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Industry Landscape
The solar power electronics industry is experiencing robust growth driven by increasing global solar installations and the demand for enhanced efficiency, safety, and monitoring. Innovations in MLPE technology are continuously improving energy harvest and system reliability, making solar more accessible and competitive. The sector is crucial for optimizing solar PV performance.
Total Assets Under Management (AUM)
Annual Solar PV Installation Capacity in United States
~32.4 GW (2023 estimated)
(39% (2023 est.) CAGR)
- Residential installations are strong.
- Commercial and utility-scale projects are expanding.
- Policy incentives and cost reductions drive growth.
Total Addressable Market
8 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Perovskite Solar Cells
Next-generation solar cell technology offering high efficiency and low manufacturing costs, potentially integrating directly with MLPEs for enhanced performance.
AI/Machine Learning in MLPEs
Integration of AI for predictive maintenance, optimized energy harvest, and advanced fault detection within MLPE systems.
Vehicle-to-Grid (V2G) Integration
Technology enabling bidirectional power flow between electric vehicles and the grid, creating new opportunities for MLPE-equipped solar homes to act as distributed energy resources.
Impactful Policy Frameworks
Inflation Reduction Act (IRA) of 2022
The Inflation Reduction Act (IRA) of 2022 significantly expanded clean energy tax credits, including the Investment Tax Credit (ITC) for solar and new manufacturing credits for domestic solar components.
The IRA boosts demand for solar installations and incentivizes domestic manufacturing of MLPE components, potentially benefiting APsystems through increased market volume and supply chain stability.
California Solar Mandate (Title 24, Part 6)
Effective January 1, 2020, California's Title 24, Part 6 requires most new homes to include solar PV systems as part of the building code.
This mandate creates a guaranteed market for solar PV systems, including MLPEs, in new residential construction in California, a key market for APsystems.
NEC 2020 and NEC 2023 Rapid Shutdown Requirements
The National Electrical Code (NEC) 2020 and 2023 versions mandate rapid shutdown capabilities for PV systems, requiring module-level or string-level power reduction for firefighter safety.
These safety requirements directly drive the adoption of MLPE technologies like microinverters and power optimizers, as they inherently provide or facilitate rapid shutdown, aligning with APsystems' core offerings.
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