Global microinverter market will be four times bigger until 2017
The microinverter sales will quadruple in the upcoming four years because of the external market requirement increase, as the latest report by market research firm HIS, announced.
Microinverters are being bought in a bigger number besides the United States borders. The reason? The new markets are in a hurry to take advantage of the gadget’s updated efficiencies and features which are increasingly better than in the classic inverters, as the report says.
Global photovoltaic microinverter market are said to merger till 2.1 GW in 2017, whereas in 2013 there were around 500 MW. This means a rate of 306% as IHS presents in its latest report, “The World Market for PV Microinverters and Power Optimizers – 2013 Edition.”
“Microinverters convert direct current (DC) electricity from a single solar module into alternating current (AC). Although they are more costly than conventional inverters, microinverters can increase the energy harvest of a system compared to conventional string or central inverter devices, which convert power from multiple solar panels,” IHS reports.
Until this moment , microinverter request has widely been limited to the U.S. residential market. Still, the strength is moving on to commercial solar systems and other regions.
“Microinverters have reached very high adoption rates in the United States, particularly in the residential market, where penetration will reach more than 40% in 2013,” says Cormac Gilligan, PV market analyst at IHS. “However, in order to grow or maintain market share, microinverter suppliers now are striving to expand to new regions that at present don’t use the technology. Meanwhile, the advantages of microinverters — including their higher energy yields, enhanced safety and module-level monitoring capabilities — are making them more attractive in commercial systems, especially in small-scale projects”, IHS adds.
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