Global Solar Microinverter and Power Optimizer Market to exceed $1.74bn by 2024: Global Market Insights Inc. 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. According to Global Market Insights, Inc., “Solar Microinverter And Power Optimizer Industry is forecast to hit USD 1.4 billion by 2024, increasing at a CAGR of 10% over 2016-2024.�
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.
1|Page
Europe Solar Microinverter And Power Optimizer Market size, by application, 2013 – 2024 (MW)
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 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” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/solar-microinverter-and-poweroptimizer-market 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. 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. 2|Page
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.
Report Content of Solar Microinverter And Power Optimizer Market:
Report Content Chapter 1 1.1
1.2
Chapter 2
Methodology & Scope 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
Data Sources 1.2.1.
Primary sources
1.2.2.
Secondary sources
Executive Summary
2.1 Solar microinverter and power optimizer industry 3600 synopsis, 2013 2024
3|Page
2.1.1
Business trends
2.1.2
Connectivity trends
2.1.3
Application trends
2.1.4
Regional trends
Chapter 3 Solar Microinverter and Power Optimizer Industry Insights 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
3.7
3.5.1
U.S.
3.5.2
India
3.5.3
Europe
3.5.4
China
3.5.4
Japan
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 4|Page
3.11 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde Corporate Sales, USA Global Market Insights, Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com Web: https://www.gminsights.com Blog: https://gminsights.wordpress.com Connect with us: Facebook | Google+ | LinkedIn | Twitter
5|Page