GaN inverters are smaller and more efficient; due to the process and cost advantages of GaN, there is a chance to fully replace SiC in the future

Looking ahead to the price trend and demand of the global inverter industry in the next five years, we predict that the global PV new installed capacity will increase from 122GW in 2020 to 346GW (CAGR13%) in 2025, and the corresponding photovoltaic inverter market size will increase from 45.8 billion yuan. Increased to 109.6 billion yuan. —— Guosen Securities December 2020