Global Solar Charge Controllers Market 2017-2021
About Solar Charge Controllers
A solar charge controller is an electronic device that regulates the rate of current flow to and from electric batteries to prevent overcharging and damage due to overvoltage. This not only enhances the operational efficiency of the batteries but also increases their lifespan. An inverter is a device that converts direct current (DC) generated by solar panels and wind turbines into alternate current (AC). This is then supplied to a central electric grid. Inverters are broadly classified into three types: Grid-tie, battery backup, and stand-alone. These inverters are integrated with different energy sources and allow connection with multiple parallel units.
Technavio’s analysts forecast the global Solar Charge Controllers market to grow at a CAGR of 16.32% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global solar charge controllers market for 2017-2021. To calculate the market size, the report considers the new installations and exclude replacement/ aftermarket/ services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solar Charge Controllers Market 2017-2021
Technavio recognizes the following companies as the key players in the global solar charge controllers market: Genasun, Luminous India, MICROTEK, Schneider Electric, and Su-Kam Power Systems.
Other Prominent Vendors in the market are: Arise India, BEIJING EPSOLAR TECHNOLOGY, Delta Electronics, Morningstar, Phocos, Samlex America, Shuori New Energy, Steca Elektronik, Studer Innotec, SUNGROW, and Victron Energy.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing demand for MPPT charge controllers. PWM and MPPT charge controllers are extensively used by end-user industries. It has been established through tests that MPPT charge controllers outperform PWM charge controllers in cold and temperate climates. MPPT is 30% more efficient than PWM. PWM charge controllers drain the battery faster than MPPT charge controllers, and if this disadvantageous feature is not rectified in the future, the technology will become outdated.”
According to the report, one of the major drivers for this market is rise in solar energy installations. In recent years, the solar energy industry has gained momentum and grown dramatically. This is attributed to the initiatives undertaken by governments worldwide to encourage the use of renewable resources. Many industrialized nations have integrated a considerable number of solar power installations with the electrical grids to increase the percentage of solar energy in the energy mix. On the other hand, developing economies are using solar energy to reduce their dependence on fossil fuel-based power generation.
Further, the report states that one of the major factors hindering the growth of this market is intermittent nature of solar energy. With the reduction in the cost of solar power generation, an increase in the adoption of PV systems has been observed globally. However, the intermittent nature of solar power is a persisting issue. The power output from a solar PV depends on several factors such as solar irradiation, the efficiency of the panel, and the degree of shade, which varies over the duration of the day and in overcast conditions.
Genasun, Luminous India, MICROTEK, Schneider Electric, Su-Kam Power Systems, Arise India, BEIJING EPSOLAR TECHNOLOGY, Delta Electronics, Morningstar, Phocos, Samlex America, Shuori New Energy, Steca Elektronik, Studer Innotec, SUNGROW, and Victron Energy.