About the Solar Microinverter Market
Solar microinverters are small devices installed on solar panels that convert the DC output of a photovoltaic (PV) panel into AC. These inverters use maximum power point tracking (MPPT) to get maximum power from the PV array. The function of a microinverter is similar to a central or string inverter. In a string inverter, the PV modules are connected in strings and then wired to a central inverter. A microinverter, however, does not generate power unless connected to the grid. It converts AC to DC at each PV module, allowing the output of PV module to be unaffected by other modules. Therefore, partial shading, debris, and snow lines on any one module do not disproportionately affect the output. Solar microinverters enable maximum power, design flexibility, and enhanced safety, addressing the shortcomings of traditional inverters.
Technavio’s analysts forecast the Global Solar Microinverter Market to grow at a CAGR of 25.7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Solar Microinverter Market for 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solar Microinverter Market 2016-2020"
Technavio recognizes the following companies as the key players in the Global Solar Microinverter Market: ABB, Enphase Energy, SMA, SolarEdge, SunPower, APS, and Cybo Energy. "
Other Prominent Vendors in the market are: APS, Chilicon Power, iEnergy, Involar, LeadSolar, ReneSola, and Sparq Systems."
Commenting on the report, an analyst from Technavio’s team said: “An emerging trend in the microinverter market is the rise in environmental concerns and shift to renewable energy. Fossil fuels are the most extensively used power source worldwide. However, combustion of fossil fuels releases large quantities of GHGs, causing global warming and extreme weather conditions. As a result, countries such as India, Germany, China, and the US are investing in clean technology. This is an area where PV technology has an edge because it produces clean and renewable solar electricity. For instance, electricity production accounts for over one-third of the US global warming emissions, out of which nearly 25% is generated by coal-fired plants. The global warming emissions associated with the entire life cycle of renewable energy (that includes manufacturing, installation, operation, maintenance, dismantling, and decommissioning) is minimal.”"
According to the report, a key driver of market growth is the easy installation and customization of microinverters. Solar microinverters are easy to install and have simpler operations compared to string inverters and central inverters. These solar microinverters work independently as they follow MTTP. This reduces complications and the need for technical expertise. Therefore, the cost of labor for system design is low. This in turn, reduces the overhead cost. Apart from this, solar microinverters can be customized depending on the site and requirements, giving better flexibility compared to conventional inverters. "
Further, the report states that one challenge that could hamper market growth is the fact that there is less product differentiation between offerings by vendors."
ABB, Enphase Energy, SMA, SolarEdge, SunPower, APS, Cybo Energy, APS, Chilicon Power, iEnergy, Involar, LeadSolar, ReneSola, Sparq Systems.
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