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IMS Research, a market research company for the electronics industry, has claimed that its figures indicate a more than 40% growth rate in the solar inverter market. The growth is being driven primarily by demand from Germany and Spain, but a slowdown in these two countries could contribute to a slowdown in growth for 2009. Data for this study were obtained from sales figures of leading solar inverter suppliers.
Estimated revenue of more than $2 billion is expected in the industry by 2010, with the three-phase central inverter market expected to perform well over the next five years. This expansion will be a result of installation of an increasing number of large-scale PV plants, and the continued popularity of domestic and small-scale commercial systems.
"By the end of 2008, the global PV inverter market will have more than doubled from its 2006 size," said Research Director, Ash Sharma. "Demand is still very high for solar inverters, however with cuts in tariffs in Germany already agreed and uncertainty in Spain, market growth in 2009 will be very much dependent upon what happens to module pricing."
By Síle Mc Mahon
