The global solar microinverter and power optimizer market is studied in a new report from Transparency Market Research (TMR). The report is titled, ‘Solar Microinverter and Power Optimizer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.’ It presents a detailed overview of the market’s historical development trajectory and its current figures. An in-depth analysis of these statistics is used to derive insightful information about the market’s future growth. The study discusses current trends and future opportunities in the market. According to the report, power optimizers and microinverters are currently one of the lucrative segments in the global solar power generation market.
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Having spotted the emergent opportunities in this space, key players in the market are looking to expand their product portfolio. A case in point would be Kaco. The company focuses on releasing new microinverters and has recently launched newer models in order to diversify and expand its product range. Players are also entering into partnerships, especially with module suppliers, thus adding to the number of active suppliers in the trade. Thus, the degree of competition is likely to be high in the industry as the prices of power optimizers reduce in the coming future. Existing players in the market are striving to discover new sales channels and develop next-generation solar microinverter models. Many of the key players in the microinverters and power optimizer industry are implementing a feature that enables rapid shutdown in their latest product lines.
The continuous research and development efforts by key players in order to refine the technology is one of the key factors driving the global solar microinverter and power optimizer market. With rising awareness about the safety level of solar power systems, changes are expected in regulations and players in the market will benefit from this changing regulatory environment. Increased energy yields as a result of the use of solar microinverters and power optimizers will enable higher return on investment and this will fuel the growth of the market in the coming years. A drop in the prices of solar microinverters and power optimizers is encouraging their adoption, thus, boosting the market.
Since microinverters can harvest up to 25% more electricity than conventional inverter devices, they are increasingly being used worldwide, especially in the U.S, Australia, and the U.K. While Germany and France are expected to become mature markets for solar microinverter and power optimizers, the demand for these is expected to rise in the emerging nations of China and Japan. It is expected that the residential systems will become a significant market for microinverters. “Home batteries running on solar power have promising potential in the future,” says a TMR analyst.
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