Major PV inverter manufacturer, SMA Solar Technology surprised with better than guided 2019 financial results as a surge in shipments and sales tool place in the second half of the year.
Having previously guided only modest growth from a loss making 2018, SMA Solar reported record PV inverter product sales of 11.4GW, up from several years of flatlining at the 8.5GW level.
PV inverter shipments were driven by strong market growth in the US and Europe, notably Germany, which installed over 2GW in 2019, and historically, SMA Solar’s main residential market.
