Date : June 01, 2015
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The total installed capacity of the Indian PV Inverter Market to acquire around 4% of the global installed capacity by 2022: Bonafide Research

The total installed capacity of the Indian PV Inverter Market to acquire around 4% of the global installed capacity by 2022: Bonafide Research

Increased government support, shift of the inverter market to solar, promoting usage of PV, increasing availability of the raw materials and the innovation in technology will let the total installation to increase in India.


According to recently published report of Bonafide Research "India PV Inverter Market Overview, 2027-28" the solar inverters are one of the major parts of the solar power market in general. So if the total global installed capacity of the solar PV is on an increasing trend, the solar inverter is also expected on an increasing graph. The total installed capacity is forecasted to reach a close to 100 GW by 2021.


The pricing of the inverter is continuously decreasing and the installed capacity is increasing year by year. The inverter demand in India has increased due to power shortages and a strong push from the ministry of new and renewable energy (MNRE) and the government through national solar mission. Now, some state governments and bodies are coming forth to install solar inverters for more reliable backups. Solar inverter performs the conversion of the variable DC output of the Photovoltaic (PV) module into a clean sinusoidal 50 or 60 Hz AC current that is then applied directly to the commercial electrical grid or to a local, off-grid electrical network. Strategic focus is required for standalone inverters section development first for Indian context.


 Photovoltaic inverters become more and more widespread within both private and commercial circles. These grid-connected inverters convert the available direct current supplied by the PV panels and feed it into the utility grid. According to the our report on installed PV power, during 2014, there has been a total of 44 GW of installed PV systems in the world out of which the majority (35.8%) has been installed in Germany. So eventually Germany stand as the global leader in the PV Inverter market as well as PV Inverter comes out be an important part of the PV systems .The factors such as decreasing Feed-in–tariffs, increasing government support, companies willing to go into solar business and the expected drop in the prices of inverters will lead to the increasing market installed capacity of solar inverter in India. The total installed capacity is expected to increase with a CAGR greater than that of the global CAGR which is almost double the growth as that of now.

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The total installed capacity of the Indian PV Inverter Market to acquire around 4% of the global installed capacity by 2022: Bonafide Research

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