Title: Solar Microinverter And Power Optimizer Market to grow at 10% CAGR from 2016 to 2024
1Global Solar Microinverter and Power Optimizer
Market to exceed 1.74bn by 2024 Global Market
Insights Inc.
2Key Insights from Solar Microinverter and Power
Optimizer Market
- Strong adoption trends for clean energy
technologies including PV systems among
residential and commercial end consumers will
stimulate the solar microinverter and power
optimizer market share over the forecast period.
The U.S. federal government has introduced Solar
Investment Tax Credit (ITC) scheme under which
30 tax credit is provided for deployment of PV
systems across residential and commercial
complexes. - Technology innovation pertaining to power
harvesting systems coupled with decreasing
component prices will drive the solar
microinverter and power optimizer market.
Companies including SolarBridge and Tigo are
working towards the development of integrated
module-inverter smart technology to enhance the
efficiency of PV architecture and thereby
positively impacting overall return on
investments of the end consumer.
3Continued...
- On-grid solar microinverter and power optimizer
market is predicted to witness a substantial
growth of over 15. Initiatives including feed in
tariff schemes introduced by regulators will
positively influence the industry landscape.
Commercial applications will exceed USD 300
million by 2024. Growing deployment of rooftop PV
systems in commercial complexes including malls,
and SEZs will positively impact business growth. - U.S. solar microinverter and power optimizer
market share is predicted to grow over 15 from
2016 to 2024. Government programs to augment the
installation PV systems across residential and
commercial building will complement the industry
outlook. - For Europe, Germany solar microinverter and power
optimizer market size for 2015 was valued over
USD 30 million. Directive 2009/28/EC has been
introduced to promote and produce energy from
renewable resources. It sets a target to fulfill
27 of its energy needs through renewable
resources by 2030.
4Europe Solar Microinverter And Power Optimizer
Market size, by application, 2013 2024 (MW)
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Microinverter And Power Optimizer Market_at_
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6Continued...
- China solar microinverter and power optimizer
market size is predicted to exceed 1.4 GW by
2024. In June 2016, China introduced a plan to
implement PV poverty alleviation program for the
next four years to increase the income of poor
households through the installation of solar
systems. The National Energy Agency is also
framing policies pertaining to the deployment of
distributed PV technology across remoted off grid
areas. - South Africa solar microinverter and power
optimizer market share is expected to witness
significant growth of over 10 during the
forecast period. Government favorable initiatives
towards the development of distributed generation
systems will positively influence the industry
landscape. - Key industry players include Sparq Systems,
Enphase Energy, SunPower Corporation, SolarEdge
Technologies, KACO New Energy, Ampt, Delta Energy
Systems, Array Power, Solantro, Alencon Systems,
i-Energy, Chilicon Power, Petra Systems, and Tigo
Energy, Altenergy Power System.
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