Opportunities in the Residential Sector Enhance Future Growth Potential
Solar PV is the most advantageous of renewable power sources. In most parts of the world, light is abundant throughout the year, and solar PV is a low-investment, minimal-maintenance option. Unlike wind farms that require extensive land, resource optimization is possible with solar PV. In addition, developers can execute projects in as quickly as 3 months, a turnaround time which they can leverage during energy crises, such as the one being experienced in Europe.
Advancement of storage technologies has further strengthened the case for PV with variability in production having been a major source of concern in the past. Inverters are critical components of solar PV systems and determine the efficiency and longevity of PV assets. Choice of inverters is a major decision in PV projects, and inverters are allocated about 6% to 11% of the installed costs.
This study covers the advantages and disadvantages of several inverter types and the parameters that developers consider when choosing inverters. This study also analyzes drivers of the global demand for solar PV inverters, trends shaping the market, and challenges that stakeholders face. It identifies global PV hotspots for the consideration of new market entrants or existing participants, growth opportunities and revenue potential that participants can capitalize and analyzes the competitive environment across the value chain. Revenue potential is segmented by geography, end user, and inverter type.
Key Issues Addressed
- What is the status of the global solar PV inverter market?
- What are the key drivers and restraints affecting the market? What are the competitive factors in this market?
- Is the market growing? how long will it continue to grow and at what rate?
- Are key regulations affecting not just the solar PV market but also the inverter market?
- Which are the key growth regions for solar PV that market participants can consider for expansion?
- Who are the key market participants and what are their strategies? What does the competitive landscape look like?
- How are revenues likely to change over the course of the next few years?
- What are the avenues available for strategic investment in the global solar PV inverter market? How best can key stakeholders benefit from them?
