Solar hybrid inverters apart from converting direct current to alternate current can also store excess power while working with batteries. These types of inverters solve the issues related to renewable energy variability and unreliable grid inverter structures. These inverters are also available in the range of hybrid solar inverter 48V. Hybrid inverter with solar battery charging and hybrid grid-tie inverter are some of the advanced inverters available worldwide.
The Global Solar Hybrid Inverter Market size is projected to reach USD 12,829.0 Million by 2027 from an estimated USD 7,633.4 million, with +9% CAGR from 2021 to 2027.
The primary growth drivers of the global solar hybrid inverter market include rising investments in solar power systems and favorable government initiatives and policies. These policies are likely to boost the solar hybrid inverter industry as these policies will encourage the use of efficient solar devices including solar hybrid inverters. Moreover, a solar hybrid inverter is a solar hybrid UPS system with two inbuilt chargers such as grid chargers and solar chargers and provide instant power supply in case of grid power failure. Also, products such as Solar edge hybrid inverters and Infini inverters are aimed at providing energy outputs through maximum power point tracking, adding to the market growth.
The global solar hybrid inverter market is projected to grow at a high rate during the forecast period. Solar hybrid inverters are frequently used in developing countries, especially the countries where access to a reliable power grid is a major concern. Moreover, in countries such as India and South Africa, increasing installation of microgrid is also likely to positively impact the solar hybrid inverter market. Apart from developing countries, many developed countries of North America and Europe are also increasingly deploying solar hybrid inverters in the situation of weak grids. However, the high cost of solar inverters and high maintenance costs is one of the major restraints that could hinder the global solar hybrid inverter market. The growing demand for polycrystalline solar panels is expected to be an opportunity for global solar hybrid inverter market players.
- ABB Ltd.
- Delta Electronics Inc.
- Flin Technologies Pvt. Ltd.
- Growatt New Energy Technology Co. Ltd.
- KACO new energy
- Microtek International Pvt. Ltd.
- Schneider Electric SE
- SolarEdge Technologies Inc.
- Su-Kam Power Systems Ltd.
- Tabuchi Electric Co. Ltd.
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Key Market Drivers
- Rising investments in solar power systems
- Favorable government initiatives and policies
Solar Hybrid Inverter Market Segmentation
- Single-Phase Hybrid
- Three-Phase Hybrid
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- North America
- South America
- The Middle East and Africa
- Government and research organization
- Manufacturing companies of solar hybrid inverters
- Investors and shareholders
- Associations for renewables
Detailed TOC of Global Solar Hybrid Inverter Market Research Report-
– Solar Hybrid Inverter Market Introduction and Market Overview
– Solar Hybrid Inverter Market, by Application
– Solar Hybrid Inverter Market Industry Chain Analysis
– Solar Hybrid Inverter Market, by Type
– Industry Manufacture, Consumption, Export, Import by Regions
– Industry Value ($) by Region
– Global Solar Hybrid Inverter Market Status and SWOT Analysis by Regions
– Major Region of Solar Hybrid Inverter Market
- i) Global Solar Hybrid Inverter Market Sales
- ii) Global Solar Hybrid Inverter Market Revenue & market share
– Major Companies List
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