Power Optimizer are Expected to Dominate the Global Solar Microinverter and Power Optimizer Market.
High adoption trends regarding clean energy technologies, such as PV systems, among both residential and commercial end users are expected to increase the market share of solar microinverters and power optimizers throughout the projection period.
According to
TechSci Research report, “Solar Microinverter
and Power Optimizer Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”. The Global
Solar Microinverter and Power Optimizer is anticipated to project robust growth
in the forecast period with a CAGR of 10.25% 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 Solar
Microinverter and Power Optimizer market growth. A Solar Microinverter and 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 Solar Microinverter and
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 SolarMicroinverter and Power Optimizer Market.
The utility segment dominates the global Solar Microinverter and 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 Solar Microinverter and Power Optimizer market
forecast growth.
The module level MPPT segment dominates the global Solar Microinverter
and 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 Solar
Microinverter and 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 Solar Microinverter and 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.
Solar Microinverter and Power Optimizer Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Product (Micro Inverter, Power Optimizer), By
Application (Residential, Commercial & Industrial, Utility), By Region,
Competition 2018-2028. has evaluated the future growth potential of Global Solar
Microinverter and 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 Solar Microinverter and Power Optimizer Market.
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