Photovoltaic (PV) distributor BayWa r.e. Solar Trade has sold more than 10 GW of modules and inverters combined in 2023 and significantly strengthened its global presence. Despite the challenging market conditions experienced globally, the wholesaler notably increased the sales volume of all its major product categories – not only modules and inverters, but also storage systems, wall boxes and mounting systems, in particular its own brand novotegra.
In a complex market environment impacted by high interest rates, high inventories and especially an oversupply of modules, as well as rapidly falling module prices, BayWa r.e. Solar Trade achieved continued growth, exceeding the 10 GW mark for the first time in its history and developing its global network.
Investment in new markets
During 2023, a key focus was on the expansion to new markets. The wholesaler continued to expand in Europe with market entries in Greece and Latvia, but also in South America in Brazil and Colombia, thereby strengthening its leading position in the international solar distribution market. In addition, BayWa r.e. Solar Trade further increased its warehouse capacities and opened new sales offices in Romania, Bulgaria, Slovakia, Estonia and Lithuania.
Relying on its vast network of more than 20 distribution companies across the globe, the wholesaler successfully navigated through the turbulence of the 2023 market.
Consolidation in 2024
This year, consolidation and efficiency will be high on the agenda within a market environment that is expected to remain complex. However, stabilizing module prices and the growing demand for renewable electricity present favorable opportunities for the solar distribution market. Additionally, electromobility and storage products, as well as the associated demand for self-sufficiency, are becoming increasingly important, especially in the commercial business segments.
Within this context of consolidation, a major focus for BayWa r.e. Solar Trade this year will be to further drive digitalization.
Digitalization as a key focus
BayWa r.e. Solar Trade is committed to crafting the best digital experiences for its customers. Full system configurations via the Solar Trade planning tool Solar-Planit have already been implemented. In order to bring customer service and logistics to the next level, the wholesaler will enhance data analysis from the entire customer journey, while a newly implemented S&OP (Sales and Operation Planning) software will lead to advanced forecasting in 2024.
Frank Jessel, CEO of BayWa r.e. Solar Trade commented: “Last year was challenging, but with our commitment and strategic focus we were able to reach the 10 GW milestone in module and inverter sales, which is a great result. This year, we will continue to drive success by further unlocking our digital potential and improving our customer journey, particularly in e-commerce, where we have recorded more than a 53% increase in sales last year. The whole Solar Trade team, whose dedication is exceptional, looks forward to continuing to thrive in 2024 and beyond."
