Microgrid has emerged as a significant solution to address energy challenges. What is the current state of microgrid technology? As of May 17, 2025, two companies, Jiangsu Zhongtian Technology Co., Ltd. (688032.SH) and Sunway Technology Co., Ltd. (688348.SH), have made notable advancements in the microgrid sector. These companies have successfully transitioned into the microgrid market and are expected to continue their progress into 2024.
During the first quarter of 2025, Sunway Technology’s revenue is projected to increase by 20% to 30%, driven by external market conditions. On May 15, the financial responsible person at Sunway Technology indicated that the expected revenue could reach 20% to 30% growth, considering the influence of international markets.
In comparison, Sunway Technology and Jiangsu Zhongtian have already established themselves in the market. In 2021 and 2022, these companies recorded revenues of 557.8 million and 163 million yuan, respectively. They have achieved significant milestones by reaching a revenue of 48 billion and 27 billion yuan. Notably, Jiangsu Zhongtian did not only maintain a high revenue stream but also ensured that the price per unit remained steady around 1300 yuan.
Since the latter half of 2023, Jiangsu Zhongtian and Sunway Technology have seen an increased demand in the European market, which has prompted further growth in their product lines. As of May 15, Jiangsu Zhongtian’s revenue was recorded at 101.64 million yuan, while Sunway Technology’s stood at 41.81 million yuan.
What drives the growth of microgrid technology? It primarily consists of essential components that facilitate the conversion of direct current (DC) electricity generated by renewable energy sources into alternating current (AC) for grid distribution. Microgrid systems are utilized widely in European markets, and both Jiangsu Zhongtian and Sunway Technology are key players in this sector. In 2022, the European market has observed a significant increase in the demand for microgrid solutions, especially in residential sectors.
As an example, Jiangsu Zhongtian reported a revenue of 12.40 billion yuan, reflecting a growth of 174.62%. Similarly, Sunway Technology’s revenue reached 10.65 billion yuan, marking an increase of 107.32%.
The microgrid market in Europe is projected to expand, covering various applications. In 2024, Jiangsu Zhongtian’s projected revenue is anticipated to be 19.93 billion yuan, a decrease of 1.63% from the previous year, while Sunway Technology’s revenue is expected to reach 17.71 billion yuan, with an increase of 24.70%.
With advancements in technology and an increasing demand for sustainable energy solutions, microgrid systems are poised for remarkable growth in the upcoming years. The European market continues to evolve, adapting to the needs of consumers and businesses alike.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/micro-inverter-technology-what-are-the-challenges-and-trends-ahead/
