The evolution of module-level power electronics (MLPE) will lead to lower costs and better operations of solar voltaics, according to a report from Frost & Sullivan.
MLPE refers to the inverters that convert direct current created by solar panels into more useful alternating current. There are three types: string or centralized inverters, micro-inverters and power optimizes, according to Energy Sage.
Frost & Sullivan says that the MLPE sector is in “an intense growth phase” and will expand from $648.7 million last year to $1.16 billion in 2021, which is a compound annual growth rate (CAGR) of 12.4 percent. The drivers are increasing solar installations worldwide, the modernization of grid infrastructure capable of supporting MLPE technology, renewable energy targets and government regulations, the press release says.
Future Market Insights released a report last month that included a good explanation of the MLPE approach.
Unlike conventional string/central inverters, a micro inverter works on Module Level Power Electronics i.e. power conversion takes place at individual module level. This mitigates the negative effect of module mismatch and improves the overall efficiency of the system. Micro inverters also enable module level monitoring, easier installation, enhanced design flexibility and better safety than conventional inverters.
The firm says that the U.S. market was valued at $488.2 million at the end of last year and will grow at a 16.6 percent CAGR from then until 2026.