Growing popularity for off-grid solar-powered facilities that function independently without excessive reliance on public utilities is a rather emerging trend and is anticipated to scale massive adoption amongst homeowners, more emphatically across matured markets such as Europe and North America, owing to improved consumer mindfulness about sustainable energy consumption on the back of stark power crisis. As opposed to other eco-aligned power sources such as wind and geothermal, off-grid solar system is characterized by improved output and efficient storage facility for energy recycling. Ample development schemes pertaining clean energy production has unshelved lucrative government programs across emerging economies such as West African states.
With tremendous adoption upsurge for off-grid power source, adoption of auxiliary components such as PV micro inverter remains integral for flawless conversion of DC electricity into AC electricity. As opposed to string converters, PV micro inverters have emerged as preferred choice owing to a host of advantages such as optimized solar connection, extended lifespan, and high performance, besides low maintenance costs. With such market dynamics in place, PV micro inverters market is likely to nail tremendous growth ratios in the coming years.
PV micro inverter are soon becoming standard in solar energy production, significantly replacing traditional string and central solar inverters which amount to compromised performance owing to debris collection and shading. Factors as such are likely to drive in surged adoption in the coming years, pushing PV micro inverter market towards lucrative possibilities.
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Residential Deployment to Maneuver High Returns as Opposed to Commercial and Utility Applications
Facilitated by massive end-use applications and infrastructure development projects, commercial and residential adoption of PV micro inverters is likely to experience bullish adoption. Constant, uninterrupted power supply across residences has augmented seismic shift towards PV micro inverters as opposed to their conventional counterparts. Amongst multifarious end-use applications, the residential deployment is estimated to fetch lucrative returns with soaring preferences for high end, uninterrupted power supply amongst home dwellers.
With abundant growth triggers in PV micro inverter space, industry veterans are banking upon both organic and inorganic growth strategies for sustained revenue pools. In a recent development, market leaders Enphase and SunPower have inked an acquisition deal, wherein SunPower’s micro inverter portfolio will henceforth be added to Enphase’s. Enphase therefore will acquire a greater access to SunPower’s elaborate portfolio of high efficiency micro inverters, inclusive of its recent P-series specifically designed for high end commercial and industrial applications. Developments as such are projected to bolster tangible growth in PV micro inverters market in the coming years.
Additionally, from geographical perspective, Europe and North America are likely to reign dominance owing to customer adoption rates and presence of international behemoths. However, APEJ is likely to emerge as the next big lucrative haven for PV micro inverters market on the back of improved production capacities in fast emerging nations such as China.