According to Latest Report on Solar Hybrid Inverter Market is to Advance with an Impressive CAGR | EAST Group, Instapark, Poweradd, KACO new energy, Pure Volt, Anker

Overview:
The growing demand for polycrystalline solar panels will be one of the major trends that will gain traction in this market during the next few years. Owing to the low-cost and efficiency associated with the product, the coming years will witness an increased preference for polycrystalline technology especially in the residential sector, which will in turn, stimulate the growth of the solar hybrid inverter market.

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This market research analysis identifies supportive government regulations as one of the key growth factors for the global solar hybrid inverter market. To curb the dependence on electricity, the governments are taking initiatives to promote the deployment of solar energy. For instance, the US government has introduced the Solar Investment Tax Credit (ITC) policy that supports the deployment of solar energy in the country. It has been observed that the implementation of ITC has fueled the growth of solar installation by almost 16 times in the country.

Competitive landscape and key vendors:

The solar hybrid inverter market is at the nascent stage and consists of a few vendors. The market is witnessing the emergence of new players, which intensifies the competitive environment among the market players. Technological advancements and robust product innovations will also be major factors intensifying the level of competition among the market players.

Top key Players:

Delta Energy Systems, EAST Group, Instapark, Poweradd, KACO new energy, Pure Volt, Anker, TABUCHI ELECTRIC, GoalZero, SHANGHAI SUNVIS NEW ENERGY, Levin, Voltronic Power Technology, SOLAX POWER, SolarEdge Technologies, Redback Technologies, Nexcon, Growatt New Energy Technology, GoodWe (Jiangsu) Power Supply Technology, and Lavancha Renewable Energy.

The commercial segment accounted for the major shares of the solar hybrid inverter market during 2016. Factors such as stringent government regulations that promote the use of energy management systems (EMS) and inverters with solar PV panels will promote the growth of this market segment.

APAC held the major share of the solar hybrid inverter market during 2016. Factors such as the increase in the environmental concerns, the rising demand for energy, the growing population, and the improving standard of living, will augment the market’s growth prospects in this region.

Solar panels can offer a very low-cost solution to the energy needs but face challenges at times when there is not enough sunlight. This problem is tackled by solar hybrid inverter as they have a battery which is charged by solar energy, and can also take power from mains when solar power is not sufficient. Apart from this, it can also provide excess power after the battery is fully charged to the main grid. Technavio has a wide collection of research reports from the energy industry, which covers power and oil and gas sectors.

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This release was published on openPR.