Inverter Photovoltaic Material Enterprise

What is a photovoltaic inverter?

A photovoltaic inverter, referred to as a solar inverter, is an essential device in a solar energy system. It converts DC (direct current) power generated by solar panels into AC (alternating current) power, which is compatible with standard electrical systems used across homes, businesses, and industries.

How pvbl ranked the top 20 global photovoltaic inverter brands in 2023?

On the first day of the conference, PVBL’s annual ranking of the Top 20 Global Photovoltaic Inverter Brands was announced. Preferential policies promoted the inverter market growth in 2023. Most of the major inverter companies won a large amount of orders and expanded their capacity with high shipment volume.

What is a residential PV inverter?

Residential PV inverter market in the recent years have gained a significant momentum. These inverters are designed for homes and small-scale solar installations. They focus on user-friendliness, aesthetics, and integration with home energy management systems.

What is string PV inverter market?

String PV inverter market dominated around USD 13.9 billion revenue in 2022. String inverters, which process the DC electricity from multiple solar panels in a string have been competing in the market. It offers advantages in terms of flexibility and shading tolerance, while central inverters may be more cost-effective for larger installations.

How did the PV inverter market perform in 2022?

Overall, global PV inverter shipments saw 48% growth year-over-year in 2022, with an additional 100 GW shipped from 2021. In 2022, the PV inverter industry saw a renewed increase in shipments as the pandemic-related semiconductor chip shortage improved. Huawei and Sungrow covered 52% of the market cumulatively - an increase from 44% in 2021.

How big is PV inverter market?

Standalone PV inverter market is anticipated to reach USD 13.7 billion by 2032, on the account of its utilization in remote areas, rural electrification projects, and off-grid applications such as water pumping, telecommunications, and remote cabins.