Solar Charge Controllers Market Highlights
Solar Charge Controllers Market is expected to grow at a CAGR of 6.80% by 2030. Increasing applications in residential solar systems will be the key driver in growth of the Solar charge controllers market during forecast period.
The Solar Charge Controller is the most important component of a solar energy system. It makes it possible for all the other parts to work together and help to reduce the voltage of solar panel. Basic charge controller simply monitors the battery voltage and opens the circuit, stopping the charging, when the battery voltage rises to a certain level. Whereas, modern charge controller lowers the amount of power applied to the batteries, when it is close to get overcharged.
The latest trend gaining momentum in the solar charge controllers market is increasing demand for MPPT charge controllers. The most recent and best type of solar charge controller is called Maximum Power Point Tracking (MPPT). MPPT controllers are basically able to convert excess voltage into amperage.
Solar energy policy is developed by governments to sustain its growth including solar energy production, distribution and consumption. Solar energy policies include legislation, international treaties, and incentives to investment such as the formation incentives in the U.S. In many countries, such as India and EU countries, the policies such as feed-in-tariff (FIT), portfolio standard (RPS), tax credits, pricing laws, production incentives, quota requirements, and trading systems, have been developed and implemented to promote the use of solar energy.
Many industrialized nations have integrated a considerable number of solar power installations with the electrical grids. On the other hand, developing economies are using solar energy to reduce their dependence on fossil fuel-based power generation.
Report Attribute/Metric | Details |
CAGR | 6.80% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Solar Charge Controllers Market Segment Overview:
The global solar charge controller’s market research has been segmented based on the type, end-use industry, and region.
Based on Type
Based on the type, the solar charge controllers market is segmented into PWM (Pulse-Width Modulation) charge controller and MPPT (Maximum Power Point Tracking) charge controller.
Read More@ https://www.marketresearchfuture.com/reports/solar-charge-controllers-market-4280
Based on Region
The solar charge controllers market based on the region is segmented into four regions like North America, Europe, Asia-Pacific, and the rest of the world. Among the other regions, the Asia-Pacific region dominates the highest market share for the solar charge controller’s market outlook. It is followed by the Middle East and Africa, and America.
Based on End-use Industry
The solar charge controllers market revenue is segmented into residential and non-residential.
Key Players:
The prominent players in the solar charge controllers are Genasun (Italy), Luminous India (India), Microtek (China), Schneider Electric (France), Su-Kam Power Systems (India), Arise India (India), Delta Electronics (India), Sungrow Power Supply Co., Ltd (China), Victron Energy (Netherlands) and Beijing Epsolar Technology Co., Ltd (China).
