Sofar Solar has recently completed supplying India’s 1MW industrial and commercial power station with their power grid inverters. Sofar Solar, which is a subsidiary of the SOFAR Group in China, has made a name for itself in recent years as it’s now become known as one of the biggest producers and suppliers of grid inverters.
The project of providing the power station with inverters highlights the introduction of the first industrial and commercial power station in that certain region of India. Due to the importance of the power station and the new ground that it’s creating for the future of the market, investors and installers haven’t overlooked the vitality of the project. Citizens and companies alike have expressed hopes that the integration and maintained operation of this power station will create a local benchmark power station in India.
Sofar Solar was the company chosen for the project after careful consideration and comparison between brands. The reasoning for this has been revealed to be linked to the fact that the Sofar Solar brand was actually the first inverter enterprise to enter the Indian market, and so it makes sense to expand it with the same brand identity.
Sofar Solar has been able to build quite a strong foundation for itself throughout the Indian market as a result of years of market accumulation and channel layout. It now occupies an important market share in more than 20 states of India and is highly sought after, which further indicates the influence of the brand on the local market. With the completion of this latest project, the SOFAR Group Subsidiary has once again established a core position in the market.
India has a good foothold throughout the market as one of the most popular projects for PV investment. This is due to the fact that the country is located in both tropical and subtropical regions which offer plenty of sunshine and it’s close to the equator. The average amount of sunshine that the country receives means that it ranks amongst the top 20 economies in the world, receiving approximately 3,000 hours of solar radiation per calendar year.
As early as 2016, 8 of India’s top 10 component suppliers came from China, with Canadian Solar, Trina Solar, JA Solar, GCL, and Talesum being the biggest names. When it comes to component suppliers, inverter suppliers mainly focus on large-name companies such as Sofar Solar. This is due to the ground that the company has already established within the market and the quality of the products that they offer. As Sofar Solar’s inverters have been installed in over 40 countries worldwide, it has been able to build up and maintain quite the professional reputation.
With the continuous growth of the power demand and cost throughout India, the country has been focusing on accelerating their transition to renewable energy sources. Therefore, for the past two years, India has been trying to move forward with the plans to focus on photovoltaic grid inverters and wind power as opposed to non-renewable energy sources.
Since the launch of the Indian solar program, the first quarter of 2018 has proven to be the strongest quarter for the Indian PV industry. This is due to the decline in component prices making the use of PV inverters much more achievable and sustainable. Along with this, rooftop power plants and centralized ground power plants have showcased strong growth, which further provides a good market for Chinese PV companies such as Sofar Solar.
The Vice President of Sofar Solar, David Zhong, has released past statements explaining that the company has been insisting on the expansion of the Indian market for more than four years now. He also confirmed that consumers and users have now been able to experience the quality of the inverters for themselves, and have proven to be overly satisfied with the operation of the machinery. In turn, this has further helped Sofar Solar become known throughout the Indian market and has strengthened its own brand name.
David Zhong also explained that the subsidiary of SOFAR doesn’t take the honor lightly and the increase in projects using Sofar Solar inverters has further worked to increase their determination.
David Zhong has gone onto note that the future for Sofar Solar is looking positive as it will work closely with Indian companies to establish the market on better foundations. Despite being up against a very competitive market, Sofar Solar will focus on providing stable inverter products and core technology to boost India’s photovoltaic market.
At the moment, they’re planning to continue working closely with Indian companies to further ensure the sustainable growth of India’s renewable energy industry.