In 2024, India achieved a remarkable milestone by adding over 25 GW of solar capacity, marking a 204% increase from the previous year . This unprecedented growth underscores the critical role of solar inverters, which convert direct current (DC) from solar panels into usable alternating current (AC) for homes and businesses. As the backbone of solar energy systems, inverters are essential for efficient energy conversion and grid compatibility.
Leading Solar Inverter Suppliers in India – 2024
1. Sungrow Power Supply Co., Ltd.
Sungrow maintained its position as the top solar inverter supplier in India during the first half of 2024, excelling in both central and string inverter segments. With a manufacturing facility in Bangalore, Sungrow has solidified its presence in the Indian market, offering reliable and efficient inverter solutions.
2. Sineng Electric
Sineng Electric emerged as a leading central inverter supplier in H1 2024, contributing significantly to India’s utility-scale solar projects. The company’s focus on innovation and quality has made it a preferred choice for large-scale installations.
3. FIMER India
Formerly ABB’s solar inverter division, FIMER India continued to be a key player in the central inverter market in 2024. The company’s robust product portfolio caters to various project requirements, ensuring optimal performance and reliability.
4. TBEA Energy India
TBEA Energy India led the string inverter segment in H1 2024, reflecting the growing demand for decentralized solar solutions. Their inverters are known for high efficiency and adaptability to diverse climatic conditions.
5. Ginlong (Solis) Technologies
Ginlong, under the brand Solis, secured a significant share in the string inverter market, offering products that combine advanced technology with user-friendly features. Their inverters are widely used in residential and commercial solar installations.
Market Dynamics and Trends
Surge in Rooftop Solar Installations
The government’s rooftop solar scheme has led to a 300% increase in demand for string inverters, highlighting the shift towards decentralized energy generation . This trend emphasizes the need for efficient and compact inverter solutions suitable for residential and small commercial setups.
Technological Advancements
The Indian inverter market is witnessing a transition towards hybrid and smart inverters equipped with IoT and AI capabilities. These innovations enable better energy management, predictive maintenance, and integration with energy storage systems, aligning with the evolving needs of consumers and the grid.
India’s ambitious renewable energy targets and supportive policies have catalyzed significant growth in the solar sector. As the demand for efficient and reliable inverters escalates, leading manufacturers like Sungrow, Sineng Electric, FIMER India, TBEA Energy India, and Ginlong are at the forefront, driving innovation and ensuring the seamless integration of solar power into the national grid. Their contributions are pivotal in powering India’s transition to a sustainable energy future.
