Solar Inverter Market expected to grow at a CAGR of 8.6% from 2016 to 2023

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Solar inverters are an important part of solar panel installation. The main application of solar inverter is to convert DC power produced by the solar panel into usable AC power. Solar inverters enable monitoring of the panel performance, which helps the owner & installer track the overall efficiency of the solar plant. Solar inverter provides diagnostic information to help the OEM recognize and resolve system issues.

Currently, the solar inverter market is in the growth stage. This is due to the increase in demand for power, and in cross-border power transmission, global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to restrict carbon emission will boost the global SOLAR INVERTER market.

 

Market Research Analysis
Micro Solar Inverter is expected to grow at the fastest rate Solar Inverter are segment into micro, string and central solar inverter. Micro solar inverter are expected to grow at the highest growth rate in forecast period, owing to rapid development in the utility sector which have installed solar power plants in them. Also micro solar inverter can monitor performance each solar panel, has improved installation & fire safety and has an operational efficiency of 90-95%.

Key Players
• SMA Solar Technology AG (Germany),
• KACO New Energy Inc. (Germany),
• Mitsubishi Electric Corporation (Japan),
• Schneider Electric SE (France),
• Siemens AG (Germany),
• ABB Ltd. (Switzerland)
• Sungrow Power Supply Co., Ltd (China),
• Huawei Technologies Co. Ltd. (China),
• Hitachi Hi-Rel Power Electronics Pvt. Ltd. (India)
• General Electric Company (U.S).

Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Solar Inverter Market Research Report- Forecast till 2023”

Solar inverters are an important part of solar panel installation. The main application of solar inverter is to convert DC power produced by the solar panel into usable AC power. Solar inverters enable monitoring of the panel performance, which helps the owner & installer track the overall efficiency of the solar plant. Solar inverter provides diagnostic information to help the OEM recognize and resolve system issues.

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