When did you found Sigenergy and with what goal?
Samuel Zhang: Sigenergy was founded in 2022. We observed the trends in the renewable energy sector and found that a number of solutions were not particularly innovative. We wanted to create something new and usher in a new era in this industry.
What is your background and that of the company?
The company was founded by Tony Xu. He used to be President of the Smart PV business for over ten years and President of the AI business for three years at one of the world's leading technology companies. As the founder and CEO, Tony took the team from zero to number one in inverters and energy storage globally. I myself have over 17 years of experience in PV and energy storage systems and developed the first string inverter at the same company. We now want to write a new success story. Sigenergy has grown rapidly in just two years and our team of over 600 employees has successfully placed one of the most innovative product portfolios on the market in this short time.
What is the biggest innovation you want to bring to the market?
The most innovative point is the integration of artificial intelligence. We are one of the first companies to integrate DC fast charging function into home energy system. The optional DC charging module with 25 kW charging power delivers up to 130 kilometers of range in one hour of fast charging, more than three times as much as a standard wallbox. Another innovative point is that we are “vehicle-to-grid-ready”.
How do you use artificial intelligence in your systems?
Firstly, we have integrated ChatGPT into our app and cloud platform. We provide specific training for the ChatGPT model and integrate it into the user interface for our customers to help them and answer their questions more quickly.
For example, they can ask the app directly how to install a Sigenergy system. We also use artificial intelligence for energy management. This is much more complicated today than it used to be. In the past, we only looked at photovoltaic systems. Now we have to take into account energy storage, charging electric vehicles and heat pumps, as well as the complicated regulatory requirements, such as those relating to Section 14a of the German Energy Industry Act (EnWG).
We have integrated AI technology into energy and dispatch management. In projects in the UK, we carried out on-site comparisons: First we did not activate the AI-driven energy management function, then we activated it. This enabled us to save 22 percent of electricity consumption. Of course, dynamic electricity tariffs also play a role here. We already support these in numerous European countries, including Germany. For example, we use artificial intelligence to forecast the weather based on historical data and predict the usage habits of residents in order to optimize energy use.
What is the status of bidirectional charging in China?
The electric vehicle industry in China is growing rapidly. Most car manufacturers in China are considering vehicle-to-grid technology. For example, you can see a vehicle from car manufacturer Nio at our booth. With SigenStor, Nio car is able to be a huge backup power to supply homeloads in China.We believe that vehicle-to-grid technology will not only take off in China, but worldwide.
Are you also planning to become compatible with European vehicle manufacturers?
So far, we have considered Chinese car manufacturers because it was quicker and easier for us and the tests could be carried out more quickly. In the future, we will also work with Volkswagen and Mercedes-Benz, for example. We are already conducting joint tests with some European manufacturers and are trying to get in touch with all the well-known manufacturers.
Companies such as Huawei and Sungrow are also very strong in commercial and ground-mounted systems with their string inverters. Will Sigenergy also enter these segments?
Our current product line already covers both the residential and commercial sectors. Projects up to 3 MWh have already been installed and demonstrate the practicality of our world's first 5-in-1 energy storage system for the commercial sector. Here we have integrated Power Conversion System (PCS), battery module, DC wallbox, solar inverter and energy management system. We are now offering a further developed product portfolio specifically for large solar systems and are also setting milestones here. The hybrid inverters have an output of 50 to 110 kilowatts and are one of the first manufacturers to use the new and innovative silicon carbide (SiC) technology for the semiconductor components. This leads to a weight reduction of around 20% and a volume reduction of around 40%, resulting in significant savings along the entire supply and installation chain. Improved temperature management also ultimately leads to increased efficiency. In addition, the inverter offers an extended arc fault protection function. It supports longer strings than usual, with a detection range of up to 500 meters. Incidentally, artificial intelligence is also used for this. These inverters can be used as pure solar inverters in large systems and parks and can be combined with battery modules if required. The new battery modules have a usable capacity of 10.75 kilowatt hours. Customers can connect between 4 and 21 battery modules in series and combine them with the hybrid inverter.
How is Sigenergy financed?
We have several top investors, both from Asia and the USA. The largest investor is Hillhouse Capital, one of the largest financiers for renewable energies in Asia, which has also invested in Longi and CATL, for example.
As for now, our estimated enterprise value from the last financing rounds is around 600 million US dollars.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.