Solar PV Balance of System Market: Rising Environmental Concerns and Decreasing Costs of PV Systems to Drive Growth

Published Date : Aug 16, 2016

ALBANY, NY, Aug 16, 2016 - has added a new report, titled ‘Solar PV Balance Of System, Update 2016 - Global Market Size, Technology Review, Cost Analysis, And Key Country Analysis To 2020,’ to its offering. This report provides an in-depth understanding of the market for solar PV balance of system. The forecasted and historical size of the market in countries such as the US, China, Canada, Japan, Australia, India, Germany, Italy, South Africa, and the UK has also been presented. The key technological developments taking place in the market and their impact on the growth of the market have also been presented in the report. 

This report also analyzes the crucial trends in the solar PV balance of system market and highlights the share of its niche inverter market in all these nations. It also helps the emerging players in the identification of business development avenues in the market in order for them to gain better penetration opportunities into the market. The introductory section of the study presents insights into solar photovoltaic (PV) energy, solar PV balance of system, and solar PV modules. The components of solar PV systems, except the modules, are collectively known as the balance of system.

The hardware components of solar PV balance of system are cabling and transmission, and inverters and structures. In addition, there are also some hardware components that are employed in a system optionally. These include module cleaning equipment, monitoring systems, and tracking devices.

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In the next part of the study, the development cost, labor cost, and installations taking place in the market and the main dynamics impacting the development of the market from 2016 to 2020 are presented. As per the study, the rising environmental concerns, the decreasing costs of PV systems, and the supportive financial and policy incentives are the chief factors fuelling the growth of the market for solar PV balance of system. On the other hand, the surging requirement for land and the uncertainty in government support may restrain the growth of the market in the coming years.

Moving further, the crucial drivers and restraints impacting the growth of the market in each of the nations mentioned above have been analyzed. The market in these nations is also analyzed in terms of its size, installed capacity, and cost. In the last sections of the report, the top companies dominant in the market for solar PV balance of system have been analyzed on attributes such as their key services and products and company overview.

The key companies operating in the market are SMA Solar Technology AG, Sungrow Power Supply Co., Ltd., Huawei Technologies Co., Ltd., ABB Ltd., Emerson Network Power, Inc., and TBEA SunOasis Co., Ltd, and Enphase Energy, Inc., among others.

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