Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A PV inverter is a device that converts direct current from solar panels into alternate current of the required frequency, which is then supplied to the electric grid. This device uses the maximum power point tracking (MPPT) technique to extract the maximum amount of power from an array of solar panels. Though it functions just as a simple converter, a PV inverter is the most essential part of a solar power plant.
Solar PV inverters are essential component of the solar PV systems and account for 10-15% of the overall cost. Solar inverter technologies are being rapidly developed and more sophisticated features such as remote monitoring and optimization are being integrated into the inverters. Factors such as quality, reliability, and efficiency are important purchase parameters of the inverters.
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Global solar PV inverter market to grow at a CAGR of 14.86% in terms of revenue and 21.53% in terms of annual installed capacity over the period 2014-2019. The report includes the present scenario and the growth prospects of global solar PV inverter market for the period 2015-2019. The market can be segmented into three divisions: technology, application, and geography.
Global Solar PV Inverter Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a discussion of the key vendors operating in this market.
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Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
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- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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