US Solar Inverter Market Size
The US solar inverter market size was valued at USD 1,121.5 million in 2024 and is expected to reach USD 3,018.2 million by 2033, at a CAGR of 11.52% during the forecast period 2024-2033.
US Solar Inverter Market Overview
A solar inverter is a device that converts the direct current (DC) electricity, which is what a solar panel generates, to alternating current (AC) electricity, which the electrical grid uses. The government’s growing emphasis and increasing awareness about renewable energies across the US are boosting the installation of solar panels due to limited conventional energy resources. The growing installation of solar panels is boosting the demand for continuous power supply, thereby driving the demand for solar inverters.
Various factors, such as growing demand for environmentally friendly and sustainable energy solutions, increasing investment in the renewable energy sector, increasing supportive policies, growing electricity demand, and growing installations of solar panels on the residential and commercial infrastructure, are mainly driving the market growth of the US solar inverter market.
During the forecast period, we expect the growing US government investment in solar energy generation to fuel market growth. For instance, with President Biden’s Investing in America agenda, the US Department of Energy announced a USD 71 million investment in the solar energy supply chain. Thus, such investments are creating the conducive business environment for the US solar inverter market.
However, factors such as less adoption in many states, high installation and maintenance costs of the solar inverter, lack of skilled expertise, and side effects of the DC current are mainly restraining the market growth of the US solar inverter market.
The key players operating in the market are heavily investing in technological innovations, new product development, and research and development activities to increase the production and energy efficiency of solar inverters. Various technological innovations, such as battery material improvements, integration of AI in the solar inverter, usage of durable and sustainable material in the solar material in the solar inverter manufacturing, and automated and smart solar inverters, are expected to create lucrative opportunities for the market during the forecast period.
The US solar inverter market is segmented by type, by system type, by application, by phase, by distribution channel, and by region. The US solar inverter market divides into three types: central inverter, micro-inverter, and string inverter. Among all of these, the string inverter segment dominated the market and is expected to keep its dominance during the forecast period owing to the growing adoption of string inverters in commercial and residential applications.
By application, the market is segmented into commercial, residential, and utilities. Among all of these, the utilities application segment dominated the market and is expected to keep its dominance during the forecast period owing to the growing installation of solar panels and solar inverters in the various utilities, such as industrial utilities and educational utilities.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 1,121.5 Million |
| Projected Market Size in 2033 | USD 3,018.2 Million |
| Market Size in 2023 | USD 912.2 Million |
| CAGR Growth Rate | 11.52% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, System Type, Phase, Application, Distribution Channels and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | US |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
BRI has comprehensively analyzed US Solar Inverter market. We have provided a detailed explanation of the driving forces, restraints, challenges, opportunities, and key trends to accurately portray the market scenario. Segment-wise market size and market share during the forecast period are duly addressed to portray the probable picture of this US solar inverter industry.
The competitive landscape includes key innovators, aftermarket service providers, and market giants, as well as niche players, and is studied and analyzed extensively with respect to their strengths, weaknesses, and value-added prospects. In addition, the report covers key player profiles, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.
List of the prominent players in the US Solar Inverter Market:
- GoodWe Technologies Co Ltd
- Delta Electronics Inc
- CyboEnergy Inc
- Yaskawa America Inc
- Danfoss AS
- Sun Power Corporation
- Solectria Renewables
- SMA Solar Technology AG
- SolarEdge Technologies Inc
- Power Electronics SL
- Chicago Digital Power Inc
- Others
The US Solar Inverter Market is segmented as follows:
By Type
- Central Inverter
- Micro Inverter
- String Inverter
By System Type
- On-Grid
- Off-Grid
By Phase
- Single-Phase
- Three-Phase
By Application
- Residential
- Commercial
- Utilities
By Distribution Channels
- Online
- Offline
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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