The global solar microinverter market reached a value of US$ 231 Million in 2021. Solar microinverters refer to electronic devices used in photovoltaics to convert the direct current (DC) generated by solar panels into alternating current (AC). They function in a parallel circuit and can separate power output from each panel while converting it into grid voltage. Compared to traditional string converters, they are more cost-effective, reliable, safe, and help minimize the risk of fire, produce more electricity, dissipate significantly less heat, operate without noise, and offer excellent design flexibility. Moreover, solar microinverters can maintain a consistent flow of power and maximize power from solar panels through the Maximum Power Point Tracking (MPPT) technology.
As per the analysis by IMARC Group, the top solar microinverter companies are launching innovative and cost-effective product variants to expand their product portfolio and customer base. They are also making heavy investments in research and development (R&D) activities to develop technologically advanced solar microinverters with high-power density, easy installation, and module-level monitoring. In addition to this, several key players are focusing on increasing the usage of Building-Integrated Photovoltaics (BIPV), which involves the integration of PV power generators into the building envelope materials that act as an ancillary or principal source of electrical power. Furthermore, recent technological advancements, such as higher solar PV module efficiencies, favorable government initiatives, new product launches and cost reductions, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 554 Million by 2027, growing at a CAGR of 15.5% during 2022-2027.
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Headquarter: Zürich, Switzerland
ABB Asea Brown Boveri Ltd., formed by the merger between Sweden’s ASEA and Switzerland’s Brown Boveri, became the world’s leading supplier in the $50 billion electric power industry. The company controlled as much as a third of Europe’s business and more than 20 percent of the global market. ABB’s Electrification business provides an extensive portfolio of products, digital solutions, and services, from the substation to the socket, enabling safe, smart, and sustainable electrification. It also offers digital and connected innovations for low- and medium-voltage, such as EV infrastructure, solar inverters, modular substations, distribution automation, power protection, wiring accessories, switchgear, enclosures, and cabling, sensing, and control. Moreover, the company has successfully integrated 850 subsidiary companies and 180,000 employees operating in around 140 countries.
Headquarters: Los Angeles, California
Chilicon Power LLC designs and manufactures grid-interactive inverter systems and monitoring solutions in Southern California. The company has built the world’s highest efficiency 60-cell module inverter. Moreover, it has an extensive product portfolio comprising Microinverter CP-720, Microinverter CP-250E, Cortex Gateway CP-100, Modular Trunk Cabling, and CSIP Aggregator Server CP-1000. Besides this, Chilicon’s power inversion and monitoring system technology maximizes PV system production, lowers installer operational costs, and promotes end-user satisfaction.
Headquarters: California, United States
Enphase Energy Inc. is a leading energy technology company that offers numerous smart solar products, including microinverters, ensemble technology, AC modules, storage, enlighten and apps, envoy and combiner, and accessories that make installations easier. Furthermore, with the launch of Ensemble, which is Enphase’s microgrid-forming software technology embedded in its microinverters, the company now has an energy solution for the masses.
Headquarters: Jiaxing, China
Altenergy Power System, Inc. offers solar microinverter technology for residential and commercial systems. Its microinverter solution combines highly efficient power inversion with user-friendly monitoring to provide reliable and sustainable energy. The company broke new ground with the launch of QS1, a cutting-edge microinverter design accommodating up to 450W+ with independent Maximum Power Point Tracking (MPPT) technology.
Headquarters: Silicon Valley
SunPower Corporation is the world’s first solar company to earn the prestigious Cradle to Cradle Certified™ Bronze designation for their SunPower® Maxeon® panels manufactured in Mexico, France, and the Philippines for environmental stewardship and sustainable manufacturing practices within the facilities. The firm has been leading global solar innovation with more than 750 patents for solar technology. Its product portfolio includes solar cells, flexible panels, solar battery storage, and solar panels. SunPower is the solar energy choice of many homeowners and businesses globally. The company strives to continue to produce panels as clean as the energy they generate.
Headquarters: Taoyuan City, Taiwan
Darfon Electronics Corporation is a global leader in innovative, eco-friendly technologies for green energy solutions, IT peripherals, and passive components. The company’s product lines include Power & Energy Devices, Human Interface Devices, Integrated Components & materials, and Green Devices. It develops reliable and precision products with advanced materials and high-end powder technologies, improving electrical characteristics and performance for high-frequency applications.
Headquarters: Taipei, Taiwan
Delta Electronics, Inc. is a multi-billion-dollar global company that offers power and thermal management solutions. It is the world’s leading producer of power supplies for the top names in industrial, medical, and consumer electronics devices. The company has recently launched compact and lightweight solar inverters that can be easily installed on a range of wall surfaces with maximum profitability and versatility.
Siemens AG is a leading supplier of systems for power generation and transmission and medical diagnosis. It is one of the largest producers of energy-efficient, resource-saving technologies around the world. The company primarily focuses on the areas of electrification, automation, and digitalization. Siemens and its affiliates offer private customers a diverse product portfolio, ranging from electrical installation systems and home automation to security systems and hearing instruments as well as investment funds.
Headquarters: Hatboro, PA
Alencon Systems LLC aims to help utility-scale solar operators harness more of the sun’s energy and lower the Levelized cost of energy (LCOE) generated from a PV plant. Its products feature the advanced PV-IoT software platform called VIEWS that enables utility-scale PV operators to achieve unprecedentedly granular monitoring and virtual reality display of a PV installation to ensure all aspects of the system are running at peak efficiency. When used in combination, Alencon’s DC-DC optimizers, central inverters, and plant monitoring software deliver the utility-scale PV plant topology. The company’s patented Harmonic Neutralization (HN) technology is a breakthrough power inverter technology that allows PV plant operators to drive the economies needed in the utility-scale solar sector. This new approach to inverter design helps break through the AC power-output ceiling found in traditional, utility-scale PV inverters that depend on the pulse-width-modulation (PWM) power conversion method.
Headquarters: Shanghai, China
ReneSola Ltd. is a leading international manufacturer and supplier of green energy products. It has a diversified portfolio of world-class products, including solar panels, inverters, cells, energy storage systems, wires and cables, and solar racking systems, which gives it a competitive edge in global markets. The company is currently focused on enhancing production efficiency, and it is constantly introducing new product lines to provide additional value to its portfolio of green energy offerings. Moreover, ReneSola has expanded into energy storage solutions and energy-efficient lighting, among other product categories.
Headquarter: Suzhou, China
Omnik New Energy Co. Ltd. is an innovative high technology Sino-German joint venture specializing in research and development (R&D), manufacturing, and marketing of photovoltaic (PV) inverters. Its inverters have been highly appraised from home and abroad for their distinguished specifications, stable performance, and a full spectrum of after-sales services.
Headquarters: Taipei City
EnluxSolar Co. Ltd. is one of the leading global manufacturers of microinverters. Unlike traditional inverters, microinverters make system design and implementation simpler and more flexible. From hardware building and software design to after support, the company focuses on offering a more user-friendly microinverter experience to its customers.
Headquarter: Anhui, China
Sungrow Power Supply Co., Ltd develops, manufactures, sells, and provides services for solar PV inverters, wind power converters, and other power supplies. The company aims to be the leading supplier of Solar PV floating bodies and systems with globally leading technology. It owns more than 70 patents for systems, including the floating body, inverter, and booster floating platforms, the matrix anchorage, and system operation and maintenance. Its portfolio comprises the inverter and storage technology and everything to operate these components within the customer’s budget efficiently. The company’s products seamlessly integrate into existing grids in accordance with all standards of certification. Besides this, it offers products and solutions for different latitudes for water installations worldwide. The world’s largest floating PV plant, made by Sungrow, is located at a coal subsidence area in Guqiao town, Fengtai County, China. It reduces Sulfur Dioxide by 1,200 tons and Carbon Dioxide by 150,000 tons every year.
Headquarters: The United States
Sensata Technologies is a leading supplier of sensing, electrical protection, control, and power management solutions. In 2016, the company launched Magnum Energy Microinverter, MicroGT 500, at Solar Power PV Conference & Expo. It is designed with energy storage, works with or without battery-based inverters, and communicates seamlessly with Magnum Energy battery-based inverters when in AC-coupled mode to taper the battery charge based on battery condition. Currently, Sensata has operations and business centers in 11 countries, including China, Japan, Korea, and Malaysia.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the global solar microinverter industry and regional India, United States, Asia Pacific, Europe, and GCC, which has enabled clients to set up and expand their businesses successfully. Some of the company's offerings include:
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