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Nov 09, 2023
Energy storage inverter (PCS) shipments to reach almost 900GW between 2023 and 2030
PCS shipments to front-of-the-meter (FTM) energy storage siting accounted for over 50% of total global shipments over the forecast period (2023-30), with the United States and China mainland accounting for the majority of these shipments. While some PCS suppliers are globally focused, many suppliers focus on a few key markets in FTM. This is due to the requirement to be able to provide timely support via local teams to large energy storage projects as well as ability to meet certification requirements in different markets.
One of the significant trends over the last few years has been the rapid growth in sales of hybrid inverters which are targeted at roof-top solar installations and in particular at residential installations. The increased popularity of hybrid inverters is due to many homeowners opting for flexibility; with many initially installing a hybrid inverter without a battery energy storage system and having the option to add a battery later when battery prices are lower or the need for a battery arises. Also, the growing expansion of Chinese suppliers has increased supply of hybrid inverters and increased competition has rapidly lowered their prices.
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This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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