Industry Overview
The technology research report “Solar Microinverter And
Power Optimizer Market Size, By Connectivity
(Standalone, On-grid), By Application (Residential, Commercial, Utility),
Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Spain,
France, Netherland, China, India, Japan, Australia, South Korea, UAE, South Africa,
Brazil, Chile, Argentina), Growth Potential, Price Trends, Competitive Market
Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Solar Microinverter and Power Optimizer
Market size
will exceed USD 1.4 billion by 2024.
Rising
adoption of photovoltaic systems in commercial and residential sectors will
propel global solar microinverter and power optimizer market. In addition, high
demand for upgraded power harvesting systems embedded with features such as
panel monitoring for independent power generation will catalyze industry
growth. Prominent companies, increasingly investing in R&D for unique
product development will also catalyze the market share.
Microinverters
help convert DC to AC with the help of photovoltaic installations. Their
functionality is based on MLPE (module level power electronics) technology,
which improves the overall efficiency of the system, while simultaneously
eliminating the adverse effects of module mismatch. With the benefits of
enhanced design flexibility, convenient installation procedure, and module level
monitoring, solar microinverter and power optimizer systems find widespread
applications in the residential, utility, and commercial sectors, which will
catapult solar microinverter and power optimizer market.
Features
such as upgraded safety and high energy yield will boost solar microinverter
and power optimizer industry in commercial applications, which contributed to
more than 15% of the overall share in 2015. Government initiatives such as tax
rebate, investment tax credit, net metering and FIT to increase the number of
PV system installations across commercial buildings, will also subsequently
propel U.S. solar microinverter and power optimizer market, which is
anticipated to grow at a CAGR of 15% over 2016-2024.
Increasing
deployment of solar rooftop systems across malls, buildings, and other
commercial complexes will further augment solar microinverter and power
optimizer industry in commercial applications, projected to cross a target
revenue USD 300 million by 2024.
Three
phase solar microinverters and power optimizers help enhance the system
downtime, in addition to possessing features such as upgraded conversion
efficiency coupled with high circuit density in comparison with their
counterparts. High demand for uninterrupted power supply will fuel solar
microinverter and power optimizer market in the utility sector in the years to
come.
Owing
to the rising adoption of rooftop solar PV systems, solar microinverter and
power optimizer industry in residential applications is slated to witness
healthy gains over 2016-2024, having recorded a revenue of more than USD 440
million in 2015. Government encouragement toward the utilization of solar
rooftop systems in residential applications will subsequently stimulate on-grid
solar microinverter and power optimizer market, which was worth more than USD
120 million in 2015. Favorable initiatives such as tax rebate, low interest
rate loans, feed in tariff, subsidies, and other financial benefits will also
drive on-grid solar microinverter and power optimizer industry growth over
2016-2024.
Compact
size and design flexibility are two major characteristics of standalone
connectivity that help eliminate the requirement for an electrolyte capacitor,
fan, and a large transformer. Driven by these convenient features, standalone
solar microinverter and power optimizer market is slated to grow at a CAGR of
more than 10% over 2016-2024.
The Indian government is developing
subsidy schemes, with a 40% subsidy on the initial capital investment toward
the installation of PV systems in the urban and rural areas. Owing to such
favorable government initiatives, India solar microinverter and power optimizer
market will depict a steep CAGR of more than 20% over 2016-2024.
UK solar microinverter and power
optimizer industry contributed to more than 10% of the regional share in 2015,
and will witness substantial gains in the years to come, driven by high
installation rate of solar rooftop systems. Government regulations pertaining
to the increased adoption of renewable energy sources over fossil fuels will
spur Germany solar microinverter and power optimizer market, which was valued
at a revenue of more than USD 30 million in 2015.
Increased R&D investments and
development of innovative products are key strategies adopted by major
companies. Leading industry participants include Ampt, Enphase Energy, Petra
Systems, SunPower Corporation, Sparq Systems, i-Energy, Delta Energy Systems,
SolarEdge Technologies, Solantro, KACO New Energy, Tigo Energy, Array Power,
Chilicon Power, Alencon Systems, and Altenergy Power Systems. Public awareness
regarding the advantages of renewable energy sources over conventional energy
sources will eventually lead to increased product demand, positively
influencing solar microinverter and power optimizer industry.
Browse
key industry insights spread across 174 pages with 263 market data tables &
10 figures & charts from the report Solar
Microinverter And Power Optimizer Market in detail along with the table of
contents:
Report Content
1.1 Research Methodology
1.1.1 Initial
data exploration
1.1.2
Statistical model and forecast
1.1.3 Industry
insights and validation
1.1.4 Scope and
assumptions
1.2 Data Sources
1.2.1. Primary sources
1.2.2. Secondary
sources
2.1 Solar
microinverter and power optimizer industry 3600 synopsis, 2013 -
2024
2.1.1 Business
trends
2.1.2
Connectivity trends
2.1.3
Application trends
2.1.4 Regional
trends
3.1 Industry
segmentation
3.2 Industry size
& forecast, 2013 – 2024
3.3 Industry ecosystem
3.3.1 Vendor
matrix
3.4 Technology &
innovation landscape
3.5 Regulatory
landscape
3.5.1 U.S.
3.5.2 India
3.5.3 Europe
3.5.4 China
3.5.4 Japan
3.7 Industry impact
forces
3.7.1 Growth
drivers
3.7.1.1 Increasing rooftop PV
installation
3.7.1.2 Cost effective and
highly reliable
3.7.1.3 Higher efficiency
3.7.2 Industry
pitfalls & challenges
3.7.2.1 High initial cost
over other alternatives
3.8 Growth potential
analysis
3.9 Porter’s analysis
3.10 Competitive landscape, 2015
3.10.1 Strategy dashboard
3.11 PESTEL analysis
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