IHS Markit expects global market for AC, smart PV Modules to reach almost USD 500 million by 2020

IHS Markit expects the market for smart and AC PV modules to almost quintuple by 2020
IHS Markit expects the market for smart and AC PV modules to almost quintuple by 2020

The business model of solar photovoltaic (PV) micro-inverter and power optimizer suppliers is set to shift from standalone units to integrated systems, such as Smart and AC modules, according to new analysis released today by IHS Markit (London, UK).

The annual “IHS Technology PV Microinverter and Power Optimizer Report” forecasts revenue for Smart and AC modules will jump from under USD 100 million in 2015 to almost USD 500 million by 2020.

“Suppliers are shifting their business model from selling stand-alone products to selling an off-the-shelf integrated model,” said Cormac Gilligan, research manager at IHS Technology.

“This will help them capture new emerging markets, improve sales channel efficiencies and lower customer costs.”

Micro-inverters and power optimizers will increasingly be installed in the factory in the form of AC and Smart Modules, the IHS Technology report finds.

“Purchasing one unit is more attractive for customers than purchasing multiple parts and installing them one by one, and the market is adapting to that demand,” Gilligan added.

 

Global trends and adoption drivers

The United States is the top market for micro-inverters and power optimizers, but Asian and European markets such as China, Japan, Australia, Germany, France and the Netherlands are forecast to experience strong demand over the next five years.

The market for Smart and AC modules will grow from less than 200 MW in 2015 to over 4 GW in 2020 as integrated products become favored in the global market, IHS Technology predicts.

 

2016-11-07 | Courtesy: IHS Markit | solarserver.com © Heindl Server GmbH

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