PV inverter manufacturer Solectria Renewables announces record results for 2013. The company reports seven years of consecutive profitability, a 43% year-over-year growth in megawatts shipped, and 40% year-over-year growth in revenues. Among five major inverter manufacturers, Solectria Renewables ranks at the top for bankability, both for current figures and for year over year trends.
U.S.-based PV inverter manufacturer Solectria Renewables has announced record results for 2013. The company reported seven years of consecutive profitability, a 43% year-over-year growth in megawatts shipped, and 40% year-over-year growth in revenues.
“Solectria Renewables is one of the most consistently profitable and financially healthy PV inverter manufacturers operating today,” says Phil Vyhanek, President of Solectria Renewables. “In 2013, we expanded our team and manufacturing operations, launched new products, and contributed to many project successes, all while maintaining the financial health required for true bankability.”
The company’s record results for 2013 include:
- Financial health: The inverter manufacturer achieved a 40% increase in revenues year-over-year, and achieved its seventh year of consecutive profitability.
- Company growth: Solectria has increased U.S. staffing by 11% in 2013 and increased its U.S. manufacturing space by 30%.
- Project success: Solectria achieved a 43% growth in megawatts shipped in 2013. Numerous multi-MW projects and portfolios were completed across the U.S., including a 10MW solar farm at the Indianapolis airport, the largest airport installation in the world.
- Product launches: Solectria launched the SGI 500XT, a 500kW central inverter with 98% CEC efficiency; introduced a new line of 14kW to 23kW transformerless three-phase string inverters; and completely redesigned its 50kW to 100kW power level inverter line, which offers more than 500 unique configuration options.
Using the company’s financial data along with publicly available financial data from other inverter manufacturers, Solectria has developed a Bankability Snapshot measuring profitability, debt/equity, and current ratio.
Bankability is a common term for describing solar companies according to financial and other attributes required for project success. Solectria measures bankability by objective facts, including profitability, debt-to-equity position, and current ratio. Among five major inverter manufacturers, Solectria Renewables ranks at the top for bankability, both for current figures and for year-over-year trends.