry, with a 5% increase, reaching $7 billion for the first time. Last year, global PV inverter revenue increased from $6.7 billion in 2011 to $7.1 billion.

IHS PV Inverter Marketing Manager said: Although the growth rate of PV installed capacity has slowed down and prices have fallen, inverter sales have shown an increase. This is an achievement in the global solar market environment. Strong growth in Asia's fourth quarter contributed to the growth of the inverter business, which offset the 20% decline in Europe, Africa and the Middle East. This helped shipments in 2012 increase from 27GW in 2011 to 32GW in 2012.

Revenue growth has been hampered by fierce price competition and the shift to low-priced markets such as China, India, and Eastern Europe. These regions favor large inverters with lower prices, which led to a significant drop in the average selling price of the inverters. In addition, this led to a slowdown in sales growth in 2012.

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