Global PV inverter shipments fall to 8.3 GW in Q2 2013 - IHS

Sep 5, 2013 - Shipments of photovoltaic (PV) inverters in the second quarter of 2012 have dropped by 5% year-on-year to 8.3 GW, marking the first decline in seven quarters, a report of market analytics provider IHS (NYSE:IHS) shows.

According to The World Market for PV Inverters - 2013 Edition, released on Wednesday, the decrease reflects falling demand in key European countries. IHS senior PV market analyst Cormac Gilligan explained that shipments in major markets like Germany and Italy have contracted faster than expected, with demand in some European countries shrinking by more than 70% in 2013. As a result, inverter suppliers have turned their attention to the US, China, Japan and India, he added. Shipments of solar inverters to the Europe, Middle East and Africa (EMEA) region in the first six months of the year slumped by over 40% on the year to 6 GW.

PV inverter shipments were up 24% on a quarterly basis, after shipments to China surged by 174% to 2 GW.

Quarter-on-quarter, prices were down 10% as shipments were relocated to lower-cost markets in Asia and also due to continued price erosion in mature solar markets. Second-quarter revenue stood at USD 1.6 billion, 18% less than a year ago.

IHS forecasts that solar inverter shipments for the second half will rise and exceed 34.5 GW for the full year. Most of demand is projected to come from North and South America and Asia.

(USD 1.0 = EUR 0.757)

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