Photovoltaics
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Global Solar PV Inverter Market 2015-2019
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A PV inverter is a device that converts direct current from solar panels into alternate current of the required frequency, which is then supplied to the electric grid. This device uses the maximum power point tracking (MPPT) technique to extract the maximum amount of power from an array of solar panels. Though it functions just as a simple converter, a PV inverter is the most essential part of a solar power plant.

Solar PV inverters are essential component of the solar PV systems and account for 10-15% of the overall cost. Solar inverter technologies are being rapidly developed and more sophisticated features such as remote monitoring and optimization are being integrated into the inverters. Factors such as quality, reliability, and efficiency are important purchase parameters of the inverters.

Analysts recognise the following companies as the key players in the Global Solar PV Inverter Market: ABB, OMRON, SMA, Sungrow and TMEIC

Other Prominent Vendors in the market are: Bonfiglioli Riduttori, Danfoss Solar Inverter, Eaton, Emerson, Enphase Energy, Fronius International, GE, Jiangsu Zeversolar New Energy, Mitsubishi, Proniso, REFUsol, Riello, Siemens, TDK, and Toshiba.

The most significant way to reduce GHG emissions is the use of renewable energy. Green energy generation involves the use of renewable sources such as solar energy, wind energy, and air and hydraulic energy to generate power. Therefore, it reduces carbon and other hazardous emissions considerably.

According to analysts, the availability of PV inverters that are integrated with energy storage devices has increased considerably. This has helped address the increased need for efficient load management among industries in the renewable energy sector because energy storage devices ensure continued power supply in grids and minimize interruptions. As a result, load management has become more effective, increasing the reliability of power grids.

Further, analysts state that one of the challenges faced by the market is solar power generation industry depends heavily on sunlight, seasonal fluctuations in the availability of sunlight could cause intermittent power supply issues.

Key vendors
• ABB
• Omron
• SMA
• Sungrow
• TMEIC

Other prominent vendors
• Bonfiglioli Riduttori
• Danfoss Solar Inverter
• Eaton
• Emerson Electric
• Enphase Energy
• Fronius International
• GE
• Jiangsu Zeversolar New Energy
• Mitsubishi Electric
• Proniso
• REFUsol
• Riello
• Siemens
• TDK
• Toshiba

Market driver
• Growth in global PV installations and increase in solar energy consumption

Market challenge
• Seasonal fluctuation of solar power availability

Market trend
• Increased need to reduce carbon emissions

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Author:
Mike King
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