US solar microinverters and power optimizers to increase 2.6 times

In 2015, the grid-connected solar microinverter and power optimizer industry share was valued at $120 million and grew at a CAGR of 15%. Due to the high preference for sustainable green energy in the residential and commercial markets, the demand for photovoltaic systems for reliable and improved power supply in standalone products and grid-connected systems has increased, and the grid-connected and standalone system solar microinverter and power optimizer industry share reached $550 million in 2019.

Increased installation of photovoltaic systems

Solar microinverters and power optimizers are widely used in utility, residential, and commercial fields. Three-phase solar microinverters and power optimizers help improve system downtime. In addition, they have the characteristics of improved conversion efficiency and high circuit density compared with similar products. In the next few years, the high demand for uninterruptible power supply will drive the development of the solar microinverter and power optimization market. The government's measures such as tax rebates, investment tax credits, net metering, and suitable for increasing the number of photovoltaic systems installed in commercial buildings will also drive the development of the solar microinverter and power optimization market in the United States.

Government initiatives to encourage large-scale deployment of solar power systems in commercial and residential buildings will drive this development, and the commercial and industrial solar microinverter and power optimization market revenue is expected to exceed USD 300 million by 2024.

In 2015, the Chinese solar microinverter and power optimizer market size reached US$50 million, and the UK solar microinverter and power optimizer industry contributed nearly 10% of the European market revenue. In South America, in 2015, the Chilean solar microinverter and power optimizer industry accounted for more than 20% of the Latin American solar microinverter and power optimizer market share.

Residential and commercial rooftops are expected to witness significant growth during 2020-2024 owing to policies promoting the use of green energy in various countries. The government’s high focus on utilizing renewable energy to meet the growing demand for electricity supply will further drive the industry growth.

Major industry players in the U.S. microinverter and power optimizer market include Tigo, SolarEdge, Enphase, Petra, Altenergy, KACO, etc.

China's micro-inverter and power optimizer manufacturers include Hangzhou Homax and APpower. As domestic users are sensitive to the prices of micro-inverters, these two companies have been committed to the markets in Australia, America and Europe, and have achieved remarkable results.