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According to the latest report, between now and 2020, photovoltaic inverters and module-level power electronics will grow at an annual growth rate of 11%, and central inverters may gradually withdraw from market dominance
.
According to GTMResearch's 2016 Global PV Inverter and MLPE Outlook Report, which is expected to see a period of strong growth
in standard inverter and module level power electronics (MLPE) technology between now and 2020.
According to the report, inverter and MLPE shipments reached 59.
7GW last year, of which the Asia-Pacific market accounted for 66%.
In 2015, China's Huawei inverter shipments occupied the top spot
.
Chinese companies Sungrow, German SMA, Swiss ABB and Japan's TMEIC suppliers ranked in the top five
.
After two years of steady growth, the outlook is promising
.
Scott Moskowitz, an analyst at GTMResearch, said shipments in 2015 will surge to meet project demand in 2016 due to strong demand
growth due to the extension of the U.
S.
utility's solar investment tax deduction (ITC) policy.
By 2017, total installations will slow down and shipments will be relatively flat
.
Tangible technology transfer
The GTM report also points to a tangible and fundamental shift in market preferences, with central inverters seemingly on the verge of losing market share
.
Central inverters accounted for 57% of total shipments in 2015, but with the trend of three-phase string inverters growing – especially at utility scale – GTM expects the share of central inverters in global shipments to decline to 43%
by 2020.
In its place, string inverters, along with the technology, will gradually be favored
by ground-mounted solar farms.
For rooftop projects, MLPE technologies such as power optimizers and microinverters will continue to prove their worth
.
By 2020, it may account for 10%
of inverter shipments.
GTM expects that prices across the inverter industry will decline in the future (10-12% per year), and the increasing adoption of 1500-volt inverter technology will use string inverters
with higher power density.
By 2020, the global PV inverter market will be worth more than $7.
1 billion.
According to the latest report, between now and 2020, photovoltaic inverters and module-level power electronics will grow at an annual growth rate of 11%, and central inverters may gradually withdraw from market dominance
.
According to GTMResearch's 2016 Global PV Inverter and MLPE Outlook Report, which is expected to see a period of strong growth
in standard inverter and module level power electronics (MLPE) technology between now and 2020.
According to the report, inverter and MLPE shipments reached 59.
7GW last year, of which the Asia-Pacific market accounted for 66%.
In 2015, China's Huawei inverter shipments occupied the top spot
.
Chinese companies Sungrow, German SMA, Swiss ABB and Japan's TMEIC suppliers ranked in the top five
.
After two years of steady growth, the outlook is promising
.
Scott Moskowitz, an analyst at GTMResearch, said shipments in 2015 will surge to meet project demand in 2016 due to strong demand
growth due to the extension of the U.
S.
utility's solar investment tax deduction (ITC) policy.
By 2017, total installations will slow down and shipments will be relatively flat
.
Tangible technology transfer
Tangible technology transferThe GTM report also points to a tangible and fundamental shift in market preferences, with central inverters seemingly on the verge of losing market share
.
Central inverters accounted for 57% of total shipments in 2015, but with the trend of three-phase string inverters growing – especially at utility scale – GTM expects the share of central inverters in global shipments to decline to 43%
by 2020.
In its place, string inverters, along with the technology, will gradually be favored
by ground-mounted solar farms.
For rooftop projects, MLPE technologies such as power optimizers and microinverters will continue to prove their worth
.
By 2020, it may account for 10%
of inverter shipments.
GTM expects that prices across the inverter industry will decline in the future (10-12% per year), and the increasing adoption of 1500-volt inverter technology will use string inverters
with higher power density.
By 2020, the global PV inverter market will be worth more than $7.
1 billion.
