Governments across the world are shifting toward non-conventional sources of energy from conventional sources due to the growing environmental concerns. Owing to the increasing focus on alternative energy, countries across the globe are opting for solar photovoltaic (PV) panel installation. The large-scale adoption of such systems is also stimulated by the declining cost of micro inverters. Due to the importance, appreciable performance, and affordability of advanced solar micro inverters, they are being rapidly integrated in residential PV setups. 

In recent years, the adoption of standalone micro inverter systems has been wider in comparison to integrated systems due to the lower cost of the former. However, in the coming years, the demand for integrated systems is projected to surge owing to the rising focus of system providers on integrated module systems, declining cost of such micro inverters, rising frequency of strategic partnerships, and increasing product launches. Moreover, the high-performance integrated module systems or AC modules are designed to minimize the installation time and meet the high electricity demand.

Get More Insights: Solar Micro Inverters Market Revenue Estimation and Growth Forecast Report

Due to the government support for and shift toward renewable sources of energy, several companies have started developing improved products and services to support solar energy systems. In the solar micro inverters market, players such as Enphase Energy Inc., ABB Ltd., SunPower Corporation, Darfon Electronics Corp., SolarEdge Technologies Inc., Altenergy Power System Inc., and Northern Electric and Power Co. Ltd. are engaging in geographical expansions and product launches to amplify their presence and promote the adoption of solar energy.

Thus, the increasing support from the government and widescale installation of PV systems are driving the demand for solar micro inverters. Moreover, the largescale adoption of these inverters had led to a decline in their cost, which is augmenting the shift to solar energy sources, thereby helping conserve the environment.