Solax Power

About Solax Power

SolaX Power is a Chinese manufacturer of solar inverters, energy storage systems, and EV chargers, founded in 2012 by Chairman Li Xinfu. The company, a subsidiary of the Suntellite Group which is owned by Zhejiang University, has its headquarters in Hangzhou, China. SolaX Power has grown to over 2,000 employees and serves over 80 countries, with offices in the UK, Netherlands, Germany, Australia, Japan, and the US. The company's history began with its establishment in 2012, and in 2013 it introduced its first hybrid inverter. A significant milestone was its entry into the UK market in 2014 and a partnership with LG Chem in 2015 for a residential battery and inverter system. SolaX launched its first commercial string inverter series in 2021 and introduced the X3-Ultra three-phase hybrid inverter in 2023. On January 3, 2024, SolaX Power completed its initial public offering (IPO) and was listed on the Shanghai Stock Exchange STAR Market, raising approximately CNY 2.2 billion. SolaX Power's business model focuses on the research and development, production, and sale of photovoltaic products. It operates globally, selling to residential, commercial, industrial, and utility-scale clients. The company's revenue is generated through the sale of its hardware, including inverters, batteries, and other related accessories. The product portfolio is extensive, featuring single and three-phase solar inverters, hybrid inverters like the X-Hybrid series, and battery storage solutions such as the Triple Power battery range. These systems are designed to maximize solar self-consumption, allowing users to store surplus energy for later use, which is particularly beneficial in regions with low feed-in tariffs. The X-Hybrid system can operate in multiple modes, including 'Self-Use' and 'Back-Up', providing energy security during power outages. The company also offers integrated all-in-one systems like the X1-IES and the recently launched AEGIS series for off-grid homes, EV chargers, microinverters, and smart energy management platforms like the SolaX Cloud. SolaX has also developed AI-powered tools such as XAgent and XCopilot to enhance energy management and system operations.