Power Optimizer Market growth will be driven by increasing adoption of renewable energy across several commercial & residential sectors. the global power optimizer market is expected to traverse alongside a highly profitable growth path over 2019-2025. As per estimates, the overall power optimizer market size is projected to exceed an annual installation of over 30 million units by 2025. Net metering, FiT’s and government subsidies influenced by the manufacture and integration of advanced optimizer solutions will further enhance penetration of the product. Furthermore, government schemes and rollout plans such as energy efficiency grant to favor roof-top installations in the residential sector will further augment the business outlook.
The residential construction sector has been touted to emerge as an invaluable growth hub for power optimizer market. This can aptly be credited to the escalating number of schemes mandated by regional governments – such as incremental energy efficiency grants to support residential roof-top installations. The product has also gained traction in power optimizer industry on account of the rising influx of new, flexible module designs. Say for example in 2018, GreenBrilliance USA, a solar solution provider launched an AI-based solar power optimizer for residential homes called Neurobotz. As per reports, the system’s predictive analytics algorithm generated an optimal load curve and could effectively control the incoming power flow to significantly reduce the amount of electricity consumed in residential zones.
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Buck convertor market by 2025, is estimated to grow over USD 900 Million. Buck units are DC-DC power convertor that step-down voltage from input to output. The power supply technology is based on switched mode containing one element of energy storage, a capacitor and two semiconductors (diode & transistor, although for synchronous modification, new generation convertors replace diode with transistor), an inductor or a combination of two. Prominent manufacturers with R&D capabilities and technological expertise have been investing continuously to enhance product performance which in turn will boost the power optimizer market growth.
Power optimizers are increasingly emerging as an ideal substitute for module level power monitoring & management, enhancing the benefits of MPPT with higher operational efficiencies of string inverters. Furthermore, the product’s ability to offer constant, uninterrupted output in a partially shaded environment is anticipated to facilitate its adoption sooner than ever. Indeed, shade on any part of a PV solar panel affects a system’s total output performance. However, with the capability of power optimizers to mitigate the shading losses, users are benefitted with stable output power, irrespective of changing sun exposure. This would serve to majorly expedite the demand for the product across countries such as China, Russia and Iceland, impelling the global power optimizer industry trends.
Fueled by environmental awareness & strict government schemes, the global power optimizer market size will depict a robust incline in the years to come, with the adoption of highly-efficient energy-conservation technologies. Driven by the primary agenda of curbing the rate of carbon emissions, commercial & residential sectors across the globe are turning to renewable sources of energy to fuel their daily energy requirements. This has led to a reorientation of industrial focus towards incorporating energy conservation technologies to maximize the energy harvested from a renewable energy source. This is where power optimizers factor in – a module-level power electronic (MLPE) device that continually monitors an energy harvester’s maximum power point tracking (MPPT), it helps to adjust the system’s DC characteristics to optimize energy output.
Standalone units in the present industrial regime have been influenced primarily by the increase in energy demand across regions facing limited access to grid or complete isolation. Growth in micro-grid infrastructure for renewable energy adoption on a large scale has instituted a positive industry scenario. The agile expansion of sustainable electric infrastructure coupled with advanced technologies for distributed power generation will further augment the power optimizer market.
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