20 May 2016 07:05:59
Solar Micro Inverter Market Growth Forecast at 25.7% CAGR to 2020
According to the 2016 solar micro inverter market report, a key driver of market growth is the easy installation and customization of micro inverters. Solar micro inverters are easy to install and have simpler operations compared to string inverters and central inverters. These solar micro inverters work independently as they follow MTTP. This reduces complications and the need for technical expertise. Therefore, the cost of labor for system design is low. This in turn, reduces the overhead cost. Apart from this, solar micro inverters can be customized depending on the site and requirements, giving better flexibility compared to conventional inverters.
Commenting on the report, an analyst said: "An emerging trend in the micro inverter market is the rise in environmental concerns and shift to renewable energy. Fossil fuels are the most extensively used power source worldwide. However, combustion of fossil fuels releases large quantities of GHGs, causing global warming and extreme weather conditions. As a result, countries such as India, Germany, China, and the US are investing in clean technology. This is an area where PV technology has an edge because it produces clean and renewable solar electricity. For instance, electricity production accounts for over one-third of the US global warming emissions, out of which nearly 25% is generated by coal-fired plants. The global warming emission associated with the entire life cycle of renewable energy (that includes manufacturing, installation, operation, maintenance, dismantling, and decommissioning) is minimal.
The following companies are the key players in the Global Solar Micro inverter Market: ABB, Enphase Energy, SMA, SolarEdge, SunPower, APS, and Cybo Energy.
Other Prominent Vendors in the market are: APS, Chilicon Power, iEnergy, Involar, LeadSolar, ReneSola, and Sparq Systems.
Solar micro inverters are small devices installed on solar panels that convert the DC output of a photovoltaic (PV) panel into AC. These inverters use maximum power point tracking (MPPT) to get maximum power from the PV array.
The function of a micro inverter is similar to a central or string inverter. In a string inverter, the PV modules are connected in strings and then wired to a central inverter. A microinverter, however, does not generate power unless connected to the grid. It converts AC to DC at each PV module, allowing the output of PV module to be unaffected by other modules. Therefore, partial shading, debris, and snow lines on any one module do not disproportionately affect the output.
Further, the report states that one challenge that could hamper market growth is the fact that there is less product differentiation between offerings by vendors.
Read more at http://www.reportsnreports.com/reports/543829-global-solar-microinverter-market-2016-2020.html