In the rapidly evolving field of renewable energy, repowering solar inverters has emerged as a strategic solution to enhance the performance, efficiency, and longevity of photovoltaic (PV) systems. In simple terms, repowering involves upgrading or replacing components of existing solar system setups to adapt to technological advancements, mitigate operational issues, and comply with evolving regulatory standards.
The market for PV inverter repowering is poised for exponential growth, fuelled by several industry trends and market dynamics. The reduction in prices of PV modules and inverters, over the past decade, have created significant opportunities for the replacement of existing systems. It is estimated that by 2030, the capacity of 10-year-old PV systems will quintuple to reach a staggering 700 GW globally, underscoring the immense potential for repowering initiatives.
The demand for inverter replacement is expected to grow from 40 GW in 2023 to 116GW in 2030, far out pacing previous predictions, according to S&P Global Commodity Insights.
