Global PV inverter revenue increased to $7.1 billion last year
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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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