Photovoltaic Off-grid Inverter is a critical component of a standalone solar power system. It converts the direct current (DC) electricity produced by solar panels into alternating current (AC) electricity suitable for powering household appliances, electronics and other devices. When selecting a PV off-grid inverter, it's important to consider factors such as the power requirements of your loads, the battery bank capacity, the efficiency of the inverter, and any specific features or functionalities you may need.

The demand for electricity is continuously rising due to population growth, urbanization, and industrial development. Photovoltaic off-grid inverters offer a reliable and sustainable solution for meeting energy needs in remote areas, off-grid locations, and regions with unreliable grid infrastructure. Rapid growth of Photovoltaic Off-grid Inverter has been driven by a combination of increasing demand for off-grid power solutions, decreasing costs, environmental concerns, and improved product performance has been the driving force behind the rapid growth of Photovoltaic Off-grid Inverter Market.

The report “Photovoltaic Off-grid Inverter Market, By Technology (Micro, String, and Central), By Application (Residential, Commercial, Utility, and Others), By Product (Off-Grid and Standalone), By End-User (E-Commerce, Automotive, Travels & Tours, Multinationals, and Marine and Aerospace), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

 Key Highlights:

• In January 2023, Growatt launched new Photovoltaic (PV) Inverter “SPF 6000 ES Plus” for Off-Grid applications. The inverter includes dual maximum power point trackers for houses with multiple rooftop areas, supporting panel installation at different orientations and higher energy generation. The inverter is compatible with large power PV modules that produce 500 W or more since its string input current may reach up to 16A.
• In April 2023, GSL Energy launched all in one battery inverters for off-grid applications with 10 kWh and 20 kWh of storage space. The inverters maximum charging and discharging current according to the company is 80 A. A firm representative told PV magazine, "Our new product utilizes digital signal processor (DSP) control and an innovative control algorithm, with high response speed and high dependability.
• In December 2022, Growatt launched inverters for residential off-grid PV systems. The inverter provides up to 500 V of input voltage, 12,000 VA of surge power, and 8 kW of PV input capacity. It has a 93% efficiency rating. On reducing consumers' dependency on pricey and environmentally damaging alternatives like diesel generators during the night and power outages, these solar off-grid solutions allow them to obtain sustainable electricity. These solar off-grid solutions are charged throughout the day.

Analyst View:

Governments all around the world are pushing for the use of renewable energy sources and putting in place beneficial laws and incentives. These initiatives, which promote the use of solar off-grid systems, include tax credits, subsidies, feed-in tariffs, and net metering programs. The market will grow as a result of this government assistance, which will increase consumer interest in these systems on a financial level. Ongoing research and development efforts are focused on improving the efficiency and performance of photovoltaic off-grid inverters. This includes advancements in solar panel efficiency, energy storage capacity and inverter technology. As these technologies evolve, the market for Photovoltaic Off-Grid Inverter is likely to expand in future. 

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Photovoltaic Off-grid Inverter Market, By Technology (Micro, String, and Central), By Application (Residential, Commercial, Utility, and Others), By Product (Off-Grid and Standalone), By End-User (E-Commerce, Automotive, Travels & Tours, Multinationals, and Marine and Aerospace), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

Key Market Insights from the report:

Photovoltaic Off-grid Inverter Market accounted for US$ 2.97 Billion in 2024 and is estimated to be US$ 6.1 Billion by 2034 and is anticipated to register a CAGR of 7.50%. Photovoltaic Off-grid Inverter Market is segmented based on Technology, Application, Product, End-User and Region.

• Based on Technology, Photovoltaic Off-grid Inverter Market is segmented into Micro, String, and Central.
• Based on Application, Photovoltaic Off-grid Inverter Market is segmented into Residential, Commercial, Utility, and Others.
• Based on Product, Photovoltaic Off-grid Inverter Market is segmented into Off-Grid and Standalone.
• Based on End-User, Photovoltaic Off-grid Inverter Market is segmented into E-Commerce, Automotive, Travels & Tours, Multinationals, and Marine and Aerospace.
• By Region, the Photovoltaic Off-grid Inverter Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Photovoltaic Off-grid Inverter Market:

The prominent players operating in the Photovoltaic Off-grid Inverter Market includes, Mitsubishi Electric Corp., ABB Ltd., Enphase Energy, Inc., KACO New Energy, Inc., Growatt New Energy Technology, Inc., Sungrow Power Supply Co., Ltd., Tabuchi Electric Co., Fronius International GmbH, SMA Solar Technology AG, Advanced Energy Industries, Inc., Schneider Electric, Inc. and others.

To know more

Contact Us:

Sales

Prophecy Market Insights

U.S: 1 860 531 2574

RoW: 91 7775049802

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com