Inverters for Alternative Energy Resources: Worldwide Forecasts

Third Edition

Publication Date	August 2009
Publisher	Darnell
Product Type	Report
Pages	64
ISBN Number	not applicable
Product Code	DAR00020

Buy this product or for assistance call +44 20 7060 7474

PDF £1,685.00$2803 | €1886

FAX Order above formats by FAX

Summary

Led by the growing photovoltaic (PV) market, the outlook for inverters used in alternative energy is expected to remain strong. The worldwide inverter dollar market is projected to increase from $3.4 billion in 2009 to almost $4.8 in 2014, a compound annual growth rate (CAGR) of 7.0%. The worldwide unit market is expected to grow at a somewhat faster pace, increasing from 560 thousand units to over 871 thousand units, a CAGR of 9.2% over the same period. Projected to make up over 95% of the market, the inverters used in PV installations, both small (1-5kW) and large (>6MW), will far outpace those used in either wind or fuel cell applications.

The market forces driving growth in the inverter market will vary by region. In Europe, the primary driving forces are feed-in tariffs, which have been successfully used in 16 EU countries, most notably Germany, Italy and Spain. In fact, in Europe, renewable energy sources comprise the fastest- growing segment of the energy market. In North America, the alternative energy industry is driven by a combination of regulations, subsidies and tax incentives, and legislation. In contrast, Asia and the Rest of the World (ROW) employ a patchwork system of incentives, including subsidies and other government actions. In these regions, the primary focus on alternative energy is the alleviation of power shortages and the development of backup and emergency power.

This report examines inverter applications in three categories: photovoltaics, small wind power and fuel cells. The following pages will look at each application with respect to market size, region and wattage. Given the current economic slowdown, the Darnell Group does not expect consistent growth over the next five years; growth will be slower over the first two years of the period and will return to normal within 24 months. In addition, given the emerging nature of these technologies and their dependence on regulations, regional standards and government policies and programs, the effect on each application will vary, with some applications being more affected than others.

The PV segment is expected to be the single largest driver for the worldwide inverter market. According to the Electric Power Research Institute (EPRI), by 2011 grid-connected PV systems are expected to account for more than 90% of new PV capacity. The PV industry is projected to see an increase in the number of larger commercial and industrial installations. The proliferation of these larger facilities will continue to fuel the need for larger and higher wattage inverter configurations. As a result, the average inverter size for this application will continue to increase.

Despite the attention given to large multi-megawatt wind farms, which are projected to continue growing in both size and number, most of the opportunities for inverter manufacturers are in the small wind turbine market (<100kW). Although the market for wind power inverters is only a fraction of the size (<3%) of the PV dollar market, the small wind market is experiencing a number of significant developments, including the emergence of Building Integrated Wind Energy (BIWE) and the further development of vertical axis wind turbines (VAWTs).
Inverters are the most important power electronics components in fuel cell installations, so their future growth depends on the acceptance of fuel cells as a reliable and efficient technology. Although the smallest of the three applications presented in this report, fuel cells present another potentially important opportunity for inverter manufacturers. Eighty percent of the fuel cell units currently produced serve the stationary market in a number of capacities, including combined heat and power (CHP) applications, distributed generation on-site power and backup power. In spite of this, the worldwide fuel cell inverter market is expected to remain the smallest application over the forecast period.

The wattage forecasts presented are based on the three applications (PV, small wind power and fuel cells) covered in this report. Each particular wattage trend is calculated from both application sales trends and from wattage shifts occurring within each application. The wattage segment projections are divided into the following categories. For photovoltaic and fuel cell applications: <5kW, 5-25kW, 26-100kW, 101-250kW and >250kW. For small wind power applications: <1.0kW, 1-10kW, 11-20kW and 21-100kW.

Over 60 tables and graphs are presented in this report covering the inverter market for three applications and four regions, North America, Europe, Asia and the Rest of the world region (ROW). The focus of this comprehensive analysis will provide decision makers with a detailed and insightful look at the current and future opportunities available in the market for alternative energy resources.

Topics covered include:

Forecasting and Pricing Assumptions
Worldwide Market Overview
Worldwide Application Forecasts
Regional Forecasts for Asia, Europe, North America and Rest of the World (ROW)
Inverter Forecasts by Application
Wattage Forecasts by Application
Alternative Energy Resources Market by Region
Alternative Energy Resources Market by Application

Led by the growing photovoltaic (PV) market, the outlook for inverters used in alternative energy is expected to remain strong.

This report examines inverter applications in three categories: photovoltaics, small wind power and fuel cells. The following pages will look at each application with respect to market size, region and wattage. Given the current economic slowdown, the Darnell Group does not expect consistent growth over the next five years; growth will be slower over the first two years of the period and will return to normal within 24 months. In addition, given the emerging nature of these technologies and their dependence on regulations, regional standards and government policies and programs, the effect on each application will vary, with some applications being more affected than others.

Over 60 tables and graphs are presented in this report covering the inverter market for three applications and four regions, North America, Europe, Asia and the Rest of the world region (ROW). The focus of this comprehensive analysis will provide decision makers with a detailed and insightful look at the current and future opportunities available in the market for alternative energy resources.

Content

Introduction
- Forecast Assumptions
- Pricing Assumptions
- Overview of the Worldwide Inverter Market
- Regional Forecasts
- Europe
- North America
- Asia
- Rest of the World
- Inverter Forecasts by Application
- Photovoltaics
- Wind Power
- Fuel Cells
- Wattage Forecasts by Application
- Photovoltaics
- Wind Power
- Fuel Cells
Appendix A Alternative Energy Resources Market by Region
Appendix B Alternative Energy Resources Market by Application
Disclaimer
Tables
- Table 1 - Worldwide Alternative Energy Resources Inverter Market by Region(absolute units)
- Table 2 - Worldwide Alternative Energy Resources Inverter Market by Region(millions of dollars)
- Table 3a - Worldwide Alternative Energy Resources Inverter Marketby Application (millions of dollars)
- Table 3b - Worldwide Alternative Energy Resources Inverter Marketby Application (millions of dollars)
- Table 3c - Worldwide Alternative Energy Resources Inverter Marketby Application (millions of dollars)
- Table 4a - Worldwide Alternative Energy Resources Inverter Marketby Application (absolute units)
- Table 4b - Worldwide Alternative Energy Resources Inverter Marketby Application (absolute units)
- Table 4c - Worldwide Alternative Energy Resources Inverter Marketby Application (absolute units)
- Table 5a - Worldwide Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 5b - Worldwide Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 5c - Worldwide Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 6 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage (absolute units)
- Table 7 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage (millions of dollars)
- Table 8 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage ($/unit)
- Table 9 - Worldwide Alternative Energy Resources Wind Power Inverter Marketby Wattage (absolute units)
- Table 10 - Worldwide Alternative Energy Resources Wind Power Inverter Marketby Wattage (millions of dollars)
- Table 11 - Worldwide Alternative Energy Resources Wind Power Inverter Marketby Wattage ($/unit)
- Table 12 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (absolute units)
- Table 13 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (millions of dollars)
- Table 14 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage ($/unit)
- Table 15 - Worldwide Alternative Energy PV Inverter Marketby Region ($/unit)
- Table 16 - Worldwide Alternative Energy Wind Power Inverter Marketby Region ($/unit)
- Table 17 - Worldwide Alternative Energy Fuel Cell Inverter Marketby Region ($/unit)
- Table 18 - European Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 19 - North American Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 20 - Asian Alternative Energy Resources Inverter Marketby Application ($/unit)
- Table 21 - Rest of World Alternative Energy Resources Inverter Marketby Application ($/unit)
Graphs
- Graph 1 - Worldwide Alternative Energy Resources Inverter Market by Region (year to year unit growth rates)
- Graph 2 - Worldwide Alternative Energy Resources Inverter Market by Region(millions of dollars)
- Graph 3 - Worldwide Alternative Energy Resources Inverter Market by Region(absolute units)
- Graph 4 - Worldwide Alternative Energy Resources Inverter Market by Region(dollar market share)
- Graph 5 - Worldwide Alternative Energy Resources Inverter Market by Region(unit market share)
- Graph 6 - Worldwide Alternative Energy Resources Inverter Marketby Application (millions of dollars)
- Graph 7 - Worldwide Alternative Energy Resources Inverter Marketby Application (absolute units)
- Graph 8 - Worldwide Alternative Energy Resources Inverter Marketby Application Pricing Trends ($/unit)
- Graph 9 - Worldwide Alternative Energy Resources Inverter Marketby Application (dollar market share)
- Graph 10 - Worldwide Alternative Energy Resources Inverter Marketby Application (unit market share)
- Graph 11 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage Regional Comparison (share of $ sales)
- Graph 12 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage (absolute units)
- Graph 13 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage (millions of dollars)
- Graph 14 - Worldwide Alternative Energy Resources PV Inverter Marketby Wattage Pricing Trends ($/unit)
- Graph 15 - Worldwide Alternative Energy Resources PV Inverter Market byWattage Market Share Comparison(unit vs. dollar size)
- Graph 16 - Worldwide Alternative Energy Resources PV Inverter Market by Wattage Market Share Comparison(unit vs. dollar size)
- Graph 17 - Worldwide Alternative Energy Resources Wind Power Inverter Market by Wattage Regional Comparison (share of $ sales)
- Graph 18 - Worldwide Alternative Energy Resources Wind Power InverterMarket by Wattage (absolute units)
- Graph 19 - Worldwide Alternative Energy Resources Wind Power InverterMarket by Wattage (millions of dollars)
- Graph 20 - Worldwide Alternative Energy Resources Wind Power InverterMarket by Wattage Pricing Trends ($/unit)
- Graph 21 - Worldwide Alternative Energy Resources Wind Power Inverter Market by Wattage Market Share Comparison(unit vs. dollar size)
- Graph 22 - Worldwide Alternative Energy Resources Wind Power Inverter Market by Wattage Market Share Comparison(unit vs. dollar size)
- Graph 23 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage Regional Comparison (share of $ sales)
- Graph 24 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (absolute units)
- Graph 25 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (millions of dollars)
- Graph 26 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage Pricing Trends ($/unit)
- Graph 27 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (unit vs. dollar size)
- Graph 28 - Worldwide Alternative Energy Resources Fuel Cell Inverter Marketby Wattage (unit vs. dollar size)
- Graph 29 - Worldwide Alternative Energy PV Inverter Marketby Region Pricing Trends ($/unit)
- Graph 30 - Worldwide Alternative Energy Wind Power Inverter Marketby Region Pricing Trends ($/unit)
- Graph 31 - Worldwide Alternative Energy Fuel Cell Inverter Marketby Region Pricing Trends ($/unit)
- Graph 32 - European Alternative Energy Resources Inverter Marketby Application Pricing Trends ($/unit)
- Graph 33 - North American Alternative Energy Resources Inverter Marketby Application Pricing Trends ($/unit)
- Graph 34 - Asian Alternative Energy Resources Inverter Marketby Application Pricing Trends ($/unit)
- Graph 35 - Rest of World Alternative Energy Resources Inverter Marketby Application Pricing Trends ($/unit)