Global PV monitoring mkt to grow by 2016

BANGALORE, INDIA: The global PV monitoring market is predicted to be a 23-gigawatt global market in 2012.

The PV monitoring market includes inverter suppliers, independent monitoring vendors and project developers that integrate hardware and software to manage a PV system’s operations data, client interface and standards compliance amongst many other functions.

Currently, the market is dominated by European independent monitoring vendors and the expected expansion of monitored PV capacity to nearly 50 gigawatts by 2016 will bring more growth opportunities for existing and new suppliers.

The market has got limited attention because of low impact on the upfront cost of a PV system despite the fact that monitoring technology is an important aspect of a solar PV plant’s successful operation.