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The India solar microinverter market is currently witnessing robust growth. A solar microinverter refers to electronic equipment that is used to convert the direct current (DC) generated by solar panels to alternating current (AC). It is attached to solar panels and converts the current separately. The solar microinverter is different from string inverters and central inverters, which are generally used for utility-sized solar power stations. In India, solar microinverters are gaining immense popularity as they are safe, reliable, and cost-effective. They also help reduce the risk of fire, dissipate significantly less heat, produce more electricity, operate without noise and offer immense design flexibility.
The India solar microinverter market is primarily driven by a shift from fossil fuel-based energy generation to sustainable and clean power sources. With the rising environmental concerns, the Government of India has undertaken several favorable initiatives to promote the use of renewable energy sources. This has increased the sales of solar microinverters, which help in reducing the carbon footprint. Besides this, the rising cost of fossil fuels is making solar power an economical alternative, thereby escalating the demand for microinverters across the country. Moreover, factors such as rapid urbanization, increasing expenditure for the development of solar power infrastructure and the growing utilization of Building-Integrated Photovoltaics (BIPV) have also bolstered the market growth. On account of these factors, the market is expected to continue its robust growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the India solar microinverter market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, connectivity, component, communication channel, type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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