With expanding interest in installing the solar energy systems, “which provides a clean source of energy and is renewable”. The solar inverter, one of the most important equipment is finalizing the purchase once you are ready to install the system for homes or for commercial purposes. We will cover the topic for solar inverters with respect to its sale, production overall market value worldwide that how much the production generates a revenue.
According to one research, the global value of Pv inverters is very much possible to decline approximately from $5.7 to %5.2, the global data represents the rapid increase in solar PV systems every year and the prices are very much expected to be reduced in 2020 by 20 to 25%.
The fall in prices also lowers the manufacturing cost, manufacturing companies will increase the supply and probably will have a good impact on the market.
Contrary to the other research that says the PV inverters will take the place of Central inverters by 2020. The inverter’s shipments reached 59.7GW. However, China’s shipment was on top in 2016. It is mostly expected that the roof inverters MLPE such as power optimizer and micro-inverter will take the place of string inverters.
By 2020 the global PV inverter shipments will reach 90GW and the global market value will increase.
The solar inverter manufacturing companies are mainly based in Europe, others in North America and other Asian countries.
Swiss ABB is the 2nd largest manufacturing company whereas the top still holds the SMA solar that holds the share of 10% in 2013.
The data have been collected from “Global Data” which is authentic and more than 10,000 researchers are working in it.