Solar Micro Inverter Market Share Growing Rapidly with Development, Recent Trends, Revenue and Forecast to 2019 – 2027

                                                                            
A solar microinverter is an electronic device that changes the waveform of current in photovoltaic (PV) cells.

            Solar Micro Inverter Market


A solar microinverter is an electronic device that changes the waveform of current in photovoltaic (PV) cells. The inverter is typically used in a parallel circuit to convert direct current (DC) to alternating current (AC) (AC). The PV cell system is made up of several single solar panels, each with its own microinverter. The device can separate each panel's power output and convert it to grid voltage. They have several advantages over conventional string converters, including the ability to maintain a consistent flow of power despite panel shading, immense design flexibility, the ability to maximise power from solar panels via Maximum Power Point Tracking (MPPT) technology, and a lower risk of fire.

The number of solar photovoltaic installations has grown exponentially over the years all over the world. According to Coherent Market Insights, total solar PV installed capacity increased globally from 6.6 GW in 2006 to 227.1 GW in 2015. Solar PV capacity is expected to reach 4,600 GW by 2050, accounting for 16% of global electricity production, according to the International Energy Agency (IEA) roadmap. Furthermore, the cost of solar installations has dropped by more than 70% in the last decade, opening up new opportunities for solar micro inverter market participants. According to the IEA, the cost of electricity from PV installations in different parts of the world will converge as markets develop, with an average cost reduction of 25% by 2020 and 45 percent by 2030, pushing the number of global installations even higher. As a result, rising solar installations are expected to drive growth in the global solar micro inverter market over the forecast period.

The key players operating in the global solar micro inverter market are SunPower Corporation, Enphase Energy Inc., iEnergy Co. Ltd., Altenergy Power System Inc., Chilicon Power, LLC, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Northern Electric and Power Co. Ltd, ABB Ltd., LG Electronics, and Darfon Electronics Corporation.

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