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Commercial on Grid Micro Inverter Market Trends

Report ID: GMI11512
Published Date: Sep 2024
Report Format: PDF

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Commercial on Grid Micro Inverter Market Trends

Rising demand for reliable and resilient energy sources from commercial applications is set to improve the product adoption. In on grid solutions, failure of one inverter doesn’t affect the rest of the system, as each of the panel operates independently. This localized power generation further enhances the system resilience, ensuring continuous operation even in the event of a partial system malfunction, making it the preferred choice. Increasing demand for scalable microinverters with enhanced safety features and benefits will propel the business outlook. It further allows businesses to participate in net metering programs, generating revenue by selling surplus power back to the utility. This makes them a financially attractive option, enabling faster return on investment for commercial projects.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The global commercial on grid micro inverter industry was valued at USD 175.3 million in 2023 and is expected to grow at a CAGR of 10.2% from 2024 to 2032.

The three-phase segment is expected to grow significantly, projected to exceed USD 343 million by 2032. Its popularity stems from its high-power capacity, ideal for commercial applications requiring larger energy loads, better load balancing, and reduced voltage fluctuations.

Europe's commercial on grid micro inverter market is anticipated to surpass USD 219.5 million by 2032. Key drivers include the region’s commitment to renewable energy via the European Green Deal, national mandates, and financial incentives such as feed-in tariffs, tax rebates, and subsidies.

Leading companies in the market include APsystems, Enphase Energy, Hoymiles, NingBo Deye Inverter Technology, Omnik New Energy, Sparq System, Solax Power, SMA Solar Technology, Sungrow Power, and Yotta Energy.