Rise in residential solar rooftop installations is expected to drive the growth of United States solar microinverter market
According to TechSci Research report, “United States Solar Microinverter Market By Type (Single Phase and Three Phase), By Connectivity (Integrated, Standalone), By Application (Residential, Commercial, PV Power Plant), By Sales Channel (Direct and Indirect), By Region, Competition, Forecast & Opportunities, 2025”, United States solar microinverter market is expected to witness formidable CAGR during the forecast period. Rapid increase in renewable energy investment is one of the major factors accounting for the growth of United States solar microinverter market. Moreover, ongoing advancements in research and development of solar micro inverters is expected to bode well for the growth of United States solar microinverter market through the forecast period. In addition to this, growing demand from residential and consumers market is expected to positively influence the growth of United States solar microinverter market in the years to come. Also, solar microinverter offers certain benefits over conventional solar inverter technologies is further making headway for the growth of United States solar microinverter market. However, there are some factors that might act as major impediments to the growth of United States solar microinverter market through 2025 such as higher initial and maintenance cost of solar micro-inverters in comparison to central and string inverter installation as it requires more components such as interconnecting cables, sealing caps and terminators, thereby increasing overall cost.
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United States solar microinverter market can be segmented based on type, connectivity, application, sales channel, company, and region. The United States solar microinverter market is segmented based on type, connectivity, application, sales channel, company, and region. Considering the application, the market is fragmented into residential, commercial, PV power plant. Here, the micro-inverter market for residential applications dominated the market until 2019 and is expected to grow at the highest CAGR during the forecast period. This dominance can be attributed to the rising energy cost, along with growing government support across the country. These factors are resulting in increased adoption of energy conservation measures in order to control the surging energy expenditure in residential applications. Moreover, US is among the leading markets for residential rooftop PV installations, that have widely adopted micro-inverters over conventional inverters, which has further contributed to the growing trend.
Enphase Energy, Altenergy Power System, Chilicon Power, SunPower, Siemens, Envertech, ReneSola, Darfon Electronics, AEconversion, ABB, are among others are the leading players operating in United States solar microinverter market. The players are adopting several growth strategies to enhance the market scenario of solar microinverters. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“United States is anticipated to dominate the solar microinverter market until 2025 on account of large-scale acceptance of micro-inverter technology, especially for residential applications. Unlike string inverters, these micro-inverters are not confined to panel placement in one or two different orientations, which is further boosting the demand for solar microinverters, as it yields more solar electricity. This in turn, is expected to bolster the solar microinverter market growth during the forecast period. In addition to this, growing government participation in promoting renewable energy sources is anticipated to boost the growth of solar microinverter market in the country in the years to come.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Solar Microinverter Market By Type (Single Phase and Three Phase), By Connectivity (Integrated, Standalone), By Application (Residential, Commercial, PV Power Plant), By Sales Channel (Direct and Indirect), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of United States solar microinverter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in United States solar microinverter market.
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