With a new Wood Mackenzie report predicting a decline in solar power inverter market value through 2024, some solar energy manufacturers are expanding their smart home platform offerings as a way to remain profitable amid price pressure and fierce competition.
Solaredge, which recently posted record revenues of $325 million in Q2 2019, made acquisitions in 2018 with the goal of becoming a smart energy company.
Competitor Enphase is also expanding, hoping to transform from a microinverter solar company to a home solar energy management solar-powered systems company with the release of its new Ensemble platform in q4 of this year. The solar company recently posted its third straight profitable quarter in Q2 with revenue of $134.1 million.
Meanwhile, other vendors are either leaving the solar power inverter space altogether or doubling down to ride it out.
ABB announced last month it was selling its solar power inverter business, and SMA, in spite of a 15.9 million dollar loss in its year to date earnings report, predicts an increase in sales, recently updating its Sunny boy Solar power inverter.
Do you think smart home systems are the future of solar power inverters? Let us know in the comments!
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