Solar Inverters Crank Up the Heat on Efficiency
The inverter is technologically the most important component in any solar power system: it converts the direct current generated in photovoltaic cells into alternating current suitable for the grid. In addition, it is an intelligent system manager, responsible for yield monitoring and grid management. Solar inverters are characterized by a particularly high efficiency. Because all photovoltaic panels produce electricity in DC, an inverter is required for all solar power systems to make the electricity usable.
Manufacturers of inverters are working to improve their products' efficiency in order to make them more marketable and attractive to those interested in solar power.
There are many manufacturers that are competing in the solar inverter market, covering residential, commercial, and utility-scale applications. While this study does look at all applications, the focus is on the fastest growing application sector, the utility-scale.
The market for solar inverters is growing at a double-digit CAGR, and this has opened the market up to several international companies, and many of the most recognized solar inverter brands are European. The overall market leader is a Germany-based company with a broad portfolio of solar inverters.
Strategic Issues
Users are exhibiting a cautious optimism toward PV vs. CPV solar farm. Nevertheless, suppliers believe new technologies are bringing down the cost per Kw provided. In order to help their cause, suppliers must increase their value proposition to users.
- Increase the inverter efficiency with new technologies, and promote it.
- Open up the distribution channels with more systems integrators
- Expand the geographical coverage to the fast growing markets of China and the US.
