Sigenergy's Journey into the PV Storage Market
Samuel Zhang: Founded in 2022, Sigenergy has quickly become a notable player in the photovoltaic (PV) storage market. Starting its operations in Germany in 2023, the company introduced a groundbreaking bidirectional DC wallbox integrated into a PV storage system. Co-founder and CTO Samuel Zhang shares insights into their journey, innovations, and future plans. As of now, the company is valued at €600 million.
Founding Vision and Leadership
Establishment Goals: Sigenergy was born from observing the renewable energy sector's lack of innovation. They aimed to revolutionize the industry with fresh ideas.
Leadership Background: The company was co-founded by Tony Xu, former President of Smart PV and AI business at a leading tech company. With Samuel Zhang, who boasts over 17 years in PV and energy storage, they assembled a team that rapidly launched innovative products, employing over 600 people within two years.
Innovations and AI Integration
Key Innovations: The standout feature is the integration of artificial intelligence (AI). Sigenergy is among the pioneers in embedding DC fast charging into home energy systems. Their DC charging module offers 25 kW power, giving 130 kilometers of range in an hour, outperforming standard wallboxes by threefold.
AI Utilization: Integrating ChatGPT into their app and cloud platform allows users to get immediate assistance. For instance, customers can ask installation-related questions directly via the app. Moreover, AI aids in energy management, balancing photovoltaic systems, energy storage, EV charging, and heat pumps while adhering to complex regulations like Germany's Section 14a Energy Industry Act. In UK projects, activating AI-driven energy management reduced electricity consumption by 22%. AI also forecasts weather and predicts usage patterns to optimize energy usage.
Vehicle-to-Grid Technology and Market Expansion
Bidirectional Charging: In China, EV manufacturers are rapidly adopting vehicle-to-grid tech. For example, with Sigenergy’s SigenStor, an EV like Nio can act as a backup power source for homes.
European Compatibility: While initial efforts focused on Chinese car makers for quick testing, plans are underway to collaborate with European giants like Volkswagen and Mercedes-Benz. Joint tests with some European manufacturers are already in progress.
Expanding into Commercial Sectors
Product Line: Sigenergy already serves both residential and commercial sectors, with projects up to 3 MWh. Their world-first 5-in-1 energy storage system integrates PCS, battery module, DC wallbox, solar inverter, and energy management.
Advanced Technology: New hybrid inverters with 50 to 110 kW output use silicon carbide technology for lighter and more compact designs, enhancing efficiency and installation ease. These inverters support longer strings and offer extended arc fault protection, leveraging AI. Battery modules offer 10.75 kWh capacity, with up to 21 modules connected in series.
Financial Backing
Top Investors: Sigenergy is backed by major investors from Asia and the USA, with Hillhouse Capital being the largest. Valued at approximately $600 million, these investments drive their ambitious projects forward.
