Toshiba Mitsubishi Venture Says Solar Inverter Orders Rose 48%

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.

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