In the coming years, the solar micro inverters market will exhibit the fastest growth in Asia-Pacific (APAC), as per the forecast of P&S Intelligence, a market research company based in India. This will be a result of the surging installation of PV panels in regional countries such as China, the growing requirement for power supply and the fall in the prices of micro inverters.

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Solar Micro Inverters Market Size, Share, Growth
and Forecast to 2026

2. Governments across the world are shifting toward non-conventional sources of
energy from conventional sources due to the growing environmental concerns.
Owing to the increasing focus on alternative energy, countries across the globe
are opting for solar photovoltaic (PV) panel installation. The large-scale adoption
of such systems is also stimulated by the declining cost of micro inverters. Due
to the importance, appreciable performance, and affordability of advanced solar
micro inverters, they are being rapidly integrated in residential PV setups.
Additionally, the burgeoning prices of fossil fuels are driving the demand for such
devices, especially in emerging economies. On account of these factors, the
global solar micro inverters market is projected to accelerate at a CAGR of
15.3% during 2016–2026. At this rate, the revenue of the market will rise from
$431.6 million in 2015 to $1,968.7 million in 2026. These systems convert the
direct current (DC) generated by PV modules to alternating current (AC), on
which most home appliances work. Moreover, these systems enable users to
utilize the grid more efficiently, by decentralizing energy reserves that can be
utilized whenever required.
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In recent years, the adoption of standalone micro inverter systems has been
wider in comparison to integrated systems due to the lower cost of the former.
However, in the coming years, the demand for integrated systems is projected
to surge owing to the rising focus of system providers on integrated module
systems, declining cost of such micro inverters, rising frequency of strategic
partnerships, and increasing product launches. Moreover, the high-performance
integrated module systems or AC modules are designed to minimize the
installation time and meet the high electricity demand.
Geographically, the North American region generated the highest demand for
solar micro inverters during 2012–2015. This was owing to the installation of
numerous solar PV systems in residential areas, driven by government
initiatives. In this region, the U.S. is expected to adopt more PV systems till
2026 and thus emerge as the larger user of solar micro inverters. Moreover, the
Middle East and Africa (MEA) and Latin America (LATAM) are adopting solar PV
systems in large numbers due to the government support, soaring demand for
electricity, and a significant reduction in the price of solar micro inverters.
However, according to P&S Intelligence, the Asia-Pacific (APAC) region will
showcase the most rapid installation of PV systems in the coming years. This can
be ascribed to the surge in PV installations in China, enhanced device features,
high demand for power, and improving efficiency and low cost of micro inverters.
As per the International Renewable Energy Agency (IRENA), China, Japan, and
India are the largest countries in the world in terms of the total amount of solar
energy generated and total solar PV installed capacity, thus reflecting a huge
solar micro inverter installation base.

3. Due to the government support for and shift toward renewable sources of
energy, several companies have started developing improved products and
services to support solar energy systems. In the solar micro inverters market,
players such as Enphase Energy Inc., ABB Ltd., SunPower Corporation, Darfon
Electronics Corp., SolarEdge Technologies Inc., Altenergy Power System Inc.,
and Northern Electric and Power Co. Ltd. are engaging in geographical
expansions and product launches to amplify their presence and promote the
adoption of solar energy.
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analysis/solar-micro-inverters-market
Thus, the increasing support from the government and widescale installation of
PV systems are driving the demand for solar micro inverters. Moreover, the
largescale adoption of these inverters had led to a decline in their cost, which is
augmenting the shift to solar energy sources, thereby helping conserve the
environment.
Market Size Breakdown by Segment
By System Type
• Stand-Alone
• Integrated
By End-Use
• Residential
• Commercial and Utilities
Geographical Analysis
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Russia
o France
o U.K.
• Asia-Pacific (APAC)
o China
o Japan
o India
• South America
o Brazil
o Chile
• Middle East & Africa (MEA)
o UAE

4. o South Africa
o Saudi Arabia
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