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The Global Solar Micro Inverter Market, by System type (Stand Alone and Integrated (ACModule)), by By End Use (Residential, Commercial and Utility) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 2,638.9 Million by 2027, exhibiting a CAGR of 16.6 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.


A solar micro inverter or also referred to as microinverter is an electronic device used to convert direct current (DC) into an alternating current (AC) generated by a single solar module. Generally, the output from several microinverters can be combined and fed to the electrical grid. Microinverters provide numerous advantages including, module-level monitoring, easier installation, enhanced design flexibility, offers better safety than conventional inverters, etc. Moreover, it has a simplistic design, lower amperage wires, simplified stock management, and enhanced safety. However, higher initial equipment cost per peak watt is the major disadvantage of the global solar micro inverter market. Microinverters and power optimizers are collectively known as module-level power electronics, wherein it offers significant efficiency over conventional systems and deploys Maximum Power Point Tracking (MPPT). This, in turn, maximizes the output from each module and enhances the efficiency of the overall system.

The global Solar Micro Inverter Market was accounted for US$ 427.2 Mn in terms of value in 2019 and is expected to grow at CAGR of 16.6% for the period 2019-2027.

Market Driver

Increasing adoption of integrated AC modules is expected to boost the global solar micro inverter market growth over the forecast period

An AC module is a photovoltaic module that has an integrated microinverter. It offers several added benefits, which is expected to make integrated microinverter systems fastest-growing during the forecast period. For instance, it can replace junction box and shorten DC wiring, which saves up to US$ 0.03/watt and enhances safety, reduces installation time on integration thereby saving 30-50% in labor costs. Moreover, integrated modules offer numerous advantages for microinverter vendors. For instance, lower customer acquisition cost, broadened warranty standards, etc. Thus, these factors are expected to boost the global solar micro inverter market growth over the forecast period.

Market Opportunity

U.S. National Electric Code- 2014 & 2017 can present major growth opportunities

National Electric Code fortify the use of Micro Inverters

In order to enhance fire and electrical safety, The National Electric Code – 2014 (a standard code enacted in the U.S., is a regionally adoptable standard for the safe installation of electrical wiring and equipment) was enacted in the U.S.  The code is being voluntarily adopted by state municipalities, in order to standardize their imposition of safe electrical practices. The adoption of Nation Electric Code – 2014, across the states- has been phenomenal with 24 member states as of November 2015. Moreover, the proposed National Electric Code 2017, is expected to include the module-level shutdown. This requirement would obligate the use of MLPE. 

Market Restraint

Higher upfront cost as compared to conventional inverters is expected to hamper the global solar micro inverter market growth over the forecast period

According to Coherent Market Insights’ analysis, in 2015, the global average selling price of a microinverter was US$ 0.51/watt; whereas, the cost of a single-phase string inverter was only US$ 0.25/watt. Although the microinverter system enables users to save significantly on wiring and installation costs, the overall cost of a string inverter installation is significantly lower. Moreover, for smaller installations, say 2-4kW, a microinverter system costs 15–25% more than that of a string inverter system, but its simplicity, flexibility, and higher efficiency makes ROI for smaller systems faster when compared to string inverters. Although manufacturers claim that microinverters are better a long-term solution, the significant price difference is expected to hamper the market growth.

Market Trends

  1. Entrance of big electronic players

Major electrical and electronic companies are entering into the global solar micro inverter market. For instance, in 2011, Darfon Electronics Corporation expanded its solar arm by adding microinverters to its product portfolio. In 2012, Siemens Industry and Enphase entered into a distribution agreement for the sale of Enphase’s PV microinverters through Siemens' network of electrical equipment distributors. Moreover, in 2014, ABB acquired “Power One” and expanded its offerings in the solar energy industry. In 2014, LG Electronics’ new “MONO-X ACE” AC solar module signifies LG’s ongoing R&D investments in solar technology.

  1. Increasing partnerships with solar PV installers

Major companies in the market are partnering with PV installers, in order to expand revenues and consumer base. For instance, systems have partnered with a significant number of China-based installers and acquired a good share of the Chinese solar microinverter market. Some of its China-based partners include Amray Solar, Yingli Solar, Techno Sun, Hina and various others. Enphase Energy has partnered with companies such as CED Greentech and Vivint Solar, Inc., which accounted for 17% and 12% of its net revenues respectively in 2015.

Competitive Section

Key players operating in the global solar micro inverter market are SunPower Corporation, Enphase Energy Inc., iEnergy Co. Ltd., Altenergy Power System Inc., Chilicon Power, LLC, SMA Solar Technology AG, Sparq Systems, SMA Solar Technology AG, Northern Electric and Power Co. Ltd, ABB Ltd., LG Electronics, and Darfon Electronics Corporation.

Key Developments

  1. Major companies in the market are involved in product launches, in order to expand product portfolio. For instance, in March 2018, Sparq Systems Inc. launched a Q1200 microinverter with low-cost power conversion and smart grid capability at the lowest per-watt cost.
  2. Key players in the market are focused on partnerships and collaborations in order to gain a competitive edge in the market. For instance, in July 2017, LG Electronics collaborated with Enphase Energy to launch the NeON 2 ACe module.


Market Taxonomy:

  1. By System Type
    • Stand Alone
    • Integrated (ACModule)
  2. By End- Use
    • Residential
    • Commercial
    • Utility
  3. By Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa
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