October 30 (Solar) – German inverter maker SMA Solar Technology (ETR:S92) and Chinese battery maker BYD Co Ltd have expanded their partnership to additional markets with a focus on the US, which they say offers great potential with its growing installed solar capacity.
The expanded collaboration will also target the African markets.
SMA and BYD have partnered in the European market and the Asia-Pacific (APAC) region with combined offerings of BYD storage systems and SMA inverters for off-grid applications and self-consumption. The expanded strategic partnership, signed last week at BYD's headquarters in China, will see the companies jointly develop and market technical solutions for the residential and commercial energy storage market. They will continue to offer bundled solutions.
The firms cited data by the Solar Energy Industries Association (SEIA), according to which, the US reached 58.3 GW of total installed photovoltaic (PV) capacity after the second quarter of 2018, and by 2023, is expected to install over 14 GW annually.
"This is a huge market potential which we’d like to address together with a trusted partner like SMA to offer customers end-to-end solutions for all their energy storage demands," Julia Chen, global sales director, BYD Batteries, said in statement today.