Residential Solar PV Inverter Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The residential solar pv inverter market size has grown strongly in recent years. It will grow from $5 billion in 2024 to $5.44 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to electricity price trends, global economic conditions, consumer education initiatives, and market liberalization and competition.

The residential solar pv inverter market size is expected to see strong growth in the next few years. It will grow to $7.13 billion in 2029 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to rising energy independence concerns, energy storage integration, consumer awareness and education, and smart home integration. Major trends in the forecast period include technological advancements, smart inverter technology, hybrid solar inverter systems, and increased system integration.

The rising demand for renewable energy is expected to propel the growth of the residential solar PV inverter market going forward. Renewable energy refers to sustainable and environmentally friendly sources of power, such as solar, wind, hydro, and geothermal, that are naturally replenished. Solar PV inverters are essential for renewable energy systems, converting DC electricity into AC electricity, maximizing energy production, ensuring system safety, and providing system monitoring and management capabilities. For instance, in January 2024, according to the International Energy Agency, a France-based government agency, renewable electricity capacity additions reached an estimated 507 GW in 2023, almost 50% higher than in 2022, with solar PV and wind accounting for a record 96% of it. Therefore, the rising demand for renewable energy is driving the growth of the residential solar PV inverter market.

Major companies operating in the residential solar PV inverter market are developing technologically advanced solutions, such as advanced power hybrid inverters, to drive their revenues in the market. An advanced power hybrid inverter combines the functions of a solar inverter and a battery charger. It is designed to manage power coming from solar panels, solar batteries, and the utility grid simultaneously. For instance, in April 2023, Ginlong (Solis) Technologies, a China-based manufacturer and distributor of solar inverters, launched its new S6 Advanced Power Hybrid Inverter for South Africa, an advanced residential solar PV inverter with a maximum efficiency of 97.6%, that is designed to work as an independent power center, targeting various businesses that are interconnecting solar PV, generator options, and battery storage to the grid. The Solis S6 Advanced Power Hybrid Inverter facilitates the seamless integration of generators with various input modalities and automatic on or off control through improved communication and control capabilities. The inverter has four models, allowing for PV input power from 42 kW to 70 kW and a maximum total load of 48 kW, with a maximum input voltage of 1000 V.

In February 2022, Intelbras, a Brazil-based communications equipment and technology developer company, acquired Renovigi Energy Solar for an undisclosed amount. This acquisition aims to consolidate Intelbras as a reference company in the solar energy market, expand the distributed generation of clean and sustainable energy, and accelerate the process of creating a greener Brazil. Renovigi Energia Solar is a Brazil-based producer of solar photovoltaic (PV) inverters for residential uses.

Major companies operating in the residential solar PV inverter market are Huawei Technologies Co. Ltd., Siemens Aktiengesellschaft (AG), General Electric Company, Panasonic Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Eaton Corporation, Emerson Electric Co., Delta Electronics Inc., Sungrow Power Supply Co. Ltd., Canadian Solar Inc., GoodWe Technologies Co. Ltd., Omron Corporation, Yaskawa Solectria Solar, Solar Edge Technologies Inc., Enphase Energy Inc., SunPower Corporation, Ginlong Technologies Co. Ltd., SMA Solar Technology AG, Darfon Electronics Corp., Power Electronics S.L, Fronius International GmbH, Hitachi Hi-Rel Power Electronics Private Limited, Altenergy Power System Inc., Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), Sineng Electric Co. Ltd., Fimer Group S.p.A, Refu Elektronik GmbH.

Asia-Pacific was the largest region in the residential solar PV inverter market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the residential solar pv inverter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the residential solar pv inverter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The residential solar PV inverter market consists of sales of battery inverters, grid-tied inverters, smart inverters, and communication and monitoring systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A residential solar PV inverter is a device that converts direct current (DC) electricity generated by solar panels into alternating current (AC) electricity for use in homes, facilitating the integration of solar power into residential energy systems. Solar inverters play a crucial role in solar power systems by maximizing the available energy, communicating with the national grid, and providing feedback about power production.

The main types of residential solar PV inverters are central inverters, string inverters, and micro-inverters. A central inverter is a device that converts direct current (DC) electricity generated by multiple solar panels into alternating current (AC) for use in homes or businesses. Various types of connections included are on-grid and off-grid, which are used for several applications, such as single-phase and three-phase. These are used by several end-users, including residential, commercial, and utilities.

The main types of residential solar PV inverters are central inverters, string inverters, and micro-inverters. A central inverter is a device that converts direct current (DC) electricity generated by multiple solar panels into alternating current (AC) for use in homes or businesses. Various types of connections included are on-grid and off-grid, which are used for several applications, such as single-phase and three-phase. These are used by several end-users, including residential, commercial, and utilities.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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