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Solar Microinverter And Power Optimizer Market To Exhibit Remarkable Gains Over 2017-2024 | Delta Energy Systems, SolarEdge Technologies, Solantro, KACO New Energy, Tigo Energy
Solar Microinverter And Power Optimizer Market
China solar microinverter and power optimizer industry, having registered a revenue of more than USD 50 million in 2015, is expected to cross a target size 1.4 GW by 2024. This growth can primarily be attributed to the increased government programs for uninterrupted electricity supply across the region.
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The Indian government is developing subsidy schemes, with a 40% subsidy on the initial capital investment toward the installation of PV systems in the urban and rural areas. Owing to such favorable government initiatives, India solar microinverter and power optimizer market will depict a steep CAGR of more than 20% over 2016-2024.
Owing to the rising adoption of rooftop solar PV systems, solar microinverter and power optimizer industry in residential applications is slated to witness healthy gains over 2016-2024, having recorded a revenue of more than USD 440 million in 2015. Government encouragement toward the utilization of solar rooftop systems in residential applications will subsequently stimulate on-grid solar microinverter and power optimizer market, which was worth more than USD 120 million in 2015. Favorable initiatives such as tax rebate, low interest rate loans, feed in tariff, subsidies, and other financial benefits will also drive on-grid solar microinverter and power optimizer industry growth over 2016-2024.
Increased R&D investments and development of innovative products are key strategies adopted by major companies. Leading industry participants include Ampt, Enphase Energy, Petra Systems, SunPower Corporation, Sparq Systems, i-Energy, Delta Energy Systems, SolarEdge Technologies, Solantro, KACO New Energy, Tigo Energy, Array Power, Chilicon Power, Alencon Systems, and Altenergy Power Systems. Public awareness regarding the advantages of renewable energy sources over conventional energy sources will eventually lead to increased product demand, positively influencing solar microinverter and power optimizer industry.
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Glimpse of Table of Content (ToC): -
Chapter 4 Solar Microinverter and Power Optimizer Market, By Connectivity
4.1 Global market share by connectivity, 2015 & 2024
4.2 Standalone
4.2.1 Standalone market, 2013 - 2024
4.2.2 Standalone market volume, by region, 2013 - 2024
4.2.3 Standalone solar microinverter and power optimizer market revenue, by region, 2013 - 2024
4.3 On-grid
4.3.1 On-grid market, 2013 - 2024
4.3.2 On-grid market volume, by region, 2013 - 2024
4.3.3 On-grid solar microinverter and power optimizer market revenue, by region, 2013 - 2024
Chapter 5 Solar Microinverter and Power Optimizer Market, By Application
5.1 Global solar microinverter and power optimizer share by application, 2015 & 2024
5.2 Residential
5.2.1 Market demand in residential, 2013 - 2024
5.2.2 Market volume demand in residential, by region, 2013 - 2024
5.2.3 Market revenue demand in residential, by region, 2013 - 2024
5.3 Commercial
5.3.1 Market demand in commercial, 2013 - 2024
5.3.2 Market volume demand in commercial, by region, 2013 – 2024
5.3.3 Market revenue demand in commercial, by region, 2013 – 2024
5.4 Utility
5.4.1 Market demand in utility, 2013 - 2024
5.4.2 Market volume demand in utility, by region, 2013 – 2024
5.4.3 Market revenue demand in utility, by region, 2013 – 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/solar-microinverter-and-power-optimizer-market
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