SOLAR POWER GAZETTE

A solar charge controller, also known as a solar controller, is mainly used in off-grid solar systems and forms an essential part of these systems. Solar charge controllers are also used as battery backup in networks that are connected to solar systems. The functional principle of the solar charge controller is to change, regulate and control the current flow generated by the solar modules and to pass it on to the connected batteries in order to ward off overcharging or deep discharge.

The global solar charge controller market has been estimated at $ 2 billion and is projected to reach a CAGR of + 15% from 2021 to 2028.

Factors such as government measures to promote solar energy, the increasing development of off-grid electrical systems and increasing solar energy systems are the main driving forces behind the market for solar charge controllers. Off-grid electrical devices such as street lights are also growing and evolving rapidly to improve power generation systems and promote energy savings. In addition, almost all developing regions are trying to maximize the use of solar energy and limit their dependence on fuel-based electricity generation. An increasing understanding of the benefits of solar energy will propel the solar charge controller market worldwide during the forecast period.

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Main actors: SUNGROW, Morningstar Corp., Beijing Epsolar Technology Co., Ltd., Wenzhou Xihe Electric Co., Ltd., ShenZhen Alenson Electronic CO., Ltd., Arise India Ltd., Centralion Industrial Inc., Luminous India, Genasun, Schneider Electric, Microtek, Su-Kam Power Systems, Steca Elektronik, Shuori New Energy and Victron Energy BV

On the other hand, increasing solar capacity with the existing electricity infrastructure can prove sustainable, especially in countries with growing solar markets. Installing new solar-based power grids could be an expensive task, which in turn will slow the solar charge controller market. In addition, solar devices and other renewable technologies are extremely reliant on rare elements on earth, which can pose an enormous risk of disruptions to supplies.

The Asia-Pacific region dominates the solar charge controller market, followed by the Middle East and Africa as well as North and South America. This dominance can be attributed to factors such as the increasing demand for energy, the increasing understanding of the environment and the increasing awareness of solar energy in several countries such as China.

The Asia-Pacific region as well as the Middle East and Africa are expected to grow at a comparatively high rate and occupy a large chunk of the market in terms of cost over the forecast period. In addition, the Middle East and Africa region is untapped and can be a powerful market for solar charge controllers. Europe, along with North America and Latin America, is forecast to experience remarkable growth.