Jump to content

SolaX Power

Add links
From Wikipedia, the free encyclopedia

SolaX Power Network Technology (Zhejiang) Co., Ltd.
TypePublic
SSE: 688717
IndustryRenewable energy
Founded2012; 14 years ago (2012)
FounderLi Xinfu (chairman)[1]
HeadquartersHangzhou[2]
Area served
Worldwide
Websitewww.solaxpower.com

SolaX Power Network Technology (Zhejiang) Co., Ltd. (Chinese: 艾罗能源), commonly known as SolaX Power or SolaX, is a Chinese manufacturer of solar inverters and energy-storage products headquartered in Hangzhou, Zhejiang.[3] The company is listed on the Shanghai Stock Exchange STAR Market under stock code 688717.

SolaX develops and sells photovoltaic energy storage systems and related products, including energy storage inverters, storage batteries, grid-connected inverters, accessories and monitoring devices.[4] It has been described by media outlets as a solar inverter maker and residential battery manufacturer.[5][6]

Products and operations

[edit]

SolaX's product range includes photovoltaic energy-storage inverters, grid-connected inverters, batteries, all-in-one storage systems, EV chargers, microinverters and heat pumps.[7] The company also sells monitoring devices and operates the SolaX Cloud monitoring platform.[8] It supplies solar storage batteries to Project Solar.[9]

SolaX has used battery cells or battery products from external suppliers, including LG Chem and Rept Battero.[10][11] It also markets its own Triple Power battery range.[12]

The company's products are used in residential, commercial and industrial, and utility-scale photovoltaic and energy-storage applications.[13] At the time of its listing, SolaX reported overseas operations in markets including Australia and the United States.[14] Other reported overseas activity includes Australia,[15] Brazil,[16] and the United Kingdom.[17] SolaX was also named in a World Economic Forum report in connection with Australian virtual power plant development.[18]

History

[edit]

SolaX was established in 2012.[19][20] In 2013, the company introduced the SK series of energy storage inverters.[21]

In 2014, SolaX entered the UK market through a partnership with Navitron.[22] In 2015, it formed a partnership with LG Chem to offer a residential combined battery and inverter system using SolaX's Hybrid X grid-tied inverter and LG Chem's RESU6.4EX energy storage system.[23] In 2017, SolaX announced a dual-branded battery product manufactured in partnership with LG Chem and compatible with its X-Hybrid inverter range.[24]

In 2021, SolaX launched its first commercial string inverter series.[25] In 2023, the company introduced the X3-Ultra three-phase hybrid inverter range for commercial rooftop installations.[26]

On 3 January 2024, the company completed an initial public offering and began trading on the STAR Market.[27][28] The listing was also reported by International Financing Review, which said SolaX rose in its Shanghai debut.[29] KPMG listed SolaX among the ten largest A-share IPOs in the first half of 2024, with proceeds of about CNY 2.2 billion.[30] International Financing Review separately reported that the IPO raised more than CNY 2.2 billion.[31]

In January 2024, SolaX released the X1-IES and X3-IES integrated energy storage systems.[32]

Financials

[edit]

According to Forbes China, SolaX's revenue in Europe was more than CNY 4.3 billion in 2022.[33] For the year ended 31 December 2025, SolaX reported revenue of CNY 4.08 billion, up 32.84 percent from 2024, and net income of CNY 120.9 million, down 40.61 percent from 2024.[34] In the quarter ended 31 March 2026, the company reported operating revenue of CNY 1.45 billion.[35]

Product recalls

[edit]

In March 2022, the Australian Competition and Consumer Commission published a recall notice for LG S/A Gen2 home energy storage system batteries supplied by SolaX Power Aus Pty Ltd. The notice was later updated with additional instructions and remedies, and in 2024 the ACCC advised affected consumers to shut down the recalled LG batteries until remedied.[36] The recall was also covered in Australian technology and business media.[37][38]

References

[edit]
  1. ↑ Eckhart Gouras (9 March 2019). "The weekend read: A battery and inverter powerhouse". PV Magazine. ISSN 1865-3138.
  2. ↑ "Chinese inverter maker Solax to expand into Brazil". BNamericas.com. 12 March 2024. Archived from the original on 16 March 2024.
  3. ↑ "SolaX Power Network Technology Zhejiang Co Ltd". Financial Times. Retrieved 16 June 2026.
  4. ↑ "SolaX Power Network Technology Zhejiang Co Ltd". Financial Times. Retrieved 16 June 2026.
  5. ↑ David Pratt (4 December 2015). "LG Chem follows up 90MW grid project with SolaX inverter partnership". Energy Storage News. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  6. ↑ Eckhart Gouras (9 March 2019). "The weekend read: A battery and inverter powerhouse". PV Magazine. ISSN 1865-3138.
  7. ↑ "Our Products". SolaX Power. Retrieved 16 June 2026.
  8. ↑ "SolaX Power Network Technology Zhejiang Co Ltd". Financial Times. Retrieved 16 June 2026.
  9. ↑ Katharine Allison (19 January 2024). "Solar battery storage guide". The Independent. Archived from the original on 12 March 2024.
  10. ↑ Simone Grogan (20 November 2023). "Chinese energy storage companies push into Australia". The West Australian. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  11. ↑ "Global Offering Report of Rept Battero" (PDF). Hong Kong Economic Journal. 8 December 2023. Archived (PDF) from the original on 12 March 2024.
  12. ↑ "Triple Power Battery for Solar System | SolaX Power". www.solaxpower.com. Retrieved 19 August 2025.
  13. ↑ "Our Products". SolaX Power. Retrieved 16 June 2026.
  14. ↑ "Chinese PV product maker SolaX Power lists on STAR Market". Renewablesnow.com. 8 March 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  15. ↑ "SolaX strengthens its presence in Australia". The Sydney Morning Herald. 28 May 2024. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  16. ↑ "Chinese inverter maker Solax to expand into Brazil". BNamericas.com. 12 March 2024. Archived from the original on 16 March 2024.
  17. ↑ Peter Bennett (9 September 2014). "Solax announces UK partnership with Navitron". Solar Power Portal. Archived from the original on 17 March 2024.
  18. ↑ "WEF APAC System Value Analysis Australia 2022" (PDF). World Economic Forum. 1 October 2022. Archived (PDF) from the original on 2 August 2023.
  19. ↑ "SolaX Power listed on Shanghai Stock Exchange". The Free Library. Energy Update. 26 February 2024. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  20. ↑ "SolaX Inverter & Energy Storage System Manufacturer". SolaX Power. Retrieved 16 June 2026.
  21. ↑ Fan Jialai (22 December 2023). "Chinese National Housing and Urban-Rural Construction Work Conference Held in Beijing". The Paper. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  22. ↑ Peter Bennett (9 September 2014). "Solax announces UK partnership with Navitron". Solar Power Portal. Archived from the original on 17 March 2024.
  23. ↑ Maloney, Peter (4 December 2015). "LG Chem teams up with SolaX Power to offer battery-inverter system". Utility Dive. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  24. ↑ McCusker, James (17 July 2017). "SolaX Power to offer new dual-branded, high-performance battery solution". Solar Power Portal. Retrieved 16 June 2026.
  25. ↑ Emiliano Bellini (7 December 2021). "Solax Power launches new inverter series for commercial PV projects". PV Magazine. ISSN 1865-3138. Archived from the original on 16 March 2024.
  26. ↑ Bellini, Emiliano (19 October 2023). "Solax introduces hybrid inverter for 200% PV system oversizing". pv magazine Australia. Retrieved 16 June 2026.
  27. ↑ "Chinese PV product maker SolaX Power lists on STAR Market". Renewablesnow.com. 8 March 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  28. ↑ Beth Anton (3 January 2024). "SolaX Executes its Initial Public Offering". Renewable Energy Magazine.
  29. ↑ "SolaX Power Network Technology Jumps 58% in Shanghai Debut". International Financing Review. 3 January 2024. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  30. ↑ "Interim Report on the Chinese Mainland and Hong Kong IPO Markets" (PDF). KPMG. 18 June 2024. Archived (PDF) from the original on 3 July 2024.
  31. ↑ "SolaX Power raises 2.22 billion yuan from STAR Market IPO". International Financing Review. 28 December 2023. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  32. ↑ BNN Correspondents. "SolaX Power Unveils New Integrated Energy Storage Systems with Enhanced Features". BNN. 31 January 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  33. ↑ Forbes China (3 January 2024). "SolaX Power Goes Public on the Shanghai Stock Exchange". Forbes. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
  34. ↑ "SolaX Power Network Technology (Zhejiang) Stock Price & Overview". StockAnalysis. Retrieved 16 June 2026.
  35. ↑ "SolaX Power Network Technology (Zhejiang) Financials & Income Statement". StockAnalysis. Retrieved 16 June 2026.
  36. ↑ Safety, ACCC Product (30 March 2022). "SolaX Power Aus Pty Ltd - LG S/A Gen2 Home Energy Storage System (ESS) Batteries". www.productsafety.gov.au. Retrieved 19 August 2025.
  37. ↑ Zachariah Kelly (11 October 2023). "Energy Storage Market Booming in Australia". Gizmodo.
  38. ↑ Simone Grogan (20 November 2023). "Chinese energy storage companies push into Australia". The West Australian. Retrieved 29 August 2024.{{cite web}}: CS1 maint: deprecated archival service (link)
Retrieved from "https://en.wikipedia.org/w/index.php?title=SolaX_Power&oldid=1371925046"