String Inverter Market Overview
A string inverter is a device applied in
collaboration with solar arrays to transform the energy that is generated
(Direct Current) to exploitable electricity for a residence (Alternating
Current). They are associated to several solar panels with the aim of making
the performance equal to the worst performing panel. String inverters have the
advantage of being a short-term low-cost solution owing to the lower equipment
need as compared to micro inverters. A detailed analysis report of COVID-19 impact on String Inverter Market Analysis is provided with the
report.
One string inverter can monitor the energy generated
from an array of 5 to 10 panels. Therefore, the user can save on the direct
equipment cost by purchasing one string inverter instead of 5 to 10 micro
inverters. Nonetheless, the long-term costs linked with string inverters far
prevail over the advantages.
Industry Highlights
A
string inverter framework can only act as well as its lowest operating panel.
So, if a panel is facing obstruction from shade or debris, every other panel
linked to that inverter will operate at a reduced capacity. On top of all
these, there is high voltage electrical energy prevailing constantly on the
user’s roof. As the energy gets converted at the conclusion of the row of
panels, and it does not directly impact the panel, almost 1,000 volts of DC
electricity gets transferred across the roof. This can pose as a key hazard
that can pave the way for fire and arc-faulting. In string inverter, each
installation requires a mode of conversion from direct current to alternative
such as solar inverter systems, which allows generated electricity to be
supplied into the power grid.
Growing
demand for constant and consistent power sources as well as easy customization
and installation are some of the aspects which propel the market for string
inventor. String inverters find wide application in commercial, residential,
utilities, and industrial fields. The rising consumption of solar energy
throughout the globe is considered as one of the key driving factors for the
expansion of the market. The string inverter market is likely to be boosted by
reduced cost coupled with eliminating systems monitoring abilities.
Additionally, accessibility, increased efficiency,
and reliability will boost global string inventor’s market share during the
assessment period. Growing renewable incorporation in utility scale large
projects is also boosting the development of string inverters market. On the
other hand, heat loss owing to the large size of the inverter often acts as a
key limiting factor for the growth of the worldwide string inverter market.
String Inverter Market Segmentation
Based on product, the global string inverter market
is segmented into on grid and off grid inverters.
Based on phase, the global string inverter market is
segmented into three and single string inverters.
Based on application, the global string inverter
market is segmented into residential, commercial, industrial, and utilities.
String Inverter Regional Industry Analysis
Asia-Pacific is likely to lead the global string
inverter market over the forecast period. The growth can be attributed to the
factor such as development on account of surging demand for clean fuel electricity.
Additionally, government initiatives such as Jawaharlal Nehru National solar
mission in India, to stimulate solar system adoption as well as norms such as
feed-in tariffs can be considered as motivating forces behind the growth of the
market. While, Americas are estimated to be the rapidest growing market owing
to surging demand for power in association with the area’s increased
irradiation levels, making the region idyllic for PV installations.
Leading Players
The global string inverter market is dominated by
key players such as Huawei Technologies, SolarMax, Fronius International,
Sungrow Power Supply, Growatt New Energy Technology, KOSTAL Solar Electric,
Ingeteam, Schneider, Advanced Energy Industries, Ginlong Technologies, and KACO
New Energy.
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