Single Phase String Inverter Market Size

Single Phase String Inverter Market Size

The global single phase string inverter market size was valued at USD 2.3 billion in 2024 and is estimated to grow at a CAGR of 2.5% from 2024 to 2034. Designed for small and medium-sized PV systems, this solar inverter primarily meets the needs of residential and small commercial users. It operates on a single-phase electrical system, which is typical for small residential applications, where the power supply requires only one live wire and a neutral wire.
 

Rising awareness about energy independence and sustainability will encourage individuals and key players to shift towards solar power systems, driving the product penetration. Growing adoption of solutions offering modular design, allowing users to expand their solar system as energy needs grow will create lucrative opportunities for single phase string inverters.
 

Growing government initiatives and environmental campaigns including Investment Tax Credit (ITC), net metering in the U.S. and feed-in tariffs in Europe aimed at reducing carbon emissions and promoting sustainable energy adoption will improve the industry statistics. Furthermore, increasing demand for easily installed and more efficient inverters with smaller sizes and lower complexity will complement the product adoption. Their easy integration with residential grids, especially in regions with well-established single-phase electrical infrastructure will boost its adoption in residential solar power systems.