According to a report by ET Net News Agency on the 25th, citing sources from Sina Finance today, leading photovoltaic storage enterprise Sungrow (Shen: 300274) has established a separate home energy storage (residential energy storage) division, with Wu Jiamao, Senior Vice President of Sungrow and President of Global Marketing of the PV-Storage Group, serving as head of this business. At the same time, to avoid competition among business segments, the overseas home energy storage station business of its subsidiary, Sungrow New Energy, has currently been suspended.
Industry insiders indicated that previously Sungrow's home energy storage products were considered less competitive, and this move aims to integrate internal resources and strengthen its home energy storage business. However, home energy storage business demands higher channel requirements. Direct competitors such as Magna, Solax, and Deye have already occupied the first tier of global home energy storage shipments, locking in numerous top distributors, and channel penetration will require time.
*Sungrow's global home energy storage shipment ranking declines*
The authoritative market research firm InfoLink Consulting's global home energy storage shipment ranking shows that the Top 5 home energy storage system manufacturers for 2025 include: Tesla, Huawei, BYD Energy Storage, Sungrow, and Solax New Energy, with Sungrow ranking fourth. For the first half of 2026, the Top 5 home energy storage manufacturers by shipment volume were Magna Energy, Solax New Energy, Deye Co., Huawei Digital Energy, and GoodWe. Sungrow did not rank within the top five.
Since the beginning of this year, Sungrow has been actively making moves in the home energy storage sector. During the Intersolar Europe 2026 exhibition in Munich, Germany, in June 2026, Sungrow launched the PowerHarbor residential integrated energy storage system, its first residential "All in One" integrated energy storage system.
The semiannual report shows that in the first half of this year, Sungrow achieved revenue of 30.912 billion yuan (RMB, same below), a year-on-year decline of 28.99%; net profit attributable to shareholders was 5.259 billion yuan, down 32.01% year-on-year. Among these, energy storage shipments reached 25 GWh, a 28% year-on-year increase; revenue was 15.4 billion yuan, down compared to the same period last year. (jq)
Industry insiders indicated that previously Sungrow's home energy storage products were considered less competitive, and this move aims to integrate internal resources and strengthen its home energy storage business. However, home energy storage business demands higher channel requirements. Direct competitors such as Magna, Solax, and Deye have already occupied the first tier of global home energy storage shipments, locking in numerous top distributors, and channel penetration will require time.
*Sungrow's global home energy storage shipment ranking declines*
The authoritative market research firm InfoLink Consulting's global home energy storage shipment ranking shows that the Top 5 home energy storage system manufacturers for 2025 include: Tesla, Huawei, BYD Energy Storage, Sungrow, and Solax New Energy, with Sungrow ranking fourth. For the first half of 2026, the Top 5 home energy storage manufacturers by shipment volume were Magna Energy, Solax New Energy, Deye Co., Huawei Digital Energy, and GoodWe. Sungrow did not rank within the top five.
Since the beginning of this year, Sungrow has been actively making moves in the home energy storage sector. During the Intersolar Europe 2026 exhibition in Munich, Germany, in June 2026, Sungrow launched the PowerHarbor residential integrated energy storage system, its first residential "All in One" integrated energy storage system.
The semiannual report shows that in the first half of this year, Sungrow achieved revenue of 30.912 billion yuan (RMB, same below), a year-on-year decline of 28.99%; net profit attributable to shareholders was 5.259 billion yuan, down 32.01% year-on-year. Among these, energy storage shipments reached 25 GWh, a 28% year-on-year increase; revenue was 15.4 billion yuan, down compared to the same period last year. (jq)
