Return to: Energy NewsSolar Micro Inverters Market Propelled by Strong Focus on Clean EnergyThe major reasons behind the growth of the solar micro inverters market are the reducing prices of such devices, their higher efficiency compared to conventional equipment, and increasing awareness about the advantages of modular-level power electronics (MLPE). The market generated $431.6 million revenue in 2015, and it is expected to advance at a CAGR of 15.3% during 2016–2026, to reach $1,968.7 million by 2026. Such devices convert the electricity generated by solar panels, to alternating current (AC)from direct current (DC). When the market is segmented on the basis of system type, the two categories are standalone systems and integrated systems. Of the two types, standalone systems were the higher revenue generating category throughout the historical period (2012–2015), and the scenario is predicted to be the same during the forecast period. However, the integrated system category is projected to observe the faster growth in revenue accumulation, due to a decrease in their prices, focus of major market players on such systems, and rise in the number of strategic partnerships. Get a sample copy of this report: https://www.psmarketresearch.com/market-analysis/solar-micro-inverters-market/report-sample The demand for micro inverters is also rising because they are better than string inverters. As the latter convert the current produced by an entire solar module, being attached in a series, the output reduces if some panels are shaded from the sun. In contrast, being attached parallelly, micro inverters work on every individual panel, thus maximizing the electricity output of the entire photovoltaic (PV) panel string. Even if one panel in the string is damaged, the output is not affected much, which raises their demand. During the historical period, North America dominated the solar micro inverters market, due to the setting up of PV installation targets by the government of regional countries, rise in the demand for electricity, and decline in the prices of such equipment. Within the region, the majority of the revenue for system manufacturers has come from the U.S. The government in the country offers financial incentives and feed-in tariff benefits to boost PV installation, which raises the demand for power conversion units as well. Thus, with a further surge in the demand for electricity and strong focus on producing it in environment-friendly ways, the sale of solar micro inverters would g ... News Release: Solar Micro Inverters Market Propelled by Strong Focus on Clean Energy Submitted on: July 03, 2020 11:39:45 AM Submitted by: Manish Baghel On behalf of: https://www.psmarketresearch.com/market-analysis/solar-micro-inverters-market |