Advanced Energy Retreats from Solar Inverter Market

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US inverter supplier Advanced Energy yesterday announced it would wind down its solar inverter business having failed to attract a buyer for this part of its business. This follows intense competition and price pressure due to a surge in new entrants in its domestic market, the United States, the world’s third largest solar market in 2015.

Six months ago, Advanced Energy (AE) announced that it was attempting to sell its solar inverter business or look at other alternatives including joint venture, partnership, spin-off, licensing and other options. Following this it would focus on its power precision business.