Solar Microinverter And Power Optimizer Market to grow at 10% CAGR from 2016 to 2024

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Global Solar Microinverter and Power Optimizer
Market to exceed 1.74bn by 2024 Global Market
Insights Inc.
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Key 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.

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Continued...

• 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.

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Europe Solar Microinverter And Power Optimizer
Market size, by application, 2013 2024 (MW)

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Continued...

• 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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