以下沉产业链为根基，潮电智库特选出逆变器行业系列明星产品进行拆解，旨在通过展现内部核心结构件及成本占比，为中国供应链找到更准确的商机落点。
继阳光电源SG125HV、古瑞瓦特MAX 80KTL3 LV、固德威GW15K-SDT之后，本期拆解主角为微逆行业绝对龙头Enphas的IQ7+。
Enphase Energy, Inc于2006年3月在美国特拉华州成立，目前是全球第一的微型逆变器制造商，主打产品为IQ系列微型逆变器。
本次拆解的IQ7+，即IQ系列第7代微型逆变器产品，支持72片的光伏组件，输出功率达到290VA；内置快速关闭合规，用于户外分布式光伏发电。因为采用塑料外壳，内部灌胶密封工艺，该款微逆仅有938克，不到1公斤的重量。
潮电智库拆解所得，Enphase IQ7+主要供应商依然由多国“联合部队”构成。核心IGBT与MOSFET芯片基本由海外大厂牌英飞凌和安森美垄断；与之前阳光电源、古瑞瓦特、固德威等国产逆变器不同，IQ7+的MCU芯片由Enphase自研；电感、PCB、散热器等结构件，则分别由来自中国的伊戈尔、骏亚科技、AVC（台湾地区）主供。
必须指出，在潮电智库的拆解内容中，虽然伊戈尔出现在多家一线企业明星逆变器产品的主力供应链阵容中，但营收业绩并没有顺势起飞。
年报数据显示，去年全年伊戈尔（002922.SZ）营收28.21亿元，同比增长26.5%；净利润1.92亿元，同比微增1.63%。今年第一季度，伊戈尔营收6.39亿元，同比增长0.49%；净利润1902.92万元，同比大幅下滑45.55%。
“增收不增利”的局面，可见逆变器供应链内卷程度急速加剧中。
7月初，Enphase官方表示，目前公司微型逆变器已开始从美国首批发货。每个制造工厂的资本投资将接近2000万美元，共投产3个工厂总计6000万美元。所有3座工厂建成时，将使Enphase能够每季度生产450万个，或每年生产1800万个微型逆变器IQ8。
值得注意的是，拜登考察了Flex工厂。他宣称自他担任总统以来，美国在整个太阳能供应链上已经发布了60多项国内制造公告。
Enphase IQ7+: A Breakdown of Leading Microinverter Unveils Key Chinese Suppliers
In a bid to shed light on the intricate world of microinverters, ChaoDian presents an exclusive dissection of Enphase's IQ7+.
As the world's premier microinverter manufacturer, Enphase Energy, Inc. has made remarkable strides in the industry with its IQ series microinverters.
The IQ7+, which is the 7th generation of the IQ series, is the focal point of our dissection. Boasting compatibility with 72 photovoltaic modules and an impressive output power of 290VA, this microinverter features built-in rapid shutdown compliance tailored for outdoor distributed photovoltaic power generation. Remarkably lightweight at just 938 grams, this marvel of technology showcases a plastic housing and resin sealing process for optimal performance.
Delving into the supply chain, Enphase IQ7+ continues to form a formidable "united front" with suppliers hailing from multiple countries. The core IGBT and MOSFET chips remain monopolized by overseas giants like Infineon and ON Semiconductor. In contrast to domestic inverter manufacturers, Enphase's MCU chip is an in-house creation. Key structural components, including inductors, PCB boards, and heat sinks, are proudly provided by prominent Chinese companies Igor, Junya Technology, and AVC (Taiwan).
It is noteworthy that Igor, a mainstay in several prominent supply chains, has yet to see a proportional surge in revenue. In the past year, Igor recorded a revenue of 2.821 billion yuan, marking a 26.5% year-on-year increase. However, the net profit saw a modest 1.63% increase, reaching 192 million yuan. Alas, Igor's first-quarter revenue showed a marginal 0.49% year-on-year increase, while net profit experienced a substantial decline of 45.55%.
As Enphase Energy officially announced the commencement of microinverter shipments from its US facilities, President Biden's visit to the Flex factory further emphasized the significance of domestic solar manufacturing, with over 60 announcements being made across the entire solar supply chain since he took office.
The ChaoDian's dissection endeavors to shed light on the complexities of the microinverter industry, unveiling crucial components and cost distribution to uncover precise business opportunities for China's supply chain. Stay tuned as we continue to explore the limitless potential of intelligent vision perception technology in the automotive industry!
