Global Increase in Solar Power Optimer Usage Drives Energy Efficiency

The Relentless Growth in Solar Power Optimisers

The global market for solar power optimisers has experienced significant growth in recent years, driven by the increasing adoption of solar photovoltaic (PV) systems and the demand for enhanced energy generation efficiency.

In 2023, the power optimizer market was valued at approximately £1.5 billion and is projected to grow at a compound annual growth rate (CAGR) of around 12% from 2024 to 2032. This growth is attributed to the global shift towards renewable energy sources, leading to a surge in the installation of solar PV systems.

In traditional, non-optimised solar PV systems, if one or more of the PV modules in a system suffers a reduction in performance – e.g. due to shading, dirt, attenuation or other factors – then it drags down the performance of the modules to which it is connected and the performance of the entire system can be impacted, often significantly.

Solar power optimisers maximise the energy harvest from solar PV systems by performing maximum power point tracking (MPPT) at the individual PV module level.

Each optimiser makes real time adjustments to the PV module it is managing to ensure that each one continues to operate at its own optimal level, irrespective of the performance of its neighbours – and this approach has been proven to deliver up to 30% improvement in overall system-wide energy generation performance

The global market for solar power optimisers has experienced significant growth in recent years, driven by the increasing adoption of solar photovoltaic (PV) systems and the demand for enhanced energy generation efficiency.

The Relentless Growth in Solar Power Optimisers

Solar Power Optimisers - Market Size and Growth

The global market for solar power optimizers has experienced significant growth, driven by the increasing adoption of solar photovoltaic (PV) systems and the demand for enhanced energy efficiency. Power optimizers are DC-DC converters that maximise the energy harvest from solar PV systems by individually tuning the performance of each module.

In 2023, the power optimizer market was valued at approximately £1.5 billion and is projected to grow at a compound annual growth rate (CAGR) of around 12% from 2024 to 2032. This growth is attributed to the global shift towards renewable energy sources, leading to a surge in the installation of solar PV systems.

The broader market encompassing both solar power optimisers and microinverters reached £3.5 billion in 2023, with expectations to observe a CAGR of around 13% from 2024 to 2032.

This indicates a robust, increasing demand for technologies that enhance solar energy harvest, system reliability, and monitoring capabilities.

Leading Solar Power Optimiser Manufacturers and Market Share

The solar power optimiser market is on an upward trajectory, propelled by the increasing deployment of solar PV systems and the need for optimised energy production. Leading companies like SolarEdge, Tigo, and SUNGO Energy are at the forefront, offering innovative solutions to meet the evolving demands of the renewable energy sector.

Advancements in technology, increasing adoption of solar PV systems, and supportive government policies are expected to further propel market growth in the coming years.

Among the key players dominating the global solar power optimiser market are:

> SolarEdge Technologies: One of the first companies to enter the power optimiser sector, SolarEdge is an Israeli company and offers a comprehensive system combining optimisers with inverters and monitoring platforms. Their solutions have been widely adopted globally, and have given it a significant market share. SolarEdge Optimisers are at the high-end of optimiser pricing and they are built on closed architecture, so can only be used with SolaEdge optimisers, making their product offering less flexible than others.

> Tigo Energy: Tigo Energy is a private American corporation, with its headquarters in Campbell, California, and provides more flexible module-level power electronics solutions, including solar power optimisers that can be paired with third-party inverters. Their emphasis on versatility and retro-fit capabilities has garnered them a substantial presence in the market. Tigo Optimisers are generally priced in the mid/high range.

> SUNGO Energy: Established in 2016, SUNGO Energy manufactures universally compatible smart solar power optimisers with advanced rapid shutdown capabilities, along with battery energy storage systems (BESS) and monitoring solutions. It is headquartered in Suzhou in China and is a dominant player in Asia, with over 2GW of solar optimiser capacity installed. SUNGO has recently expanded its global footprint with offices in Japan, the EU, the USA and now the UK. SUNGO Energy’s solar optimisers are recognised for their high quality/performance and advanced Rapid Shutdown, as well as very competitive pricing.

While specific market share percentages for these companies are not detailed in the available sources, SolarEdge and Tigo Energy are widely recognised as prominent players in the industry, especially in the West. SUNGO Energy has traditionally focussed on its massive home market in China until recently, but is actively expanding its global market presence.

Conclusion

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About SUNGO Energy

SUNGO Energy was established in 2016 and is global manufacturer of Smart Solar Power Optimisers with Rapid Shutdown, Battery Energy Storage Systems (BESS/ESS), Remote PV Solar System Performance Optimisation & Monitoring solutions and related products.

SUNGO Energy has its worldwide headquarters in Suzhou, China (near Shanghai), supported by SUNGO Energy offices in the UK, EU, Japan and the USA, with a global network of distributors and partner organisations.

Please download the SUNGO Energy company overview and/or Contact Us to learn more.

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