Photovoltaic (PV) Inverter Market drivers of growth analysed in a new research report
Favourable government initiatives to promote sustainable energy will foster the Photovoltaic inverter market size during forecast period. Financial support and various scheme such as feed in tariff, net metering promote deployment of new project and development of renewable energy technologies will further complement the growth of this industry. In 2015, 78% of global photovoltaic market are driven by financial incentives, 6% from competitive tenders and 15% through net metering.
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Growing demand for off grid electricity will augment global PV inverter market share during the forecast period. Modern energy access is essential for safety and security purpose. As of 2015, over 1.2 billion people across globe has no electricity access. Over 85% of population belongs to developing Asia and sub Saharan Africa and majority of people living in rural area.
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Decreasing solar component cost coupled with increasing operational efficiency will encourage the solar installation, which will drive the PV inverter market in future. Advancement of technology and manufacturing improvement in the has resulted into considerable decline in the prices of components. Strict government regulation to reduce the greenhouse gas emission and increasing demand for electricity will further compliment the industry outlook.
Positive indicators towards off grid electricity demand coupled with cost effectiveness of renewable energy will favor the standalone PV inverter market size growth during forecast period.
On grid product, is anticipated to witness a gain at over 19% and is likely to reach over USD 10 billion by 2024 period. Net metering and Feed in tariff will encourage the business growth.
Reasons to Buy This Report:
1. Photovoltaic (PV) Inverter Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Photovoltaic (PV) Inverter Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
U.S. PV inverter market share is projected to witness substantial gains over 19% owing to government measures toward energy conservation and adoption of renewable energy over conventional fuel. Minnesota, Colorado and Massachusetts will collectively install over 100 MW of solar community in 2016.
South Africa was valued at 144 MW and is expected to reach over USD 37 million by 2024 subject to increasing demand for off grid electricity. Implementation of Renewable Energy Independent Power Producer Programs by various African government will encourage this industry growth. It has target to install 10,000GWh of renewable energy.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/234
China PV inverter market share is expected to reach over 70 GW by 2024. NEA announced its target to install 18.1 GW PV, out of which 12.6GW are account for standard installation including distributed and ground mounted project and 5.5 GW accounted for demonstration project under front runner program. In 2016, China is also planning to execute photovoltaic poverty alleviation program, up to 2020 to install 10 GW of solar panels.
Chile was valued at USD 33.95 million in 2015 and is likely to be grow at the rate of over 13% by 2024. Increasing installation of large solar projects coupled with huge untapped potential may favor the business.
Major industry players include SMA Solar Technology, KACO New Energy Inc, Mitsubishi Electric, Advanced Energy Industries, Growatt New Energy Technology, REFUsol, Omron, Schneider Electric, Bonfiglioli Riduttori, Ingeteam, Siemens AG., ABB, Enphase Energy, Sungrow Power Supply, Fronius International Gmbh, Huawei Technologies, Tabuchi Electric Co., Ltd., Elettronica Santerno, Jiangsu Zeversolar New Energy.
Photovoltaic inverter is used to convert dc into alternating current and then feed into grid. It has power optimization, monitoring and securing and low loss conversion efficiency. Stringent government regulation to reduce carbon emission will favor the growth of this industry during forecast period. Increasing awareness regarding fossil fuel conservation and clean fuel demand will complement the industry growth. Lack of customer awareness regarding subsidies and technologies may hamper the growth.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/
Connect with us: Google+ | LinkedIn | Twitter | Facebook
Purchase This Report by calling Global Market Insights, Inc. at 1-888-689-0688 (Toll Free) or 1-302-846-7766.
Growing demand for off grid electricity will augment global PV inverter market share during the forecast period. Modern energy access is essential for safety and security purpose. As of 2015, over 1.2 billion people across globe has no electricity access. Over 85% of population belongs to developing Asia and sub Saharan Africa and majority of people living in rural area.
Request for sample copy of this research report @
https://www.gminsights.com/request-sample/detail/234
Decreasing solar component cost coupled with increasing operational efficiency will encourage the solar installation, which will drive the PV inverter market in future. Advancement of technology and manufacturing improvement in the has resulted into considerable decline in the prices of components. Strict government regulation to reduce the greenhouse gas emission and increasing demand for electricity will further compliment the industry outlook.
Positive indicators towards off grid electricity demand coupled with cost effectiveness of renewable energy will favor the standalone PV inverter market size growth during forecast period.
On grid product, is anticipated to witness a gain at over 19% and is likely to reach over USD 10 billion by 2024 period. Net metering and Feed in tariff will encourage the business growth.
Reasons to Buy This Report:
1. Photovoltaic (PV) Inverter Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Photovoltaic (PV) Inverter Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
U.S. PV inverter market share is projected to witness substantial gains over 19% owing to government measures toward energy conservation and adoption of renewable energy over conventional fuel. Minnesota, Colorado and Massachusetts will collectively install over 100 MW of solar community in 2016.
South Africa was valued at 144 MW and is expected to reach over USD 37 million by 2024 subject to increasing demand for off grid electricity. Implementation of Renewable Energy Independent Power Producer Programs by various African government will encourage this industry growth. It has target to install 10,000GWh of renewable energy.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/234
China PV inverter market share is expected to reach over 70 GW by 2024. NEA announced its target to install 18.1 GW PV, out of which 12.6GW are account for standard installation including distributed and ground mounted project and 5.5 GW accounted for demonstration project under front runner program. In 2016, China is also planning to execute photovoltaic poverty alleviation program, up to 2020 to install 10 GW of solar panels.
Chile was valued at USD 33.95 million in 2015 and is likely to be grow at the rate of over 13% by 2024. Increasing installation of large solar projects coupled with huge untapped potential may favor the business.
Major industry players include SMA Solar Technology, KACO New Energy Inc, Mitsubishi Electric, Advanced Energy Industries, Growatt New Energy Technology, REFUsol, Omron, Schneider Electric, Bonfiglioli Riduttori, Ingeteam, Siemens AG., ABB, Enphase Energy, Sungrow Power Supply, Fronius International Gmbh, Huawei Technologies, Tabuchi Electric Co., Ltd., Elettronica Santerno, Jiangsu Zeversolar New Energy.
Photovoltaic inverter is used to convert dc into alternating current and then feed into grid. It has power optimization, monitoring and securing and low loss conversion efficiency. Stringent government regulation to reduce carbon emission will favor the growth of this industry during forecast period. Increasing awareness regarding fossil fuel conservation and clean fuel demand will complement the industry growth. Lack of customer awareness regarding subsidies and technologies may hamper the growth.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/
Connect with us: Google+ | LinkedIn | Twitter | Facebook