Sungrow Power Supply Co. surpassed Longi Green Energy Technology Co. as the world’s most valuable solar sector company, as tumbling equipment prices squeeze margins for manufacturers of panel components.
Hefei, China-based Sungrow gets the largest share of revenue from sales of inverters, the technology needed to convert direct current solar electricity into the alternating current that’s used in most power grids. The firm’s product mix offers “high volume growth” and relatively sustainable margins, Citigroup Inc. said in a note this month.
