WiseGuyRerports.com Added “Global Solar Micro Inverters Market Research Report 2019” New Document to its Studies Database
Solar micro inverters are plug-and-play devices used in photovoltaic panels for converting direct current into alternating current. The volume accumulated by these micro inverters can be fed into an electrical grid. These inverters can segregate the electric panels from each other. The breakdown of even one microinverter cannot disrupt the entire array of inverters on the grid. The global solar micro inverters market report contains a comprehensive analysis of drivers, trends, and opportunities which can be used in making sound decisions.
Establishment of wind and solar power plants is touted to be the primary driver of the market. This is attributed to supportive government policies to make the transition from fossil fuel sources. The utilization of maximum power point tracking (MPPT) for the maximum extraction of power under all circumstances can ensure the sales of solar micro inverters. Moreover, advantages of simple stock management, simple system design, lower amperage wires, and additional safety measures can work favorably for the market growth. But high investments required for installation can impede the market growth.
The global solar micro inverters market is segmented by type, application, and region. By type, it is segmented into grid-off solar micro inverter and grid-connected solar micro inverter. The grid-off solar micro inverter segment can gain traction in the coming years due to energy storage by buildings without relying on local utility sectors for their power needs.
Major market players are investing in regions with ample sunlight and supportive renewable energy policies. Recently, Enphase Energy has decided to set up a facility in India for development of software, hardware, and other strategic operations. It proposes to acquire projects in regions with acute power shortage and provide feasible energy generation suggestions.
ABB
SMA Solar Technology
SolarEdge Technologies
Chilicon Power
Enphase Energy
Renesola
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By application, it is segmented into residential and non-residential. The residential segment is touted to gain the lead in the market. This can be attributed to preference of photovoltaic systems by residents due to advantages of safety, simple installation, and performance. Awareness among urban consumers can be a plus for the segment. In addition, partial shading on roofs of consumers can work in advantage of the installed solar micro inverters. On the other hand, the non-residential segment is anticipated to capture a considerable market share due to the industries requiring power to function in light of industrial internet of things and automation.
Regions covered in the solar micro inverters market include China, Japan, Europe, and North America. The North America region is primed to dominate the global market. This is attributed to the growing demand for renewable sources of power for expanding the utilities sector. Furthermore, the immense demand for a constant source of power due to purchase of consumer electronics by denizens of the region. Efforts by manufacturers of solar panels are manufacturing micro inverters which can function via alternating current and reduce production costs in the process. Europe, on the other hand, can command a respectable market share due to renewable energy targets assigned to the region according to the Paris Agreement. Regulations pertaining to the safety of micro inverters can influence the regional demand in the coming years.
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