Market Highlights
The solar charge controller is the most important component of a solar energy system. It makes it possible for all the other parts to work together and help to reduce the voltage of solar panel. Basic charge controller simply monitors the battery voltage and opens the circuit, stopping the charging, when the battery voltage rises to a certain level. Whereas, modern charge controller lowers the amount of power applied to the batteries, when it is close to get overcharged. The latest trend gaining momentum in the solar charge controllers market is increasing demand for MPPT charge controllers. The most recent and best type of solar charge controller is called Maximum Power Point Tracking (MPPT). MPPT controllers are basically able to convert excess voltage into amperage.
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The prominent players in the solar charge controllers are Genasun (Italy), Luminous India (India), Microtek (China), Schneider Electric (France), Su-Kam Power Systems (India), Arise India (India), Delta Electronics (India), Sungrow Power Supply Co., Ltd (China), Victron Energy (Netherlands) and Beijing Epsolar Technology Co., Ltd (China).
Market Research Future Analysis:
Market Research Future analysis show that the global market of solar charge controllers market is estimated to grow at CAGR of 15.02 % by the end of the forecast period.
Solar energy policy is developed by governments to sustain its growth including solar energy production, distribution and consumption. Solar energy policies include legislation, international treaties, and incentives to investment such as the formation incentives in the U.S. In many countries, such as India and EU countries, the policies such as feed-in-tariff (FIT), portfolio standard (RPS), tax credits, pricing laws, production incentives, quota requirements, and trading systems, have been developed and implemented to promote the use of solar energy. Many industrialized nations have integrated a considerable number of solar power installations with the electrical grids. On the other hand, developing economies are using solar energy to reduce their dependence on fossil fuel-based power generation.
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