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. 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.
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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
Global string inverter market is segmented based on product, region, phase, and application.
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.
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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