Must Energy Group

What Must Energy Group does

Must Energy Group is a Foshan, Guangdong-headquartered electrical manufacturer founded in 2004 that designs, produces, and globally distributes solar energy storage products for residential, commercial, industrial, and off-grid applications. Its core technology portfolio includes hybrid and off-grid inverters (PV, PH, EP series, ranging from 300W to 12 kW), lithium iron phosphate (LiFePO4) battery systems (LP low-voltage, 0.64–40.96 kWh; HV high-voltage, scalable to over 1 MWh), integrated all-in-one energy storage systems (HBP series; PM + HPC balcony solution with plug-and-play micro-inverter), online UPS systems (EH series), and MPPT solar charge controllers (PC series). The company holds proprietary technology in battery management systems (BMS), MPPT algorithms, and modular scalable architecture, with products integrating WiFi/Bluetooth remote monitoring, CAN/RS485 BMS communication, Sunspec Modbus interoperability, and diesel-generator integration — covered by ISO9001/14001/45001/IECQ/UL/CE/SGS certifications and the EU Battery Regulation (EU) 2023/1542.

The company operates from a 45,000 m² automated manufacturing facility in Foshan and an R&D/sales center in Shenzhen (2,500 m²), and reaches customers across 100+ countries through a tiered global distributor network (Exclusive Agent, National Agent, Co-Branded Agent) combined with wholly-owned regional subsidiaries in Poland, South Africa, Nigeria, Panama, Brazil, Colombia, UAE, Egypt, Thailand, Zambia, and Zimbabwe. Revenue is generated predominantly through hardware sales (inverters, batteries, integrated systems) with quote-based pricing and multi-year distributor contracts, supplemented by training, technical support, and after-sales professional services. The end-customer base spans homeowners seeking energy independence and backup power, small-to-medium commercial enterprises, and remote/off-grid communities in developing markets (Africa, Latin America, Southeast Asia). Recent commercial momentum includes the company's 2023 Series A financing and IPO-coaching engagement, 2024 international expansion under China's Belt and Road policy, 2024 Polish procurement whitelist inclusion, 2025 TÜV SÜD Sunspec Modbus certification, and October 2025 launches of the PV9000, PH1100, and C&I energy storage product lines.

According to company disclosures, MUST has cumulatively deployed 12 GW of household photovoltaic storage capacity, serves more than 300,000 households globally, and has delivered over 5 million solar systems since its founding; the company's stated metrics include 700+ global senior employees (100+ senior R&D engineers), 1.5 million kWh of annual solar equipment production, and an estimated 12,000 tons CO2e of annual emissions reduction across its installed base.

Name

Must Energy Group

Legal name

MUST ENERGY (GUANGDONG) TECHNOLOGY CO., LTD

Website

https://mustenergy.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Must Energy Group is a Foshan, China-based manufacturer of solar energy storage products, including hybrid and off-grid inverters, LiFePO4 batteries, and integrated energy storage systems, serving residential, commercial, industrial, and off-grid customers across 100+ countries through a tiered global distributor network and regional subsidiaries.

Ownership category

akta.pro rank

Product category

Solar Inverters and Energy Storage Systems

NAICS

Battery Manufacturing (33591), Battery Manufacturing (335910), Solar Electric Power Generation (221114)

SIC

Power, Distribution & Specialty Transformers (3612), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Switchgear & Switchboard Apparatus (3613)

akta.pro primary industry

Solar Inverters, Power Optimizers & MLPE Manufacturing (EUAMAHAB)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), PV Balance of System (BOS) & Electrical Infrastructure (Inverters, Transformers, Cabling, Substations) (EUACAGAC), Residential / Behind-the-Meter Storage Installation & Integration (EUAEAEAC), Renewable Power Electronics & Advanced Inverters R&D (SiC/GaN, Grid-Forming, HVDC Converter Tech) (EUAMAOAF)

Keywords

• Solar inverters
• Energy storage systems
• Lithium batteries
• UPS power supplies
• Photovoltaic solutions

Headquarters

HQ city

Foshan

HQ country

China

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Solar Inverters: MUST manufactures and sells various solar inverters including hybrid, off-grid, and grid-tied inverters. Products range from residential single-phase (3.6-12kW) to commercial three-phase systems (up to 50kW+). Revenue generated through direct sales and distributor channel.
2. Lithium Battery Systems: LiFePO4 battery products including low voltage (LP series) and high voltage (HV series) systems. Capacities range from 0.64kWh to over 1MWh for commercial installations. Sold through distributors and direct enterprise sales.
3. Integrated Energy Storage Systems: Complete all-in-one ESS solutions combining inverters and batteries for residential and commercial applications. Includes balcony storage, home backup, and C&I systems.
4. Professional Services: Training programs, technical support, and after-sales services for distributors and end customers. Includes installation training, troubleshooting support, and ongoing technical assistance.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Must Energy Group manufactures and sells solar inverters, lithium iron phosphate (LiFePO4) battery systems, integrated all-in-one energy storage systems (ESS), and uninterruptible power supplies (UPS). The company produces a full portfolio covering off-grid, hybrid, and grid-tied inverters from residential single-phase (300W-12kW) to commercial three-phase systems, paired with low-voltage and high-voltage battery modules for solar-plus-storage applications across 100+ countries.

Product overview

MUST Energy Group is a global manufacturer of solar energy storage products offering a comprehensive portfolio organized into three main categories: solar inverters and chargers (PV, PH, EP series), lithium battery storage systems (LP, HV series), and integrated energy storage solutions (HBP, PM+HPC, EM series). The product portfolio also includes UPS systems (EH, EW series) and charge controllers (PC series). The company provides solutions for residential, commercial, industrial, and off-grid applications, with regional variants supporting EU, US, and Latin American voltage standards. Key product lines include micro-inverters and balcony storage systems for residential applications, hybrid inverters with integrated battery management for whole-home energy storage, and large-scale commercial energy storage cabinets with capacities up to 2.4MWh. The products are designed to work independently or together as complete solar-plus-storage systems for diverse global markets.

Differentiator

Problem solved

Functional benefit

Brands

• PV9000 Series: Off-grid energy system series designed for households seeking energy independence
• PH1100 Series
• HBP Series
• LP Series
• HV Series

Products and services

• PV Series Off-Grid Solar Inverters A comprehensive line of off-grid solar inverters (PV1500, PV1800, PV1900, PV2900, PV3000, PV3300, PV3900, PV9000 series) ranging from 300W to 12kW, converting DC power from solar panels to AC power for residential and commercial users. IP65 protection, supports low-voltage 40-60V batteries, MPPT solar chargers, WiFi monitoring options.
• PH Series Hybrid Inverters PH1100 and PH1800 series hybrid inverters combining on-grid and off-grid functionality with integrated MPPT solar chargers and battery management. Power range 3.6-12kW, supports parallel operation up to 6-10 units, 100% unbalanced output, AC coupling, IP65/IP66 protection, regional variants for EU, US (split-phase), and Americas markets.
• EP Series Low Frequency Inverter Chargers

Quantifiable outcome

• 500,000+ households powered globally
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• THA SolutionscoreImplementation/ SI/ Consulting Partner · 16 October 2024THA Solutions is a local solar solutions provider in Madagascar that partnered with MUST client SOL+ to launch an innovative OFF-GRID training program. Together they implemented a solar energy system in their warehouse featuring MUST inverters and lithium batteries, serving as a dynamic training platform for participants to learn about solar energy solutions.
• SOL+coreChannel Partner/ Reseller/ DistributorMUST's client SOL+ partnered with THA Solutions to launch OFF-GRID training program using MUST products. SOL+ serves as a channel partner implementing solar solutions and training customers on MUST's OFF-GRID system.
• Tana Auto Club Sport (TACS)minorStrategic or Co-development PartnerTACS organized the 'Course de Côte Défi Bardhal' hill climb challenge event in Madagascar, fully powered by solar energy using Home Power Madagascar's HBP series solar energy storage solutions from MUST.
• University Sergio ArboledaminorStrategic or Co-development PartnerAcademic partner in the Kankuamos indigenous community solar project in Colombia. Professors and academic team collaborated on the sustainable development initiative.
• ACCRIK (Kankuamos Community)minorStrategic or Co-development PartnerIndigenous community organization in César, Colombia that partnered with MUST for off-grid solar installation powering community infrastructure including 3hp crusher motors.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Growatt: Shenzhen-based manufacturer of solar inverters and lithium battery storage systems serving residential and C&I markets globally. Directly comparable to MUST in product portfolio (string inverters, hybrid inverters, LiFePO4 batteries, all-in-one ESS), channel strategy (distributor-led), and target geographies (100+ countries with strong EU and emerging market presence).
• Sofar Solar: Chinese manufacturer of grid-tied and hybrid inverters plus battery storage solutions for residential and commercial applications. Closely matches MUST's product architecture (hybrid inverters in 3-12kW residential range, high-voltage battery systems) and global distribution approach through partner networks.
• Deye (Ningbo Deye Technology): Chinese manufacturer of string inverters, hybrid inverters, and microinverters plus LiFePO4 batteries. Comparable to MUST in residential ESS focus, microinverter offering for balcony systems, and aggressive international expansion into Europe, Africa, and Latin America.
• Solis (Ginlong Technologies): Ningbo-based manufacturer of string inverters and energy storage solutions with global distributor network. Overlaps with MUST in residential and small commercial inverter segments, similar China-based manufacturing economics, and comparable international footprint across 100+ countries.

Broad incumbents

• Sungrow: Largest Chinese inverter manufacturer with a much broader portfolio spanning utility-scale PV, ESS, EV charging, and floating PV. Overlaps with MUST in residential hybrid inverters and C&I ESS, but operates at materially greater scale and with deeper R&D investment in grid-forming technology.
• Huawei Digital Power (FusionSolar): Global leader in smart PV solutions including string inverters and smart ESS. Competes with MUST across residential, C&I, and utility segments but operates at vastly greater scale with proprietary smart grid optimization and AI-based monitoring capabilities.
• SMA Solar Technology: German inverter manufacturer with established brand in European residential and commercial segments. Competes with MUST in hybrid inverters and battery-ready platforms but differentiates on premium quality and grid services rather than cost-competitive hardware.
• Enphase Energy: US-listed microinverter and battery specialist. Comparable to MUST in microinverter technology for balcony and rooftop residential solar, plus integrated IQ battery storage. Differentiates on proprietary semiconductor design and software platform rather than cost-led manufacturing.
• Fronius: Austrian manufacturer of solar inverters and welding equipment with strong European residential and commercial market presence. Comparable to MUST in hybrid inverter offerings but positioned as premium European brand with higher price points.
• SolarEdge Technologies: Israeli designer and manufacturer of DC-optimized inverter systems and battery storage. Comparable to MUST in residential ESS (Energy Bank) and inverter-plus-storage bundles, with stronger software and module-level power electronics differentiation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/must_power
• YouTubeyoutube.com/@MUSTENERGY
• Facebookfacebook.com/mustsolarpowerenergy
• LinkedInlinkedin.com/company/mustpowerenergy
• Instagraminstagram.com/mustenergygroup
• TikToktiktok.com/@mustenergy

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 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 Must Energy Group