Commercial on Grid Micro Inverter Market Analysis

Commercial on Grid Micro Inverter Market Analysis

Based on phase, the market is segmented into three phase and single phase. Three phase is projected to grow by more than USD 343 million by 2032 on account of its high-power capacity making them ideal for commercial applications that require larger energy loads. Increasing demand for solutions offering better load balance, minimizing voltage fluctuations and reducing the chances of power imbalances will drive the multiphase product adoption. Moreover, growing demand for cost efficient systems offering high scalability, allowing easier expansion of the solar system without overloading the electrical infrastructure will augment the industry statistics.
 

Europe commercial on grid micro inverter market is anticipated to grow over USD 219.5 million by 2032. Rising commitment towards renewable energy through initiatives comprising the European Green Deal and national renewable energy mandates coupled with support in terms of incentives including feed-in tariffs, tax rebates, and subsidies for green energy installations will create favorable opportunities for business growth. This makes the product an attractive option, as they support businesses to maximize the energy efficiency and take advantage of the incentives propelling the product adoption.
 

Furthermore, businesses in the region are turning to solar power to reduce their carbon footprint, making microinverters a vital choice for ensuring efficient energy generation. Increasing modernization of European power grids to accommodate renewable energy sources is boosting demand for intelligent energy systems that can communicate with the grid, will complement the product adoption.
 

In the U.S. rising investments in solar energy to meet sustainability targets by large corporations is set to bolster the industry growth. Growing interest in integrating solar systems with energy storage solutions to improve energy reliability and grid resilience additionally drives the product penetration, enabling businesses to store excess power generated during the day and use it during peak hours or when the grid is down.