Solar Inverter Market Trends, Size, Share, Growth Opportunities 2029

Solar Inverter Market size was valued at US$ 12.79 Bn. in 2022 and the total revenue is expected to grow at 5.78% of CAGR from 2023 to 2029, reaching nearly US$ 18.96 Bn.
Solar Inverter Market Overview:

An essential component of the solar system, the solar inverter transforms the DC power coming from the solar panels into AC power. In addition to converting power, solar inverters track voltage, permit communication with the grid, & shut down in emergencies. As a result, greater use of on-grid solar inverters protects the security and effectiveness of home appliances. On-grid solar inverters produce a pure sine wave of AC electricity as opposed to off-grid inverters. Most frequently utilized in residential and utility applications, solar inverters are also being employed more frequently worldwide in commercial & industrial projects.