Magnum Inverters – A Name You Could Trust In The Solar Inverter IndustryThat Just Closed Shop We got a lot of questions from the industry and consumers as well about what happen to Magnum Inverters and why they cease operation. For years there were the solar installers and tech savvy customers that new all MAGNUM inverters were the most reliable and cost effective solar power solutions.
But the company’s sudden shutdown leaves clients facing uncertainty about the fate of their current systems, as well as the future of solar tech. In this piece, we’re going to take a look at why Magnum Inverters went out of business, the short- and long-term repercussions of the company shuttering its doors on the solar power scene, and what sort of other options are out there for people who have depended on it.
We’ll also unpick the wider market implications of this move, and give advice on how consumers can negotiate this tough sea change of the industry.
Magnum Inverters – One of the Leading Brands in Solar Inverter Technology
Magnum Inverters borthed in the early 90s made big names for themselves within the solar industry with their innovative tact for converting power. The brand earned the respect of home and business owners with their rugged, reliable inverters. These inverters were amongst the most versatile and efficient on the market and were built to seamlessly integrate with all solar power applications from small residential to commercial and industrial.
During its prime, Magnum Inverters were widely known for reliability and customer support, receiving rave reviews for their energy-efficient features, and the long life of the products. They focused largely on off-grid solar, offering energy independence to homes and businesses in remote locations.
The company’s products filled a gap for solar technology, not least in regions lacking reliable electrical infrastructure. Magnum’s relatively beefy inverters have held a big recently chunk of the U.S. and some of the European solar market, having been a component in thousands of residential and commercial solar installations.
But even so, as forward thinking as they were, and as great of a name that they made for themselves, Magnum’s unwillingness to respond to the quickly shifting technological landscape in the solar industry led to their ultimate demise. Faced with intensifying competition from more modern and upgraded inverter technologies, Magnum found itself playing catch-up in a rapidly evolving marketplace now dominated by smart energy solutions that demanded smarter, modular and scalable inverters.
Why Magnum Inverters Shutdown?
There are various reasons Magnum Inverters went out of business, but identifying those reasons can be informative to the larger situation of what the solar industry as a whole is facing. Financial difficulties was one of major factors.
As the years went on, Magnum had to deal with increasing overhead costs such as increased manufacturing costs, degrading logistics and technology costs as well as the fact they were selling obsolete technology that was expensive to scale.
The renewable energy industry is already high-risk and low-margin, and is already full of entities that could not possibly last long in it. Magnum Inverters had, for years, dominated the market, but was facing increasing financial stress as newer companies from the solar world started dumping big bucks into research and development – towards building smarter, lighter, cheaper inverters.
These firms were able to gain market share by having a more advanced solar power solution that was better suited to modern energy storage, and grid integration, technologies.
What’s more, Magnum’s competition (SolarEdge, SMA, Fronius and other inverter manufacturers) were not only bringing the latest technological innovations to market, but were also providing excellent customer service and longer warranties—two areas where Magnum’s customer satisfaction scores fell short.
As solar technology raced ahead, many more consumers were now looking to smart inverters and systems that could be controlled and monitored using smartphone apps and cloud-based platforms – an area where Magnum was falling behind.
Finally, operational problems such as supply-chain disruptions further undercut the company’s ability to keep up with demand for its products. These interferences, coupled with their own ineffective business practices, caused Magnum to slowly lose its grip on the industry and eventually close their doors.
#Magnum Inverters Closing Sets Off The Solar Market: What is actually Happening?
Former Magnum Inverters owners » The closing of Magnum Inverters is a big hit to the solar energy market, especially to customers and businesses who have used their products for many years. This shutdown could create many problems for existing Magnum Inverter customers. Another immediate concern is the lack of customer service and warranty. As the company shuts operations, it is unclear whether the consumers can expect the standard of service that they received when they joined.
Just like any electrical component, inverters do wear out, and many owners of Magnum inverter owners are now faced with the question of whether or not repair parts or customer service will still be available to them.
In addition, the closure calls into question the long-term viability of Magnum inverter systems which are currently in use. Although they might still work for many years, the lack of a safety net will make trouble shooting or sourcing new components potentially harder. Users may be at the mercy of third party services for repairs, or need to replace their systems with something that won’t crap-out so quickly.
More generally, the solar industry here in the good old US of A could suffer a temporary setback as the market works to find a replacement for Magnum’s missing product. With Magnum being one of those active players in the space, the sudden exit opens a hole for others to step in.
For the solar installers and distributors that supported Magnum’s products, it may be difficult to find a replacement inverter brand that offers as good or better solutions with good pricing. This disturbance may cause a minor deceleration of solar installations and sales, particularly in markets where Magnum Inverters had a high market share.”
Having said that, the market is competitive with a whole world of other respected inverter brands to choose from. Magnum’s absence could also create a void that drives innovation and compels companies to make advances in technology that are even more efficient and cutting-edge.
Alternative for Magnum Inverters
With Magnum Inverters discontinued, customers will be looking at other options for keeping up their solar power system. Fortunately, there are plenty of great options in the solar inverter market, with some of the most popular brands including SolarEdge, SMA, and Fronius.
SolarEdge: As one of the leading solar inverter manufactures, SolarEdge provides highly-efficient, modular inverter solutions that are compatible with smart battery technology. Their panels are respected for their quality, long warranties and compatibility with many solar panel system types. SolarEdge inverters are also compatible with inverter monitoring programs, allowing you to monitor your power production and usage as it happens.
SMA: Reputed German company with a strong portfolio of high-quality inverters, which are both very robust and efficient. They have inverters that are perfect for not only for residential but also for commercial projects with hybrid inverters which work together with energy storage solutions making it a perfect solution for those who want good value for money.
Fronius: Gain in popularity in europe, Fronius is another great substiture for Magnum Inverter. Fronius are at the top of the efficiency, functionality and safety(we now supply a free built-in safety switch) game; with the added bonus of providing some impressive monitoring options that allow for easy output tracking. They also provide great warranties and really have a good reputation for customer service.
When choosing a suitable replacement to Magnum Inverters, there are lots of things to consider like your current solar panel system compatibility, warranty term, ease of maintenance, customer support, etc. You’ll need to work with an installer who is licensed so that the new inverter will be compatible with their solar panel system.
The future Of solar inverter technology
The solar inverter market has continued to race towards the future, and Magnum Inverters closing its doors is simply the latest observer note in an overall trend toward more advanced, flexible and smarter solutions. Technological innovations are likely to shape the sector going forward, and smart inverters and energy storage integration will play a significant role. The increasing popularity of energy storage technologies like lithium-ion has made inverters — devices that can effectively control how energy flows between a solar array, a battery, and the electrical grid — even more critical.
As the market shifts toward connected systems, there probably will be more attention paid to inverters that can communicate with smart grids, as well as with renewable energy generation. The next-generation inverters will be instrumental in building a more flexible, smarter and cleaner energy network that can react to energy requests and manage power inputs, so that, for example, we can trade excess solar power with our neighbors (peer-to-peer market) while helping reduce the price of electricity delivered by local utilities.
Furthermore, smart grid-ready inverters with improved grid control and communication features are going to be the norm for both residential and commercial solar installations. Consumers will require products that provide more optimal management of energy, as well as greater insight into how they consume that energy, to help the industry shift to a cleaner and more efficient grid.
My Final Thoughts
The departure of Magnum Inverters from the solar business has raised concerns about the longevity of a solar power system based on their technology. Their closure creates some short-term pain for customers but it also underscores the fast rate of innovation in solar. This will lead to increasing competition, innovation and improvement in the technology of inverters, finally supported by the market for renewable energy.
For anyone invested in Magnum inverters, the least they can do is look at one of the many other options available on the market, and to invest in an inverter brand that serves them better. It’s a shame Magnum Inverters couldn’t keep up with the market changes, but solar technology is bright and there are a lot of good inverter brands to consider.
