Leading market players are focusing on merger and acquisition operations to strengthen their market position. Prices have been falling on a regular basis in the worldwide solar micro inverter market, and this trend is projected to continue during the forecast period. Embedded micro inverters can be entirely incorporated into a module's junction box to make a more dependable and less expensive AC module. Customers benefit from significant cost savings as a result of this, which replaces the traditional junction box layout. The increasing use of DC optimizers is likely to impede the growth of the global solar micro inverter market over the forecast period. During Covid-19 the micro-inverter market has been significantly hit by the Pandemic breakout, with this government imposing different laws and restrictions globally, resulting in the closure of several production sites owing to a lack of trained workers and raw materials. Additionally, such a circumstance has a negative impact on the market, resulting in a significant income loss due to fewer demand for power supply in the market.
According to Coherent Market Insights, the Solar Micro Inverter Market was valued at US$ 311.5 Mn in 2022 and is expected to reach US$ 715.7 Mn by 2030, growing at a CAGR of 18.3% between 2022 and 2030.
Prominent Companies in the Solar Micro Inverter Industry:
1. SunPower Corporation
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation is a subsidiary of TotalEnergies SE. In 2014, SunPower Corp. acquired VC-funded SolarBridge Technologies, Inc., to expand its product offerings by including factory-integrated AC modules.
2. Enphase Energy Inc.
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California. In October 2022, Enphase Energy, Inc., launched an all-in-one Enphase Energy System with IQ8™ solar microinverters. This microinverter was capable to provide homeowners & business owners with power for running appliances during a grid outage.
3. Altenergy Power System Inc.
AP Systems develops and manufactures solar micro-inverter technology for residential and commercial systems. The company was founded in 2010, headquartered in The Netherlands.
4. Chilicon Power