United States Solar Microinverter Market to Witness High Growth During Forecast Period
Rise in residential solar
rooftop installations is expected to drive the growth of United States solar
microinverter market
According to
TechSci Research report, “United
States Solar Microinverter Market By Type (Single Phase and Three Phase),
By Connectivity (Integrated, Standalone), By Application (Residential,
Commercial, PV Power Plant), By Sales Channel (Direct and Indirect), By Region,
Competition, Forecast & Opportunities, 2025”, United States solar
microinverter market is expected to witness formidable CAGR during the forecast
period. Rapid increase in renewable energy investment is one of the major factors accounting
for the growth of United States solar microinverter market. Moreover, ongoing
advancements in research and development of solar micro inverters is expected
to bode well for the growth of United States solar microinverter market through
the forecast period. In addition to this, growing demand from residential and
consumers market is expected to positively influence the growth of United
States solar microinverter market in the years to come. Also, solar
microinverter offers certain benefits over conventional solar inverter
technologies is further making headway for the growth of United States solar
microinverter market. However, there are some factors that might act as major
impediments to the growth of United States solar microinverter market through
2025 such as higher initial and maintenance cost of solar micro-inverters in
comparison to central and string inverter installation as it requires more
components such as interconnecting cables, sealing caps and terminators,
thereby increasing overall cost.
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United States solar
microinverter market can be segmented based on type, connectivity, application,
sales channel, company, and region. The United States solar microinverter
market is segmented based on type, connectivity, application, sales channel,
company, and region. Considering the application, the market is fragmented into
residential, commercial, PV power plant. Here, the micro-inverter market for
residential applications dominated the market until 2019 and is expected to
grow at the highest CAGR during the forecast period. This dominance can be
attributed to the rising energy cost, along with growing government support
across the country. These factors are
resulting in increased adoption of energy conservation measures in order to
control the surging energy expenditure in residential applications. Moreover, US
is among the leading markets for residential rooftop PV installations, that
have widely adopted micro-inverters over conventional inverters, which has further
contributed to the growing trend.
Enphase Energy, Altenergy Power
System, Chilicon Power, SunPower, Siemens, Envertech, ReneSola, Darfon
Electronics, AEconversion, ABB, are among others are the leading players operating in United
States solar microinverter market. The players are adopting several growth
strategies to enhance the market scenario of solar microinverters. Other
competitive strategies include new technological developments; mergers &
acquisitions; agreements, partnerships, and collaborations; and expansions to
diverse their product portfolio in order to strengthen their market position.
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“United States
is anticipated to dominate the solar microinverter market until 2025 on account
of large-scale acceptance of micro-inverter technology, especially for
residential applications. Unlike string inverters, these micro-inverters are
not confined to panel placement in one or two different orientations, which is
further boosting the demand for solar microinverters, as it yields more solar
electricity. This in turn, is expected to bolster the solar microinverter market
growth during the forecast period. In addition to this, growing government
participation in promoting renewable energy sources is anticipated to boost the
growth of solar microinverter market in the country in the years to come.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“United States Solar Microinverter Market By
Type (Single Phase and Three Phase), By Connectivity (Integrated, Standalone),
By Application (Residential, Commercial, PV Power Plant), By Sales Channel
(Direct and Indirect), By Region, Competition, Forecast & Opportunities,
2025” has evaluated the future growth
potential of United States solar microinverter market and provides statistics
& information on market size, structure and future market growth. The
report intends 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 in United States solar microinverter market.
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