Solar Micro Inverters Market Revenue, Opportunity, Segment and Key Trends 2014-2020

Future Market Insights has announced the addition of the “Solar Micro Inverters Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.

Micro inverter is an electronic device used in photovoltaic, the process of converting solar energy into electricity. It converts direct current, generated by a single solar module to alternating current used in the electrical grid.In solar systems, micro inverters are placed at the output of each individual solar panel, to eliminate partial shading conditions and boost system reliability,modularity andefficiency. Micro inverters are operated independently and are simple in design, hence reduce the installation and inventory management cost.

On the basis of consumers, the solar micro inverter market is classified into urban segment and rural segment. On the basis of types, these are further segmented into two sub-segments which are standalone solar inverter market and grid tied solar micro inverter market. Due to increased awareness about alternate energy usage and population density, urban segment of solar micro inverter market dominates with significant market share.Solar micro inverter market can also be bifurcated on the basis of their application that is residential and commercial. Due to high cost of the system, solar micro inverter market has low share in residential application while commercial solar micro inverter market applicationdominates the market

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Solar micro inverter market in Asia Pacific is expected to grow significantlybut slower than the growth of photovoltaic market, due to lack of awareness about the technology. Decentgrowth is expected to come from both rural as well as urban areas in solar micro inverter market.Considerable demand foradequate power supply, rise in fossil fuel prices and government policies are the major drivers forthe solar micro inverter market. Rural electrification projects such as solar photovoltaic program in the Philippines, off-grid projectsin Malaysia, and the thousand islands project in Indonesia are leading to growth of the solar microinverter market. Renewable energy funds such as ARENA Australia, act as supplementarythrust for the market. The developing economies of Asia Pacific are have abundant supply ofrenewable energy resources, but lack of accessibility of industries due to poor infrastructure quality to these areas act as restraint for the growth of this solar micro inverter market. Service provided in the rural areas is not satisfactory, thus creating low interest among consumers to use this technology.

India is expected to emerge as one of the prominent shareholder of solar micro inverter market in Asia Pacific. As of 2013, agriculture sector contributed18% in India’s overall GDP. Utilization of renewable energy sources in the agriculture sector can be a potential optionfor the development of rural farming community. For example, the Indian Government aims to replacesome of existing diesel fuelled groundwater pumps, used for irrigation by farmers, with solar powered substitutes.India Union Budget 2014-15 showed a clear focus on solar for electricity generation, whichis a driver for taking use of renewable energy forward in the nearing future.

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Power plants such as, Perusahaan Listrik Negara (PLN) in Indonesia,power corporations in the Philippines and Sarawak Energy in Malaysia are expected to aim to electrify rural areas. In Indonesia, Philippines and Malaysia, utility companies are giving priority to rural electrification.

In Japan there will be some challenges for micro inverters supplier, including fetching Japan Electrical Safety & Environment Technology Laboratories (JET) certification.
Key participants in the Asia Pacific base solar micro inverter market include Enphase energy, Solar Bridge Technologies, Solaredge, Green Ray Solar and Enecsys.
Solar micro inverter market is expected to grow significantly in Asia Pacific. Government policies and regulations will play a major role as deciding factor for the growth rate of the solar micro inverter market.

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This release was published on openPR.