Solar Micro Inverter Market to represent a significant expansion at 12.4% CAGR by 2026

Research Report Insights (RRI) has launched the report titled, “Solar Micro Inverter Market to represent a significant expansion at 12.4% CAGR by 2026”

Increasing demand for clean energy is driving the growth of the solar market. Hence, several companies are developing solar micro inverters. However, the first micro inverter was developed by Enphase Energy. Microinverters also last longer as they are not exposed to heat loads and high power.  Moreover, there is no single point of failure in the solar micro inverter, which means the whole system remains unaffected even if one panel has a fault. Companies have also started building smart micro-inverters which are fully networked, software-defined inverters. These micro-inverters are being developed with advanced grid function. With an ability to provide grid support service through software updates.

According to the report by Research Report Insights (RRI), the global solar micro inverter market is growing due to the increasing awareness about Module Level Power Electronics (MLPE) technology. The North America solar micro inverter market is projected to dominate the market, registering 12.4% CAGR during 2016-2026. Owing to the low cost of micro inverters and increasing installation of PV in China, APEJ region is estimated to register 25.4% CAGR between 2016 and 2026. While Japanese solar micro inverter market is anticipated to reach 21.6% CAGR during 2016-2026. Moreover, the sales of a micro inverter for integration purpose is growing, hence the integrated modules are witnessing the rise in demand.

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Innovative technologies to transform solar micro inverters

Micro inverters have adopted a system to work in changing environmental conditions, hence they can optimize the power conversion process. By implementing various technologies, companies are able to provide better system improving reliability and efficiency. For instance, Enphase Energy, a micro inverter specialist recently introduced new IQ micro inverter. It is easier to install as it is 30% lighter. To reduce the size, the company has used double-insulated non-corroding polymeric enclosure. The integration possibilities of IQ micro inverter has been increased as it includes smart solar modules, i.e. Enphase Energized AC Modules.

A lot of innovation is taking place in the micro inverter industry. For example, Tesla has launched a solar roof. This solar roof consists of the powerwall battery, turning sunlight into electricity. The solar roof is made of tempered glass tiles and these tiles are stronger than non-solar tiles and regular plate glass.

Market Segmentation by System Type

On the basis of system type, the market is categorised into Stand Alone Micro Inverter Systems and Micro Inverters sold for integration purposes, named as integrated systems. The Integrated modules are becoming the face of PV modules and rising demand of the same is reinforcing the sales of micro inverter for integration purposes

LG introduces two new neon models to enhance power generation

LG has launched two new neon modules. LG Neon R helps energy generation by using 100% of the cell area, improving temperature performance.It produces 26% more power and has 365W per panel rating. The LG Neon R uses N-type cells coated in phosphorus. This ensures maximum power output and reduces degradation. LG Neon 2 Ace comes with improved temperature performance and easy installation process, where a user just needs to connect a cable. Instead of busbars, LG Neon 2 Ace uses cello technology.

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Huawei Technology has also developed smart inverter solution known as FusionHome Smart Energy Solution. It uses advanced multi-level topology including more silicon semiconductors. It includes one-click start-up configuration, conducting system health check-up. The new system provides fully connected smart home service, including smart PV cloud-based home energy management system.The system analysis all the PV models and generates diagnosis report automatically.

Key Players

Some of the major players in the global solar micro inverter market that are covered in this report are: Enphase Energy Inc., Altenergy Power Systems Inc., SMA Solar Technology AG, BB Ltd., SunPower Corporations, Darfon Electronics Corporation, Northern Electric and Power Co. Ltd., Sparq Systems, Chilicon Power,LLC, iEnergy Co. Ltd.

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