A Co-hosted Event At SOLAR BOS MEET India
According to a latest industry report, global shipments of solar photovoltaic (PV) inverters will reach 90 gigawatts (AC) by 2020. This represents an average annual growth rate of 11 percent between 2016 and 2020. Of the 59.7 gigawatts shipped in 2015, 66 percent were in the Asia-Pacific region, led by China, India and Japan.
With the impending decline of some key markets, the report notes that demand will shift to other regions including Latin America, India, the Middle East and Africa. By 2020, research forecasts the Asia-Pacific region to account for less than half of all inverter shipments. In spite of the promising long-term outlook, growth will be flat in 2016, according to an industry research.
Everything You Wanted To Know About The Solar Inverter Industry! Focussing On Technology, Market Outlook and Demand-Supply Trends!
There have also been a fundamental shift in inverter technology preferences. In 2015, central inverters accounted for 57 percent of all inverter shipments, but with the continued rise of three-phase string inverters, central inverters will see its share fall to 43 percent by 2020. Module-level power electronics will additionally gain share as their prices fall and use expands to commercial markets. MLPE are expected to account for 10 percent of all inverter shipments by 2020.
Inverter technology continues to improve and pricing continues to steadily declining as the market grows and technology advancements enable lower costs. The report points to 1,500-volt inverter technology, higher power density string inverters and rapidly falling microinverter pricing as key drivers for the overall downward pricing trend. The research also forecasts inverter prices to decline 10 to 12 percent annually across most product segments through 2020.
Today’s solar inverter technologies do more than convert the variable dc output of a photovoltaic solar panel into utility frequency ac suitable for a commercial grid or to a local, off-grid electrical network.
Within the fast-growing solar-energy market, solar-inverter suppliers must keep pace with electronic technology advances in order to deliver more efficient and reliable parts at a lower cost. Inverter efficiency indicates the percentage of the available solar power that’s actually converted by the inverter and fed into the utility grid; some smart inverters reach a total efficiency of 98%. To achieve high efficiency, it’s important to design the inverters using the most reliable components from power semiconductors (MOSFETs and/or IGBTs), capacitors (electrolytic capacitors, high-capacity film capacitors), transformers, cooling systems, etc.
Several energy storage projects that were under construction early in the year reached commercial operation in 3Q 2016. New projects are being announced on a routine basis, and the global energy storage industry is continuing to explore different business cases that make energy storage systems (ESSs) profitable. Innovative applications like renewables integration and behind-the-meter (BTM) systems are becoming economically attractive, resulting in new geographic markets continuing to open up.
Lithium ion (Li-ion) batteries remain the leading form of storage for new projects worldwide, accounting for 83.0% of newly announced ESS capacity storage through 3Q 2016 (excluding pumped hydro storage). Li-ion batteries are the most popular technology for the growing distributed energy storage system (DESS) and BTM market segments. Also notable within the market is the increase in announced projects utilizing flow batteries and hybrid battery systems. Hybrid systems are advantageous in that they can provide multiple services to the grid based on dynamic conditions and specific requirements. While market activity has picked up in a number of regions during 2016, North America remains the largest market for newly announced ESSs. An estimated 1,997.3 MW of new ESSs have been announced worldwide in 2016 so far, with approximately 15.8% coming from North America.
The event will witness exciting discussions and debates regarding the current as well as future aspects of the Utility Scale & Rooftop Scale Solar PV Inverters Market based upon factors such as market dynamics, key ongoing trends and segmentation analysis. Apart from the above elements, event will also provide a 360-degree view of the Solar PV Inverters industry with geographic segmentation, statistical forecast and the competitive landscape.
Latest Developements In Rooftop & Utility Scale Solar Inverter Industry!
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