According to the Graphical Research new growth forecast report titled “Europe Power Optimizer Market Size By Connectivity (Standalone, On-grid), By Converter (Buck, Boost, Buck-Boost), By Application (Residential, Commercial, Utility), By End Use (Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components), Industry Analysis Report, Country Outlook (UK, France, Netherlands, Italy, Germany, Sweden, Russia, Spain), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”, to Broaden during 2020-2026.
Europe Power Optimizer Market value will witness a considerable growth on account of operational and regulatory restructuring of various power markets in line with extensive technological development. Power optimizers in the current years have emerged as fundamental component across all contemporary solar power plants. Rising need to counter the increased electricity demand owing to rapid population growth will complement the product deployment. Moreover, suitable regulatory norms in conjunction with upgradation in manufacturing practices for better efficiency, product operation and flexibility will encourage the product demand.
Robust development and extension of solar plants driven by suitable availability of incentive schemes is set to expand the on-grid solar deployments. Distorted trade on account of COVID-19 virus spread may hamper the industry growth subjected to the persistent transportation impediments. However, introduction of portfolio standards, green bonds, clean energy drives and renewable certificates based on electricity generated from a renewable source will encourage the product deployment.
Government mandates in line with legally binding energy efficiency directive and COP21 agreement is set to stimulate the large-scale utility and industry-based power optimizer market. In addition, shifting industry inclination toward integration of technically advanced monitoring units in order to evaluate plant performance in conjunction with mounting pressure to reduce fossil fuel dependency will fuel the industry growth.
Ability to facilitate profitable operations owing to deployment of Real-Time Optimization (RTO) tools and advanced controls will propel the applicability of these units across advanced power line communications. Furthermore, operational flexibility, reduced operating costs and increased profitability by improving throughput & yield are some key factors driving the business outlook.
Capping of incentives and feed-in tariffs in recent years may hamper solar deployments across the European countries. However, the European Commission has initiated several policies with an overarching aim of supporting integration of renewables across the region. For instance, in 2019, European commission initiated a Green Deal which comprises of policies focused at making Europe climate neutral by the end of 2050. Furthermore, simplified duty drawback schemes, economical costs and availability of investment funds will fuel the Germany power optimizer market growth.
Manufacturers functioning across the Europe Power Optimizer Market are focused at availing products to their customers with environmental compatibility, improved functions and power output. Eminent players are providing significant variations and unit upgrades along with cost-competitiveness in order to sustain their market position. Key industry participants working in the industry includes SMA Solar Technology, SolarEdge, Altenergy Power System, Tigo Energy, Huawei Technologies, Ampt, Maxim Integrated, Darfon Electronics Corp, ABB and Texas Instruments.