Satcon tops US solar inverter market in Q1

25 May 2011

Utility-scale renewable energy power conversion technology provider Satcon has captured the largest share of the US solar inverter market, according to data published in IMS Research’s quarterly inverter tracker report.

The latest IMS report for the first quarter of 2011 showed that Satcon shipped the largest capacity of solar inverters than any other US manufacturer during the quarter.

Satcon has been involved in the design and delivery of energy efficient systems for the photovoltaic, energy storage and fuel space for over 26 years.

The technology provider had punched slightly above its weight in the first quarter, however, falling of its revenue guidance.

Although it generated $62m in the first quarter of 2011, representing a 321 per cent increase compared to the equivalent period of 2010, the company did not tackle its deficit, making a loss of $1.5m during the quarter.

‘Satcon was one of the biggest market share gainers in the first quarter of 2011, gaining considerable share in the Americas in particular,’ said Ash Sharma, research director at IMS Research.

‘[It] continues to demonstrate impressive growth in the Americas and Asia and this will be extremely important for the future as these markets are predicted to drive global demand.’

Satcon sold over 500MW of its 500kW inverter solutions during fiscal 2010, shipping 200MW globally in the first quarter of the year.

‘Building on a strong 2010, we are pleased to continue to strengthen our position in the North American Market, as indicated by the results of IMS Research’s recent findings,’ said Satcon CEO Steve Rhoades.

Tags: Satcon, solar