PUBLISHER: Grand View Research | PRODUCT CODE: 1789978
PUBLISHER: Grand View Research | PRODUCT CODE: 1789978
Solar Microinverter Market Summary
The global solar microinverter market size was estimated at USD 3.01 billion in 2024 and is projected to reach USD 8.54 billion by 2030, growing at a CAGR of 18.8% from 2025 to 2030. This market's growth is driven by the increasing adoption of solar energy across residential, commercial, and industrial sectors.
The demand for efficient and reliable solar energy systems has surged as the world shifts towards renewable energy sources to combat climate change and reduce carbon footprints. Microinverters, which convert direct current (DC) generated by solar panels into alternating current (AC) for use in the electrical grid, offer significant advantages over traditional string inverters.
Microinverters improve the overall efficiency of solar energy systems by optimizing the power output of each solar panel. This particularly benefits installations where shading, orientation, or panel mismatches can impact performance. Additionally, microinverters enhance the monitoring capabilities of solar systems, allowing users to track the performance of each panel in real-time, which contributes to more efficient maintenance and troubleshooting.
Increasing investments and supportive policies from governments across the globe are the major factors driving the growth of the solar microinverter market. Many countries are implementing incentives such as tax credits, subsidies, and feed-in tariffs to promote the adoption of solar energy. According to the news published by Citizen Solar in February 2025, the Indian Ministry of New and Renewable Energy (MNRE) has introduced different financial assistance schemes for solar energy usage. In addition, the central government pays around 30% of the installation cost for PV systems as part of the subsidy program. Such policies make solar installations more financially attractive to consumers and businesses, boosting the demand for microinverters.
Advancements in microinverter technology have led to improved reliability, longer lifespans, and cost reductions, making them a more viable option for a wide range of applications. For instance, in May 2025, Enphase Energy, Inc. introduced the user-friendly, plug-and-play Enphase IQ Balcony Solar System in Germany. The innovative design of the inverter enables homeowners and apartment residents with limited roof space to produce clean energy using balconies, patios, and small outdoor areas. In addition, the rising awareness of the benefits of microinverters, such as increased energy yield, enhanced safety, and greater design flexibility, is also contributing to their growing popularity. As the global solar market continues to expand, driven by the need for sustainable energy solutions, the microinverter segment is poised for significant growth in the coming years.
Global Solar Microinverters Market Report Segmentation
This report forecasts revenue growth at global levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global solar microinverters market report based on type, application, power rating, distribution channel, and region.