For more information, contact:
|Richard Roth, Vice President, Marketing
Advanced Energy Industries, Inc.
ADVANCED ENERGY ACHIEVES #1 MARKET POSITION IN NORTH AMERICA
FOR SOLAR PV INVERTERS
Company Commands 24% Share in Recent IMS Research Industry Report
FORT COLLINS, Colo., September 7, 2010—Advanced Energy Industries, Inc. (NasdaqGM: AEIS) today announced that it has achieved the highest overall market share in North America at the end of the first half of 2010 for its solar PV inverter products. The data was made available by IMS Research, a leading supplier of market intelligence, and shows a dramatic increase in the Company’s inverter shipments. The Company, including its Solaron and PV Powered inverter product lines, now holds 24% share, which marks a two-fold increase over the past two years.
Dr. Hans Betz, chief executive officer of Advanced Energy, commented, “Our number one market share position represents a critical milestone for our inverter business. Our performance over the past year has been bolstered by both the introduction of innovative new products, as well as an acquisition strategy. Advanced Energy now offers customers a complete portfolio of inverter solutions to address the entire power range needs of the market. We are committed to continuous innovation in this space, as we continue to expand our product portfolio and capabilities for our customers.”
Ash Sharma, PV Research Director for IMS Research, noted, “The second quarter for 2010 was a record quarter for the PV inverter market with an estimated 4.9 GW shipped worldwide. This was almost four times the amount shipped in the second quarter of 2009, and 53% higher than the previous quarter. We saw strong demand across all regions, and shipments to the Americas doubled on a year-over-year basis. Advanced Energy now ranks number one in our Americas market rankings report for the first and second quarters of 2010.”
Advanced Energy offers a wide range of grid-tied solar PV inverters, from residential systems to multi megawatt, utility-scale inverters. The Company’s product line includes the record-setting Solaron and PV Powered inverter portfolio with industry-leading efficiency and reliability designed for a twenty-plus year operating life. In addition, the Company provides PV solar array owners with an innovative service program designed specifically to address the challenges of whole-site operations and maintenance (O&M). The SiteGuard whole-site O&M service program leverages the Company’s unmatched inverter knowledge and field service expertise to boost uptime (industry benchmark 99% inverter uptime guarantee) and reduce levelized cost of energy (LCOE) for entire PV solar sites.
About Advanced Energy
Advanced Energy (Nasdaq: AEIS) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation. Advanced Energy is headquartered in Fort Collins, Colorado, with dedicated support and service locations around the world. For more information, go to www.advanced-energy.com.