AP Systems

What AP Systems does

AP Systems (Altenergy Power System Inc., 昱能科技) is a Chinese MLPE (Module Level Power Electronics) technology company that designs and manufactures microinverters, component-level rapid shutdown devices, and energy storage systems for distributed solar PV applications. Founded in 2010 in Jiaxing, Zhejiang by a team of overseas returnees and private capital, the company pioneered the industry-first multi-body microinverter architecture in 2013 and has since expanded into a four-brand product ecosystem: APsystems (microinverters), APsmart (rapid shutdown devices with self-developed ASIC chips), APsaas (EMA cloud-based monitoring and intelligent O&M platform), and APstorage (residential, commercial, and industrial energy storage systems including the APstorage 241L/261L/2000L liquid-cooled cabinets and the Ocean series string-storage portfolio from subsidiary Lingchu Yuneng / 领储宇能). Hardware is complemented by the EMA database platform (550,000+ users, 70TB data) and emerging AI products (BESS AI, AP Designer, APbot).

The company is publicly listed on the Shanghai Stock Exchange STAR Market (ticker 688348.SH) following its 2022 IPO and operates 10 wholly-owned subsidiaries plus 5 warehouses across the US, Australia, France, Netherlands, Mexico, Brazil, and China, serving 168 countries. Its technology emphasizes low-voltage safety (<60V DC residential, <120V commercial) to eliminate arc-fault and fire risk, component-level MPPT to avoid 'shortboard' production losses from shading or mismatch, and NEC 2017/2020 rapid shutdown compliance for the US market. The portfolio spans fourth-generation 20A high-current microinverters (DS3D 2 kW quad-body, QT2D 3.52 kW eight-body three-phase), plug-and-play DIY products (EZ1, EZ1D), a residential hybrid storage line (Lake 6, LSH-6, LSA-6, EZHI), and C&I/utility storage from 30 kWh to 5 MWh. Reported cumulative MLPE shipments exceed 7.5 GW and installed systems exceed 652,591 units, generating an estimated 9.5 TWh of clean energy.

The business model is hardware-led: products are sold through a global network of distributors and installers, supported by regional subsidiaries that provide local sales, training, and 24/7 after-sales service. Hardware revenue is supplemented by the EMA platform (effectively a subscription-adjacent monitoring service) and project-based C&I storage contracts through developer partnerships. Customer segments are diversified across residential, small commercial, C&I, utility-scale storage, and building-integrated PV, with pricing set per-unit through distributor channels rather than published list prices. R&D intensity is unusually high — over 50% of the 101-250 employee base is in R&D, supported by 231+ IP rights and 102 invention patents. The company holds Wood Mackenzie Grade A / Global Top 10 PV Inverter Manufacturer recognition and EUPD 'Top Brand PV Inverter' in France, Netherlands, and Latin America for 7+ consecutive years.

Name

AP Systems

Legal name

昱能科技股份有限公司

Website

https://apsystems.cn

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

AP Systems (Altenergy Power System Inc., 昱能科技) is a Chinese MLPE technology company that designs and manufactures microinverters, component-level rapid shutdown devices, and energy storage systems for distributed solar PV markets across 168 countries, listed on Shanghai's STAR Market since 2022.

Ownership category

akta.pro rank

Product category

Solar Power Electronics (MLPE)

NAICS

Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512), Other Measuring and Controlling Device Manufacturing (334519)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electronic Components & Accessories (3670)

akta.pro primary industry

Solar Inverters, Power Optimizers & MLPE Manufacturing (EUAMAHAB)

akta.pro secondary industries

Solar Inverters, Power Electronics & MLPE (String/Central Inverters, Optimizers, Microinverters) (EUAMABAE), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC)

Keywords

• MLPE power electronics
• Solar microinverter systems
• Component-level rapid shutdown
• Distributed energy storage
• Residential solar inverters

Headquarters

HQ city

Jiaxing

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. MLPE Hardware Products: Sale of microinverters (DS3D, QT2D, EZ1, EZ1D), rapid shutdown devices (RSD-S, RSD-D, Transmitter), and energy storage systems (ELS, ELT, APstorage). Primary revenue driver. Products sold through distributors and installers globally.
2. EMA Monitoring Platform (SaaS): Cloud-based monitoring and analytics platform for PV systems. Provides real-time component-level monitoring, remote upgrades, and fault diagnostics. Part of product ecosystem.
3. C&I Energy Storage Solutions: Large-scale commercial and industrial energy storage systems including container storage (APstorage 2000L) and string storage (Ocean series). Sold as complete solutions through project developers and distributors.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

AP Systems designs, manufactures, and sells Module Level Power Electronics (MLPE) for distributed solar PV, including multi-body microinverters, NEC-compliant component-level rapid shutdown devices, and energy storage systems (residential, C&I, and utility-scale). Products are sold globally under the APsystems, APsmart, APstorage, APsaas, and Lingchu Yuneng (领储宇能) brands to distributors, installers, project developers, and end customers across residential, commercial, industrial, and utility segments in 168+ countries.

Product overview

APsystems (昱能科技) offers a comprehensive distributed solar-plus-storage portfolio spanning microinverters, rapid shutdown devices, energy storage systems, and intelligent monitoring platforms. The product ecosystem includes: (1) Microinverters: DS3D (2000W quad-body), QT2D (3520W eight-body three-phase), EZ1/EZ1D (1000-2000W for balcony/DIY); (2) Rapid Shutdown: RSD-D/RSD-S devices and Transmitter for NEC compliance; (3) Energy Storage: ELS-3K/5K residential inverters, Lake 6 balcony ESS (6kWh), LSH-6/LSA-6 inverters, APstorage 241L/261L/2000L commercial/industrial systems, and Ocean series (30L/100L/200L) for substation applications; (4) Intelligent O&M: EMA cloud platform, ECU-R/ECU-C communicators, and 昱能云/昱能云管 mobile apps; (5) AI Products: BESS AI for home energy management, AP Designer for power station design, and APbot customer service robot. Products support AI-driven energy optimization, VPP trading, and grid-forming capabilities across residential, C&I, and utility-scale applications.

Differentiator

Problem solved

Functional benefit

Brands

• APsmart: Component-level rapid shutdown devices (RSD-S, RSD-D) using self-developed ASIC chips for PV safety solutions.
• APsaas
• APstorage
• BESS AI
• AP Designer
• APbot
• 领储宇能 (Lingchu Yuneng)

Products and services

• DS3D Microinverter
• QT2D Microinverter
• EZ1 Microinverter
• EZ1D Microinverter
• S3 Single-Phase Microinverter
• EZHI Hybrid Microinverter
• RSD-D Rapid Shutdown Device
• RSD-S Rapid Shutdown Device
• Transmitter
• ELS-3K/5K Energy Storage Inverter
• Lake 6 AC-Coupled ESS
• LSH-6 Hybrid Inverter
• LSA-6 AC-Coupled Inverter
• APstorage 241L
• APstorage 261L
• APstorage 2000L
• Ocean Series String-Type Liquid-Cooled Storage (30L, 100L, 200L)
• EMA Database and Intelligent O&M Platform
• ECU-R Energy Communicator
• ECU-C Energy Communicator

Quantifiable outcome

• 9.5 TWh clean energy generated, avoiding 12 million tons CO2 emissions
• +5 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature6 records

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Fronius International: Austrian solar inverter and storage manufacturer focused on European distributed generation. Overlaps with APsystems in residential inverters, monitoring and storage solutions, particularly in the DACH and EU markets.
• Ginlong Solis: Established global string inverter and storage manufacturer with strong distribution in distributed solar. Comparable to APsystems' residential and C&I product positioning.
• Sungrow Power Supply: Largest global solar inverter manufacturer with broad portfolio spanning string inverters, central inverters, and utility-scale energy storage. Overlaps with APsystems in hybrid/residential storage and is a major competitor in C&I and utility storage tenders.
• Growatt: Major string inverter and storage manufacturer serving residential and C&I markets globally. Competes with APsystems on residential hybrid inverters and storage, particularly in distributed generation markets.
• Huawei Digital Power: Global smart PV and string inverter incumbent with strong C&I and utility presence. Competes with APsystems in inverter-driven PV projects and increasingly in AI-enabled energy management software.
• SMA Solar Technology: German solar inverter incumbent with broad portfolio across residential, commercial and utility. Overlaps with APsystems in residential hybrid inverters, storage and energy management.

Direct peers

• Hoymiles: China-based microinverter and MLPE manufacturer with similar multi-module architecture products (HMS/HMT series) targeting residential and small commercial markets. Closely comparable to APsystems in product category, channel model and geographic focus.
• Enphase Energy: Global leader in microinverters and MLPE, serving residential and commercial solar markets with a comparable product architecture (microinverters, storage, monitoring). Most direct comparable to APsystems' core microinverter business and storage expansion.
• SolarEdge Technologies: Pioneered module-level power electronics via DC power optimizers paired with string inverters, plus storage. Direct MLPE category peer, though architecturally different from microinverters, and overlapping in rapid shutdown and monitoring.

Emerging players

• Deye: China-based manufacturer of hybrid inverters, microinverters and energy storage systems with growing global channel. Direct competitive overlap with APsystems in residential solar-plus-storage product categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AP Systems