Solar Charge Controllers Market: New Business Opportunities, Emerging Trends, CoPosted by Jitendra Magar on December 26th, 2017 Market research future published a raw research report on Global Solar Charge Controllers Market that contains the information from 2017 to 2023. The global Solar Charge Controllers market revenue is forecast to grow at approximately 15.02 % CAGR in the forecast period.
Market Highlights 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 charge controllers also called as solar regulators. It is applied on 12V batteries, because this voltage is most commonly used in isolated solar systems. Over the past few years, usage of solar power utilization is increased significantly and is expected to grow rapidly in the coming years. As cleanest and more sustainable energy, solar energy system is familiar with a wide variety of applications like domestic, commercial and industrial applications. MRFR analyst predict that the Global Solar Charge Controllers Market will grow steadily during the forecast period and post a CAGR of around 15.02% by 2023.
Key players in the global solar charger controllers market are
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Market Research Future Analysis: Market Research Future analysis show that the global market of solar charge controllers market is estimated to grow at CAGR of 15.02 % by the end of the forecast period. 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.
Asia pacific will be the largest market Asia-Pacific is one of the largest markets for solar charge controllers in the world. There is an increasing demand for energy because of the growing population and rising disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. Solar energy is identified as the best replacement to other conventional fossil fuel energy sources and is used to reduce carbon emission by effectively meeting the electricity needs. Like it? Share it! More by this author |