Utility are Expected to Dominate the Global Power Optimizer Market.
According to
TechSci Research report, “Global Power Optimizer Market
- Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Power Optimizer is anticipated to project robust growth in
the forecast period with a CAGR of 7.7% through 2028. The growing installations
of renewable energy source for power generation across the globe are boosting
the demand for MPPT systems. The key market players are focusing on the
integration of various functions in a single product including advanced power
line communication, monitoring, and safety shutdown, which will stimulate the
market. In addition, increasing investment in green buildings, which require
stable and reliable electrical infrastructure are fueling the power optimizer
market growth. A power
optimizer is a DC to DC energy converter, which was created to increase the
amount of energy solar PV systems can produce. The main task is to modify or
optimize the panel's performance using maximum power point tracking (MPPT) or
to match the string inverter's performance. Power optimizers are particularly
helpful when the effectiveness of the power generating elements in a
distributed system will vary significantly, for example, because of differences
in equipment, shading from light or wind, being installed facing different
directions, or being located in locations that are far apart.
Standalone solar systems play an important role in expansion of energy
access in various regions such as South Asia and African countries. The private
investors have embraced the standalone products as sustainable solutions for
electricity access as these systems offer low management and maintenance costs
for the deployment of solar panels, which likely boost power optimizer market.
Increasing awareness regarding the use of low carbon intensive technologies to
mitigate GHG emission will drive the market. Furthermore, the presence of
government incentives and reduction in taxes in developing countries promote
the use of solar have positive impact on the development of the market.
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Figures spread through 188 Pages and an in-depth TOC on " Global PowerOptimizer Market.
The utility segment dominates the global power optimizer market. Utility
scale solar is a reliable source for stable clean electricity for decades.
Developing utility scale solar power is one of the fastest ways to reduce
carbon emissions and put the world on a path to clean energy future. Utility
scale solar facilities are used to generate solar power to feed into the grid,
supplying a utility with energy. Furthermore, the presence of benefits such as
stabilizes electric prices over a long period of time, and can be paired with
battery storage. The presence of above mentioned advantages will drive the
power optimizer market forecast growth.
The module level MPPT segment dominates the global power optimizer
market. MPPT is necessary for any solar power systems, as it can extract
maximum power from PV module; it forces PV module to operate at voltage close
to maximum power point to draw maximum available power. The module level MPPT
prevent power loss even under panel mismatch or partial shading as it uses a
highly optimized algorithm to track the maximum power point of each module
individually. In addition, it offers possibilities for future applications in
Building-Integrated Photovoltaic; solar windows, solar walls, and rooftop solar
arrays. Furthermore this algorithm allows the solar power system to react more
effectively to changes in irradiance and temperature which is a big benefit on
cloudy days. The above mentioned are major factors which provide growth
conditions for the development of the market. The market for power optimizers
is quite new. There is a lack of manufacturers in the market to fulfill the
customer demands, other inverter brands cannot be used to link with their power
optimizers. However, the installation expenses are also a little more than with
a standard string inverter solar panel system because power optimizer equipment
is installed on every solar panel. Even a 6kW system is expected to cost
significantly more than conventional equipment. This cost increase is quite
small when compared to more expensive micro inverters, but it is nevertheless
important to note in this context.
Key market
players in the Global Power Optimizer Market are following: -
- Altenergy Power System, Inc
- Enphase Energy
- SolarEdge Technologies,
Inc
- I-Energy Co., Ltd
- SunPower Corporation
- KACO New Energy, Inc
- Alencon Systems
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“Off-grid solar
power systems have been essential in increasing energy availability in a number
of countries and regions. Standalone solutions have gained support from private
investors, end-users, and policymakers as an inexpensive and sustainable solution
for electricity access. These systems provide minimal management and
maintenance expenses for the installation of solar panels, which is likely to
boost market demand for power optimizers. The market volume is expected to be
driven by rising consumer awareness of the adoption of low carbon-intensive
technology to reduce GHG emissions. ” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
Power Optimizer Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented By Connectivity
(Standalone, On-Grid), By Application (Residential, Commercial, Utility), By
End Use (Module Level MPPT, Advanced Power Line Communication, Monitoring
Components, Safety Shutdown Components, Others), By Region, Competition
2018-2028. has evaluated the future
growth potential of Global Power Optimizer Market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Global Power Optimizer Market.
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