German inverter manufacturer SMA has managed to shake off the impact of the pandemic by posting strong revenue and profits for 2020.
SunPower’s distributed-generation services platform, as well as storage and digital solutions, will be key to its long-term growth, CEO Tom Werner said in an earnings call this week.
Despite the Corona pandemic, SMA Solar was able to significantly improve its financial results over the past year and has met its 2020 forecasts. Overall, the German PV company has installed more than 100 GW of solar inverter power globally.
Despite the coronavirus pandemic, the photovoltaic inverter maker was able to significantly increase its turnover and sales compared to the previous year.
Despite a significant drop in turnover, the Israeli inverter maker was able to increase its net result in the third quarter of this year, in which it shipped around 1,415 MW of its products. In the first nine months of the year, the company’s revenue increased year-on-year from $1 billion to $1.1 billion.
Strong net sales, 1.6 GW of bookings, plans for a 445 W panel, and environmental recognition for the Series 6 line point to another successful quarter.
German inverter manufacturer SMA Solar Technology reported solid financial results for the first half of 2020 despite the Covid-19 crisis. Meyer Burger, however, saw sales and profits decline.
Tesla finished the first quarter of 2020 with a positive GAAP net income, driven by the profitability of the Model Y. However, the story was not so bright for solar, storage or corporate governance.
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