The global solar charge controller market size is expected to reach USD 4.15 billion by 2027, expanding at a CAGR of 15.1% from 2020 to 2027, according to a new report by Grand View Research, Inc. Implementation of climate change policies, along with provision of government subsidies for power generation through renewable energy, is likely to strengthen market growth over the forecast period.
Growing requirement for reliable power supply in harsh environmental conditions or remote locations has resulted in increasing deployment of off-grid photovoltaic systems, which, in turn, has positively influenced the solar charge controller demand across such regions. In addition, renewable energy battery storage solutions are expected to bolster the market growth over the forecast period.
Sample Report @ https://www.grandviewresearch.com/industry-analysis/solar-charge-controller-market
Solar charge controllers increase battery lifespan by regulating the voltage and current flow from PV panels to battery during the day and preventing excessive discharging flow from battery to solar panels during the night. Innovative technology advancements including controllers integrated with auto night detection capabilities, smart sensor technology, and smart communication technologies, such as Bluetooth, are expected to enhance the functional capability of the product across the industry.
Major industry participants find lucrative market growth opportunities in the Asia Pacific region with low cost product manufacturing across the developing economies. Market players practice high degree of forward integration to enhance their foothold and market share in the solar industry. Moreover, manufacturers are massively investing in innovative technologies such as Maximum Power Point Tracking (MMPT) owing to the higher output generated when compared to the Pulse Width Modulation (PWM) technology.
Contact Us:
Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Follow Us for Latest Industry Updates: IndustryForecastnews