11 Aug 2016 11:08:29
Global Solar Microinverter and Power Optimizers Market Driven by Increased Efficiency of Power Generation
Solar microinverters and power optimizers are an increasingly important segment of the global solar energy market. Similar to solar PV, microinverters and power optimizers allow users to boost the performance of solar power generation units by making them more efficient. Though the usage of inverters is common in solar power generation, string inverters have been the norm so far. The rising use of module-level power electronics in solar power generation units is expected to remain a marked feature of the global solar power market in the coming years.
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Efficiency Boost Provided by Solar Microinverters and Power Optimizers Driving Global Market
Among the many factors propelling the global solar microinverters and power optimizers market, the increased efficiency of solar power generation with their use is the major one. Solar microinverters and power optimizers increase the power output of a solar power generation unit by as much 25%. The difference between the performances is more conspicuous when the unit is placed in a partially shadowed area, where microinverters and power optimizers are of particular use. Due to the lack of consistent sunlight in urban settings, solar microinverters and power optimizers are becoming increasingly popular in urban installations.
The dropping prices of energy storage systems to complement solar power generation systems are also beneficial for the global solar microinverters and power optimizers market. Since solar energy generation systems can’t work without sunshine, complementary energy storage systems are needed to make solar power feasible in residential and commercial areas. This has been helpful for the global solar microinverter and power optimizers market; the demand for efficient power generation and storage systems has thus grown in recent years. This method of utilization of solar power is set to become the defining trend in the global solar power market due to its high efficiency, which will indirectly drive the global solar microinverters and power optimizers market.
North America Leads Global Market, Auto Shut Down Feature to Become Ubiquitous
Due to the early recognition of the benefits of solar power and technological advances therein, North America was the leading regional player in the global solar microinverters and power optimizers market in 2015. The high demand for solar PV units is responsible for this. However, in the coming years, the adoption of microinverters and power optimizers is expected to grow steadily in Asian markets, particularly Japan.
New solar microinverters and power optimizers are also likely to contain a remote or automatic shut-down feature to enhance the safety of the solar power generation unit. The growing regulatory support to this advancement is expected to shape the global solar microinverters and power optimizers market’s trajectory in the coming years.
Entry of New Suppliers as Existing Technology Nears Fruition Threatens Existing Vendors
According to recent reports, Enphase’s microinverter technology is expected to reach price parity with central string inverters in the next two years. However, the steady march of established vendors such as Enphase and SolarEdge is under threat due to the increasing entry of smaller players in the global market.
Increasing their operation in emerging regions has thus emerged as the most promising opportunity for established players. To that end, SolarEdge recently started selling StorEdge, an all-in-one inverter solution, in South Africa. Sustained success in Africa and Asia Pacific is likely to be crucial if these major players are to retain their dominance in the global solar microinverter and power optimizers market.
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