Solar micro-inverters are gaining traction in both developed and developing regions, as energy efficiency takes centrestage in future adoption of solar energy.
In spite of being more cost-intensive than conventional string or central inverter devices, solar micro-inverters are becoming the sought-after devices in solar PVs, owing to their high energy output.
The US and UK are at the forefront of adoption of solar micro-inverters; other key markets for solar micro-inverters are Germany and France.
China and India: Lucrative markets for solar micro-inverters
In addition to the matured markets of Europe and North America, emerging economies of Asia Pacific are also ramping up demand for solar micro-inverters. China and India, two of the fastest growing economies in the world, are focusing on renewable sources of energy to meet the demands of their billion-plus population. Solar- and wind- energy have received extensive government support in terms of funding and grants in the recent past.
In India, the ‘Ministry of New and Renewable Energy’ has embarked on an ambitious plan through its “Development of Solar Cities” programme. China, on the other hand, is one of the leading installer of solar photovoltaics, with total installed capacity of 35.78GW (as of June 2015).
In addition to large-scale adoption, governments in these two countries are also offering sops to residential consumers for installing solar PV systems. As adoption of solar energy systems gains traction in Asia Pacific, demand for solar micro-inverters is also witnessing a spike.
Philippines, Malaysia, and Indonesia are the other key countries in Asia Pacific that are expected to ramp up demand for solar micro-inverters in the future. As is the case in China and India, government focus on developing renewable sources of energy and increasing penetration of solar power companies is expected to drive the solar micro-inverters market in the region.
Some of the leading companies in the Asia Pacific solar micro-inverters market include Enphase Energy, SolarBridge Technologies, SolarEdge, and GreenRay Solar.
The information presented in this press release is based on the report, “Solar Micro Inverters Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014 - 2020. You can request a free sample of the report at http://www.futuremarketinsights.com/reports/sample/rep-ap-278