London, 29 September 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global Solar PV Inverter Market 2014-2018.
A PV inverter is a device that converts the DC current from solar panels into AC current of the required frequency, which is then supplied to the electric grid. The device uses Maximum Power Point Tracking (MPPT) techniques to extract the maximum amount of power from an array of solar panels. The Global Solar PV Inverter market is expected to grow moderately at a CAGR of 2.7 percent from 2014-2018.
The latest report by TechNavio focuses on the integration of energy storage devices with PV inverters, as they help optimize load management. These devices store the solar power in the morning and distribute it later in the night, when the demand for electricity is high. The report also highlights the growing need to reduce carbon emissions and use more renewable sources of energy.
“Green energy generation harness renewable sources like sun, wind, air and water to generate energy, thus reducing carbon emissions. Solar energy is an abundantly available and reliable resource and emits less CO2 compared with burning fossil fuels. Therefore, governments around the world are encouraging the use of solar power plants, spurring growth in the solar PV market” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Integration of Energy Storage Devices with PV Inverters
- For a full detailed list, view our report.
Market Challenges:
- Seasonal Fluctuation of Solar Power Availability
- For a full detailed list, view our report.
Market Trends:
- Increased Need to Reduce Carbon Emissions
- For a full detailed list, view our report.
Key Vendors:
- KACO New Energy Inc.
- Power-One Inc.
- Schneider Electric Co.
- SMA Solar Technology AG
Other Prominent Vendors:
- Bonfiglioli Riduttori
- Danfoss Solar Inverter
- Eaton
- Emerson Electric
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
