IHS sees microinverter shipments at 2.1 GW in 2017
Aug 28, 2013 - Global shipments of microinverters for photovoltaic (PV) systems will hit 2.1 GW in 2017, compared to 500 MW in 2013, and a third of demand will come from commercial projects, IHS (NYSE:IHS) projects.
As competition is growing, prices of the devices keep falling. As a result revenues from the microinverter market will rise to some USD 700 million (523m) in 2017 from USD 250 million in the current year -- an increase that is bit less impressive than the fourfold jump in shipments.
In its new report The World Market for PV Microinverters and Power Optimizers - 2013 Edition, market research firm IHS says that the US will attract around 50% of microinverter shipments in 2017, compared to 72% in 2012. New successful markets for the product will include the UK, France, Japan and Australia.
According to IHS about a third of microinverter shipments worldwide in 2017 will be going to commercial solar installations, compared to only 9% in 2012. In 2013 the US residential solar market is among the most attractive targets for microinverter makers. The report author also pointed out that complete solar modules that integrate microinverters, also called AC modules, will take a 32% share in worldwide microinverter shipments for 2017.