There are clear signs of acceleration in overseas demand, and the export data of module inverters are all showing high growth. In March 2023, the export of component inverters reached the highest level in history. The export of components was about 20.26GW, +40.11% year-on-year and +51.83% month-on-month; the export of inverters was US$1.168 billion, +148.58% year-on-year and +34.3% month-on-month.
In terms of countries, European exports are at the highest level in history, while other markets generally maintain good performance. Driven by high economic efficiency, European demand continued to be good. In March 2023, the export of components from eleven European countries reached 10.05GW, +49.48% year-on-year and +51.06% month-on-month, and the export volume reached the highest level in history. The export of inverters in the port country Netherlands in March was US$412 million, +291.16% year-on-year and +4.84% month-on-month, reflecting the overall strong demand in Europe. The export of inverters in Germany, a typical country, was US$127 million, +333.11% year-on-year and +119.26% month-on-month, as evidenced by the continued high level of installed capacity. Brazil's electricity distribution fee subsidy has been gradually reduced, resulting in rush installation effect, superimposed high economic efficiency, and also performed well. The monthly module export is nearly 2GW. The ambition of green energy transformation in the Middle East has been realized, and the price reduction of modules has stimulated the explosion of ground market demand. UAE + Oman + Saudi Arabia module exports 925MW, +101.52% year-on-year, +68.90% month-on-month.
Australia is rich in light resources, and the demand is increasing steadily. U.S. module customs clearance is accelerating. In February, the import of battery modules was 3.9GW, +94.45% year-on-year. Considering that the anti-circumvention investigation results in May may exceed expectations, the annual installed capacity is worth looking forward to.
In addition, the export data by province also has certain guiding significance for the shipment changes of component companies. For example, Guangdong reflects the situation of enterprises such as Huawei, Growatt, and Shouhang; Zhejiang reflects the situation of Jinlang, Deye, Hemai, and Yuneng; Anhui’s main enterprise is Sunshine; Jiangsu reflects Goodway, Shangneng, etc. In Shaanxi, Sungrow mainly exports to Europe through China Railway Express. In March, the export of inverters in Shaanxi was US$65 million, +2855.48% year-on-year and +702.71% month-on-month. The export of inverters in Anhui was US$162 million, +224.47% year-on-year and +49.56% month-on-month. In addition, the export of inverters in Guangdong and Jiangsu provinces also maintained good growth.