New IMS Research report predicts ‘smart’ PV inverter shipments to reach 27GW in 2015

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

IMS Research has published a new report, “The World Market for PV Inverters”, which projects that ‘smart’ PV inverter shipments in 2015 will reach 27GW, comprising 60% of the market, compared to 20% in 2010. The report predicts that the long-term outlook for the PV inverter industry has an encouraging future with smart invertors making up the majority of the market by 2014 and Europe providing the most demand.

Several factors have led IMS to conclude  that the market demand in 2015 will reach 27GW including utility concerns over grid imbalances, the expanding proportion of PV connected to the grid and the need for energy storage to utilize self-consumption tariffs in order to better integrate PV into the ‘smart grid’. As reactive power, smart grid interaction and energy storage pave the way for inverters to become a fundamental part of the grid infrastructure, the PV inverter market is expected to feel the demand increase over the next five years.

Tom Haddon a PV research analyst at IMS Research explained, “Utilities, especially in Europe, are increasingly pushing for inverters to assist in grid stabilization and conform to stricter technical requirements.” This thinking has led IMS research to hypothesize that smart inverters will represent 80% of the EMEA market in 2015. Haddon continued, “Despite this, most inverter shipments will still not be ‘fully smart’ and will only have reactive power capabilities, rather than full smart grid interaction or energy storage.”

Not too surprisingly, IMS points out that Germany is spearheading the assimilation of PV into the grid with new low- and medium-voltage directives, while fellow European countries are likely to follow Germany’s example. As directives are fully enforced, IMS Research foresees standard inverters falling to only 42% of the global shipments by 2015.

“Reactive power is an essential feature for inverters to carry if PV is to be a substantial part of the energy mix to provide local grid control which is why the German authorities have acted first to implement such codes,” Haddon added.

IMS additionally noted that inverters are increasingly becoming combined with energy storage, leading the researchers to believe that over the next four years, nearly 5% of all PV inverters shipped will have a form of energy storage, such as batteries, to help power loads throughout the day. IMS Research points out however, that this scenario will only be realized if cost is reduced, and quickly at that, while efficiency and reliability are improved so that customers more readily accept the new trend.

“Demand for PV inverters with energy storage will most likely be driven by incentives favoring ‘self-consumption’; however, current solutions, relying on lithium ion batteries, are currently too expensive and need to be reduced considerably before they will be deployed more widely,” Haddon concluded.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
6 October 2021
Join this free webinar to hear Martin Green, Scientia Professor, University of New South Wales explain the physical and technological limits for PERC cells and the potential efficiency advantages of TOPCon, HJT and IBC: - How much further can PERC efficiency be pushed? Has it run out of puff or is it just getting started? - The relative merits of TOPCon, HJT and IBC cell variants - The manufacturing technologies that need to be optimised for each of these cell variants (This is the keynote presentation from PV CellTech Online, 25th August 2021)
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 28, 2021
Renewables developer and asset manager RES has secured planning permission for a 65.5MW floating solar project that will be installed at a former quarry in northeastern France.
September 28, 2021
Investment manager Quinbrook Infrastructure Partners has acquired a 350MW solar-plus-storage site expected to be the largest single site PV install in the UK once completed.
September 28, 2021
Oil and gas company Chariot has signed a memorandum of understanding with the government of Mauritania to progress with a solar- and wind-powered green hydrogen complex in the country.
PV Tech Premium
September 28, 2021
Toni Weigl, head of product management for floating PV at BayWa r.e., explores the current trends for designing and developing floating solar projects and poses the question, where next for floating PV?
September 28, 2021
The Australian Renewable Energy Agency (ARENA) has launched an AU$50 million (US$36 million) programme to support microgrid pilot projects and improve the reliability of electricity supply across regional Australia.
September 28, 2021
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021