The U.S. solar microinverter and power optimizer market is witnessed to grow over 15% by 2024. Government has introduced tax credit schemes for the installing PV systems across residential and commercial centers availing 30% tax credit.
China is predicted to exceed 1.4 GW by 2024 owing to growing adoption of sustainable energy. In 2016, China introduced a strategy to lighten poverty by increasing the income of underprivileged households through installation of solar systems. The National Energy Agency (NEA) is framing policies for the deployment of PV technology across off-grid areas.
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Rising adoption of photovoltaic systems in commercial and residential sectors will propel global solar microinverter and power optimizer market. In addition, high demand for upgraded power harvesting systems embedded with features such as panel monitoring for independent power generation will catalyze industry growth. Prominent companies, increasingly investing in R&D for unique product development will also catalyze the market share. According to Global Market Insights, Inc., “Solar Microinverter And Power Optimizer Industry is forecast to hit USD 1.4 billion by 2024, increasing at a CAGR of 10% over 2016-2024.”
Microinverters help convert DC to AC with the help of photovoltaic installations. Their functionality is based on MLPE (module level power electronics) technology, which improves the overall efficiency of the system, while simultaneously eliminating the adverse effects of module mismatch. With the benefits of enhanced design flexibility, convenient installation procedure, and module level monitoring, solar microinverter and power optimizer systems find widespread applications in the residential, utility, and commercial sectors, which will catapult solar microinverter and power optimizer market.
Features such as upgraded safety and high energy yield will boost solar microinverter and power optimizer industry in commercial applications, which contributed to more than 15% of the overall share in 2015. Government initiatives such as tax rebate, investment tax credit, net metering and FIT to increase the number of PV system installations across commercial buildings, will also subsequently propel U.S. solar microinverter and power optimizer market, which is anticipated to grow at a CAGR of 15% over 2016-2024.
Browse key industry insights spread across 174 pages with 263 market data tables & 10 figures & charts from the report, “Solar Microinverter And Power Optimizer Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/solar-microinverter-and-power-optimizer-market
In Solar Microinverter And Power Optimizer Market, Key industry participants include Enphase Energy, SolarEdge Technologies, Delta Energy Systems, Solantro, i-energy, Petra Systems, Altenergy Power System, Tigo Energy, Kaco New Energy, Sparq Systems, SunPower Cormporation, Array Power and Chilicon Power.
Glimpse of Table of Content (ToC)
Chapter 3 Solar Microinverter and Power Optimizer Market Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2013 – 2024
3.3 Industry ecosystem
3.3.1 Vendor matrix
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
22.214.171.124 Increasing rooftop PV installation
126.96.36.199 Cost effective and highly reliable
188.8.131.52 Higher efficiency
3.7.2 Industry pitfalls & challenges
184.108.40.206 High initial cost over other alternatives
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Competitive landscape, 2015
3.10.1 Strategy dashboard
3.11 PESTEL analysis
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/solar-microinverter-and-power-optimizer-market
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