Europe power optimizer market in particular, is expected to record sizable growth from the expansion of the renewable energy sector
Sellbyville, DE -- (SBWIRE) -- 05/17/2019 -- Power Optimizer Market from residential applications will witness a robust growth in the coming years. Net metering, FiT's and government subsidies influenced by the manufacture and integration of advanced optimizer solutions will further enhance penetration of the product. Furthermore, government schemes and rollout plans such as energy efficiency grant to favor roof-top installations in the residential sector will further augment the business outlook.
The residential construction sector has been touted to emerge as an invaluable growth hub for power optimizer market. This can aptly be credited to the escalating number of schemes mandated by regional governments – such as incremental energy efficiency grants to support residential roof-top installations. The product has also gained traction in power optimizer industry on account of the rising influx of new, flexible module designs. Say for example in 2018, GreenBrilliance USA, a solar solution provider launched an AI-based solar power optimizer for residential homes called Neurobotz. As per reports, the system's predictive analytics algorithm generated an optimal load curve and could effectively control the incoming power flow to significantly reduce the amount of electricity consumed in residential zones.
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In the wake of stringent government measures subjugated to FiT's and incentive capping has led to decline in solar installations across European nations. However, through the provision of incentive grants, regulators have continuously been focused towards the integration of distributed energy storage technology besides PV installations. Similar legislative schemes imposed by the European Commission with an objective of sustainable technology integration will drive the power optimizer market.
Stringent government regulations in response to growing environmental concerns to curtail carbon emissions have positively influenced adoption of technologies ensuring energy conservation. Regulatory and operational amendments across eminent power markets supported by technological enhancements associated with product operations, flexibility and efficiency have influenced the industry dynamics positively. Henceforth, prominent technological variations and upgrades favored by manufacturer inclination towards cost competitive product development will augment the global power optimizer market.
Europe power optimizer market in particular, is expected to record sizable growth from the expansion of the renewable energy sector across the continent, which is known for its ongoing renewable energy adoption commitment with a number of nations being world leaders when it comes to fulfilling energy requirements from myriad clean & inextinguishable energy sources. Power optimizers are typically incorporated in solar or wind energy harvesting systems. In solar energy systems, optimizers enable more flexible solar system layouts & designs, with multiple panel tilts, orientations, azimuths & module types.
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Buck convertor market by 2025, is estimated to grow over USD 900 Million. Buck units are DC-DC power convertor that step-down voltage from input to output. The power supply technology is based on switched mode containing one element of energy storage, a capacitor and two semiconductors (diode & transistor, although for synchronous modification, new generation convertors replace diode with transistor), an inductor or a combination of two. Prominent manufacturers with R&D capabilities and technological expertise have been investing continuously to enhance product performance which in turn will boost the power optimizer market growth.
Moreover, the fact that renewable energy is now relatively cheaper than conventional energy sources like coal would further augment the industry growth. A recent global analysis, where over 6,585 coal-fired plants were evaluated, discovered that it is now more affordable to construct new renewable energy plants than running 35% of the world's coal-fired plants. By 2030 that number is expected to increase significantly, with renewable energy defeating 96% of the existing & planned coal-fired plants, making it considerably favorable for the power optimizer market to acquire gains from residential applications. In fact, as per estimates, power optimizer industry size from residential applications is anticipated to record annual installations of more than 10 million unit by 2025.
power optimizer market have been characterized as an effective alternative for module level management and power monitoring, concentrating the MPPT benefits with superior operational efficiencies of string invertors. Additional features that include module shading alleviation, module mismatch resonance and under or over performance operating modules will strengthen the power optimizers market dynamics.
Power optimizers are irrefutably essential in almost all PV panel systems to attain ensure stable performance, particularly in partially shaded environments. Powered by the product's robust deployment across the residential, commercial and utility-scale solar designs and escalating technological advancements, power optimizer market size is likely to cross 30 million units in terms of annual installations by 2025.
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