The global solar central inverters market is expected to witness a CAGR of 12.56% during the forecast period. Certain factors that are driving the market include rising investments in renewables, rising demand for energy, and favorable government support.
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Renewable energy is playing a vital role in the global shift toward attaining a more sustainable and less carbon-intensive environment. Significant adoption of clean energy technologies across the world is due to the government regulations pertaining to reduction in carbon emissions. The boost in rising investments is due to the proliferation of clean energy technologies.
According to IEA, solar PV investment increased to record levels in 2017, as the share of deployment in historically low-cost countries such as China and India, continued to grow. With the increasing government support and investments, the use of renewable energy sources has been growing rapidly. Hence, the rising investments in renewables are expected to drive the growth of the global solar central inverters market.
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