Single phase products to observe an uptick in string inverter market|Companies covered (21): Schneider Electric, Elettronica Santerno, Growatt New Energy Technology Co. Ltd, Shenzhen KSTAR, REFU Elektronik GmbH, SatCon, SolarEdge, Delta Group, SolarMax, H

Constant improvements in alternative energy generation have marked the arrival of sophisticated products vying to meet the demand of soaring power requirements. Moreover, prevailing environmental matters pertaining to greenhouse gas emissions and concern about aging network infrastructure have signified the importance of alternative power generation such as string inverters. Solar power is the next big thing in alternative power generation.

Advancement of string inverter is in tandem with the development of solar panel systems globally. Invaluable and audacious steps undertaken by governments across regions to popularize use of solar panel systems will boost installation of solar panels, thereby triggering demand for string inverters. Prominently, string inverters have the innate capability to be monitored remotely and can enhance output significantly.

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Growth Drivers:

North America & Europe
• Positive clean energy outlook
• Emission reduction target in North America
Asia Pacific
• Focus on renewable integration
• Growing energy demand across the grid areas
• Investments in rural electrification (2016 to 2017):
Middle East & Africa
• Refurbishment of the existing grid network
• Large-scale renewable integration prospects
• Major Solar Projects 2017
• Latin America
• Integration of an alternate energy infrastructure

The output of a string inverter can charge a battery, push power into a grid and provide power for a business or home. Soaring popularity of string inverters is highly attributed to its durability, robustness, efficiencies, and accessibility. Accordingly, string inverter is immensely popular in both residential and commercial systems. Buoyed by increased competition with micro-inverters, stakeholders in string inverter industry will continue to take a giant stride in power density and efficiency using state-of-the-art components and topology innovation. Nevertheless, string inverters are less expensive vis-à-vis micro-inverters.

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Palpable traction towards single phase- and three phase-string inverters

Single phase string inverters will continue to gain traction in both residential and commercial sectors in the wake of net metering, feed-in tariff and other schemes. Besides, three phase string inverters will also propel string inverter industry outlook in the next half a decade. One of the major drivers of the emergence of three phase string inverter is the innovation and scale of inverter manufacturers. Vibrant solar energy policies, business models and technologies have expanded the penetration of PV systems using string inverters.

Even though string inverters grapple with shading issues, the technology has become popular among stakeholders and is less expensive than microinverters. Meanwhile, some of the panel manufacturers have started integrating their products with power optimizer to curb the impact of shading. It is believed that pairing of string inverter with power optimizer can make installation easier.

Stakeholders will continue to invest in research and development activities to bolster the basic performance and reliability of string inverter. As such, inverter designers are vying to address the challenging demands from regulatory bodies, communities and users. Nevertheless, factors such as ease of maintenance & trouble shooting, and lower costs make string inverter highly sought-after among end-users. In addition, given string inverters are relatively smaller than central inverters, loss of one or two devices alludes a loss of small amount of generation.

According to Bloomberg New Energy Finance, solar will reign supreme in new capacity additions by 2020 and will enthuse investment of around US$ 3.7 trillion during the period 2020-2040. Owing to project developers’ rising awareness of the operation and maintenance and installation upsides, increasing number of solar PV projects are being built globally, including multi-phase string inverters. Besides, vital grid management benefits have been credited to soaring traction of string inverters among stakeholders. In a bid to seamlessly bolster grid stability, countries such as India, China, and the U.S. are embracing string inverters. It is anticipated that stakeholders will vie to invest in North America and Asia Pacific to bolster their product portfolios.

The evolution of the electricity system offers a unique opportunity to stakeholders globally as it warrants a new and enhanced infrastructure. Global efforts to dramatically curb carbon emission, soaring penetration of renewable energy and cost competitiveness will remain instrumental for stakeholders vying to invest in string inverter market.

Companies covered (21):

1. SMA Solar Technology
2. Sungrow Power Supply Co. Ltd.
3. Schneider Electric
4. Elettronica Santerno
5. Growatt New Energy Technology Co. Ltd
6. Shenzhen KSTAR
7. REFU Elektronik GmbH
8. SatCon
9. SolarEdge
10. Delta Group
11. TBEA SunOasis Co. Ltd.
12. Chint Group
13. Omron
14. Samil Power
15. Fronius International GmbH
16. KACO New Energy
17. SolarMax
18. Huawei Technologies Co. Ltd.
19. ABB Limited
20. Ningbo Ginlong Technologies Co. Ltd.
21. GoodWe

More News : https://www.marketwatch.com/press-release/2019-distribution-lines-and-poles-market-size-industry-analysis-share-growth-by-2025-2020-01-07

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