Photovoltaic (PV) Inverter Market Leading Market Opportunities, Growth & Forecast 2024

Photovoltaic (PV) Inverter Market, The ever increasing awareness regarding renewable energy and the subsequent launch of several government initiatives to promote the adoption of solar energy will add a significant dimension of growth to photovoltaic (PV) inverter market.

The progress of electrification programs in developing countries has encouraged the development of solar power projects to supply sustainable energy to rural and urban residential areas. Recently, the Indian government announced that it has completed the electrification of 18,452 villages which earlier had no access to electricity.

This report focuses on the top Manufacturers and players in global market are given bellow:-

KACO Energy Inc., Advanced Energy, REFUsol, Schneider Electric, Ingeteam, ABB, Sungrow Power, Huawei Technologies, Elettronica Santerno, SMA Solar Technology, Mitsubishi, Growatt Energy, Omron, Bonfiglioli Riduttori, Siemens AG., Enphase Energy, Fronius International, Tabuchi Co., Ltd., Jiangsu Zeversolar

Request a Sample of this premium Research Report@ https://www.marketstudyreport.com/request-a-sample/467648/           

Photovoltaic (PV) Inverter Market size is expected to reach USD 19.87 billion by 2024

Adding this number to the several thousand cities and lakhs of villages that are supplied electricity generated from a mix of sources, India represents the massive potential that emerging economies hold in terms of solar power installations.

With the country aiming to increase the renewable energy capacity of its power grid from 57 GW in May 2017 to 175 GW by 2022 year end, nearly 100 GW of that capacity is expected to come from solar PVs. It has been reported that installing solar PV panels on the roofs of houses can reduce electricity bills by up to 95% in India, estimated over a lifespan of 25 years. Government schemes have encouraged the adoption of solar energy across the country, with 400 MW of rooftop solar installations already in place. In July 2018 a state government announced a subsidy of INR 15,000 (approx. USD 220) per kW, increasing the affordability of solar PV systems for residential population. Consequently, the PV inverter market can be expected to witness incredible expansion in the residential sector from augmented energy storage requirements.

Photovoltaic (PV) Inverter Market Size By Product (Standalone, On-Grid)

By Technology (Micro, String, Central)

By Application (Residential, Commercial, Utility)

Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Spain, France, Netherland, China, India, Japan, Australia, South Korea, UAE, South Africa, Brazil, Chile)

Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024

Request a Discount on standard prices of this premium Photovoltaic (PV) Inverter Market Research Report@ https://www.marketstudyreport.com/check-for-discount/467648/

Decreasing solar component cost associated with increasing adoption of clean fuel energy is anticipated to drive the Photovoltaic (PV) inverter market size. Technology advancement and manufacturing improvement have positively impacted the industry outlook.

Favorable government initiatives such as PPA, feed in tariff and net metering to promote development and deployment of renewable energy technologies will encourage PV inverter market size during the forecast period.

Increasing off grid electricity demand will further complement the industry outlook. Growing need for clean and reliable electricity will further compliment the industry growth. As of 2015, over 600 million population in Africa has no or poor electricity access. Lack of consumer awareness towards incentives introduced by the respective government may hinder industry growth over forecast period.

More Report At: https://empowerednews.net/author/gminsights/

About Us:

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email:sales@marketstudyreport.com
Website:https://www.marketstudyreport.com
News:https://www.marketstudyreport.com/category/news-releases/
More Report at:http://reports.algosonline.com/

This release was published on openPR.