PV inverter suppliers develop digital energy solutions
January 26, 2018
SMA announced last week that it would set up a digital energy solution subsidiary named Coneva, a move that is a natural stepping stone to diversifying its business and expanding its customer base. Along with its existing business units such as energy storage, off-grid/hybrid and now a digital solutions company, it has a clear roadmap for 2018 to transition its business to a digital world. This move is particularly pertinent when the PV inverter competitive landscape is still crowded and pure-play PV inverter suppliers such as SMA are trying to gain a competitive advantage over its larger industrial competitors such as ABB, GE, Siemens, Schneider Electric and Huawei.
In this insight, IHS Markit aims to explain the meaning behind this move to establish a subsidiary and why they are launching it in Q1 2018.