North America Power Optimizer Market Size & Forecast, 2028

North America Power Optimizer Market Size, Share & Industry Trends Analysis Report By Connectivity (On-grid and Standalone), By Application (Utility, Commercial and Residential), By End Use, By Country and Growth Forecast, 2022 - 2028

Published Date: July-2022 | Number of Pages: 70 | Format: PDF | Report ID: KBV-19324

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Market Report Description

The North America Power Optimizer Market would witness market growth of 9.7% CAGR during the forecast period (2022-2028).

The power imbalance between PV modules in a string can result in a dramatic and excessive loss of power from the whole solar array due to their sequential wiring, and in rare situations, can cause the entire system to fail. In some cases, shading of as little as 9% of a PV system's total surface array might result in a 54% loss of power throughout the entire array.

Even the slightest variations in panel performance owing to dirt, differential age, or minute variances during manufacturing can cause the array as a whole to operate outside of its optimal MPPT point, a problem that is particularly noticeable with big occurrences like a passing shadow. The process of panel matching is crucial to the design of solar arrays. In essence, power optimizers are DC-DC converters that take the DC power from solar panels at the optimum possible voltage and current (through MPPT), then change it to a different voltage and current that is best suited for the central or string inverter.

The adoption of solar energy storage as a virtual power plant and increased investments in renewable energy technology are propelling the rise of DC optimizers in the United States. The United States lies under the top countries for renewable energy investment. Large-scale funding from both public and private investors will have a positive effect on the uptake of solar power. For instance, Natural Resources Canada introduced a USD 964 million program for grid modernization and clever deployment of renewable energy projects in June 2021. Additionally, substantial government subsidies and falling input costs will promote market expansion.

The US market dominated the North America Power Optimizer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,067.2 million by 2028. The Canada market is poised to grow at a CAGR of 12.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.2% during (2022 - 2028).

Based on Connectivity, the market is segmented into On-grid and Standalone. Based on Application, the market is segmented into Utility, Commercial and Residential. Based on End Use, the market is segmented into Module Level MPPT, Advanced Power Line Communication, Monitoring Components, Safety Shutdown Components and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

Free Valuable Insights: The Global Power Optimizer Market is Estimated to reach $5.2 Billion by 2028, at a CAGR of 10.4%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., SunPower Corporation, KACO new energy GmbH, Alencon Systems, LLC, SolarEdge Technologies, Inc., Enphase Energy, Inc., Tigo Energy, Inc., Altenergy Power System, Inc., Solantro Semiconductor Corp., and Sparq Systems Inc.

Scope of the Study

Market Segments Covered in the Report:

By Connectivity

  • On-grid
  • Standalone

By Application

  • Utility
  • Commercial
  • Residential

By End Use

  • Module Level MPPT
  • Advanced Power Line Communication
  • Monitoring Components
  • Safety Shutdown Components
  • Others

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America

Key Market Players

List of Companies Profiled in the Report:

  • Delta Electronics, Inc.
  • SunPower Corporation
  • KACO new energy GmbH
  • Alencon Systems, LLC
  • SolarEdge Technologies, Inc.
  • Enphase Energy, Inc.
  • Tigo Energy, Inc.
  • Altenergy Power System, Inc.
  • Solantro Semiconductor Corp.
  • Sparq Systems Inc.

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Related Reports:

Global Power Optimizer Market Report 2022-2028

Europe Power Optimizer Market Report 2022-2028

Asia Pacific Power Optimizer Market Report 2022-2028

LAMEA Power Optimizer Market Report 2022-2028

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