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Commercial Three Phase Micro Inverter Market Trends

Report ID: GMI11017
Published Date: Aug 2024
Report Format: PDF

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Commercial Three Phase Micro Inverter Market Trends

Continuous decline in the cost of microinverters coupled with technological advancements such as improved durability, higher power ratings, and more efficient designs, is encouraging their adoption in commercial settings. Increasing shift towards distributed energy generation to reduce the impact of faults in a single panel on the overall system, leading to more reliable energy generation additionally drives the market growth. Furthermore, many governments and private companies are offering incentives and policies such as Investment Tax Credit (ITC) in the U.S. for promoting renewable energy adoption are fostering product adoption due to the financial benefits and long-term savings.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of commercial three phase micro inverter reached USD 231.9 million in 2023 and will exhibit a CAGR of 12.3% through 2032, due to the rising demand for enhanced system monitoring and the need for scalable solar arrays.

On grid segment is projected to be worth more than USD 410.5 million by 2032, owing to its efficient integration with solar power into the existing electrical grid.

Europe market is projected to surpass USD 353.5 million by 2032, supported by EU regulations and incentives that boost solar power adoption and promote energy efficiency and sustainability.

APsystems, ABB, Darfon Electronics Corp, Enphase Energy, Hoymiles, NingBo Deye Inverter Technology Co.Ltd, Sparq System, SolaX Power, Yotta Energy, and Zhejiang Beny Electric Co. Ltd.