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industry research report on: Global Smart Machines Market | Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Global Solar Microinverter
and Power Optimizer Market: Overview
Microinverters and power
optimizers, collectively called module-level power electronics
(MLPEs), are currently one of the fastest growing market segments in
the global solar power generation market. Although centralized or
string inverters are still by far the most preferred and deployed
choice of technology for rooftop solar panel systems worldwide, the
promise of optimal performance and comparatively more power output
(an estimated 25% more than conventional PV systems), especially when
the PV systems are installed in unevenly shaded or complex regions
(e.g. having two or more orientations), are increasing the popularity
of MLPEs on a global front. Interestingly, over half of all the
residential rooftop solar PV installations in the U.S. had some form
of MPLE in 2014.
Solar microinverters and power
optimizers offer similar benefits to solar PV systems but operate in
different ways. Both systems are mounted inside solar panels and
allow the PV cells to perform optimally when one or more panels in
the PV system are shaded. The primary difference between the two is
that microinverters directly convert the DC current produced by the
solar panels into the AC current that can be utilized by household
appliances, while power optimizers are used to tune the performance
of the solar panel through maximum power point tracking (MPPT), which
essentially is a way to condition the DC current generated by the PV
cells before sending it to a central inverter.
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Global
Solar Microinverter and Power Optimizer Market: Key Trends and
Opportunities
The
substantial reduction in costs of microinverters and power optimizers
and the continuous research and development efforts of manufacturers
aimed at refining the technologies, are some of the key factors that
will help the already flourishing market gain momentum over the
report’s forecast period.
Meanwhile,
the regulatory scenario pertaining to the safety of solar panel
systems is shaping in a way that could change consumer’s perception
of microinverters and power optimizers. The National Electric Code
(NEC), the preeminent electrical installation code in the United
States, has made it mandatory for solar panel arrays to have a rapid
shutdown feature, with a switch to the feature near the solar PV
setup, in its 2014 version.
Some
analysts speculate that the Code will eventually make it mandatory
for solar systems to include functionality of shutting off individual
panels remotely with the help of a central switch. Some of the
largest players in the microinverters and power optimizer industry
have already started to monetize this opportunity by incorporating
rapid shutdown features in their new product lines.
As
the regulatory framework in other regional markets becomes more wary
of the level of safety of solar power systems, similar regulations
are projected to be instituted and proactive vendors will benefit
from this changing regulatory environment.
Apart
from these two opportunities, vendors can also benefit from the
rising affordability of energy storage devices for solar power
systems. Home batteries running on solar power have the potential of
becoming the face of mainstream energy storage systems of the near
future.
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Global Solar Microinverter
and Power Optimizer Market: Region-wise Outlook
Of the key regional markets for
solar microinverters and power optimizers examined in the report,
North America leads the global market, with a dominant share
attributed to residential solar PV installations. However, the market
may soon witness expansion in other regional markets such as Asia
Pacific, as the dropping costs of microinverters and power optimizers
seek to lure cost-sensitive regions with untapped growth
opportunities.
Global Solar Microinverter
and Power Optimizer Market: Competitive Outlook
The market is presently
dominated by companies such as SolarEdge and Enphase. However, the
market’s competitive landscape is rapidly changing, with a rising
number of solar PV manufacturers now developing products readily
incorporated with microinverters and power optimizers. The market has
also begun to see a favorable rise in investments from capital
ventures and the entry of well-funded startups. This is rapidly
changing the competitive landscape of the global solar microinverters
and power optimizers market.
This research report analyzes
this market on the basis of its market segments, major geographies,
and current market trends. Geographies analyzed under this research
report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides
comprehensive analysis of
Market growth drivers
Factors limiting market
growth
Current market trends
Market structure
Market projections for
upcoming years
This report is a complete study
of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
Reasons for Buying this
Report
This report provides
pin-point analysis for changing competitive dynamics
It provides a forward
looking perspective on different factors driving or restraining
market growth
It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
It helps in understanding
the key product segments and their future
It provides pin point
analysis of changing competition dynamics and keeps you ahead of
competitors
It helps in making informed
business decisions by having complete insights of market and by
making in-depth analysis of market segments
It provides distinctive
graphics and exemplified SWOT analysis of major market segments
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