Growatt: Inverters & Energy Storage Systems – Price Hike!

According to EnergyTrend, Growatt issued a product price adjustment notice to its dealer partners on September 21. The company plans to raise prices of inverters and energy storage systems by 510%, effective October 8.

In the notice, Growatt stated that rising upstream rawmaterial costs and tight supply of core components have lifted overall production costs. While the firm has absorbed cost pressures via supplychain optimization and internal costreduction measures, cost increases have exceeded its tolerance threshold, prompting price adjustments for selected products.

Per the document, two major product categories are subject to the price hike:

• String inverters, including gridtied inverters and storage inverters: 510% price increase;
• Energy storage systems, including commercial & industrial energystorage cabinets and residential energystorage systems: 510% price increase.

The notice specifies October 8 as the effective date. Orders with completed contracts and payments prior to the effective date will remain at the original prices.

Based on incomplete statistics from EnergyTrend, more than ten energystoragerelated enterprises including Sungrow, EVE Energy and East have released pricerevision notices since July this year. Adjusted products cover lithiumion batteries, power conversion systems (PCS), solarstoragecharging integrated equipment and residential energystorage products, with price hikes ranging from 2% to as high as 30%.

Source：EnergyTrend