Toshiba Mitsubishi Venture Says Solar Inverter Orders Rose 48%

(Bloomberg) — Toshiba Mitsubishi-Electric Industrial
Systems Corp.
said orders for solar inverters rose 48 percent
last fiscal year.

Orders for inverters increased to 2,905 megawatts for the
year ended March 31 compared with 1,965 megawatts a year ago,
the venture between Toshiba Corp. and Mitsubishi Electric Corp.
said in a statement Wednesday.

Actual shipments of inverters, which allow solar power to
be fed into grids, rose to 2,536 megawatts from 1,606 megawatts,
according to the statement.

The company’s solar inverter shipments and orders have been
increasing rapidly since 2012 after Japan introduced an
incentive program for clean energy, data from the company
showed.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at
cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Jason Rogers, Iain Wilson

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