1. String Inverters:
String inverters are one of the most common types of inverters used in solar PV systems. They are typically installed at the beginning or end of a string of solar panels and are designed to convert the DC power generated by multiple panels connected in series into AC power.

String inverters are known for their simplicity, reliability, and cost-effectiveness. However, they may suffer from performance issues if one panel in the string is shaded or malfunctioning, as it can affect the output of the entire string.

2. Microinverters:
Microinverters are small inverters that are installed directly on individual solar panels. Unlike string inverters, which are connected to multiple panels in series, microinverters operate independently, allowing each panel to maximize its energy production regardless of shading or other issues affecting neighboring panels.

Microinverters also offer built-in monitoring capabilities, allowing users to track the performance of each panel in real-time. While microinverters are generally more expensive than string inverters on a per-watt basis, they can result in higher overall energy yields and are often preferred for installations with complex shading conditions or space constraints.

3. Power Optimizers:
Power optimizers are devices that are installed at the individual panel level, similar to microinverters. However, instead of converting DC power to AC power like microinverters, power optimizers perform DC-to-DC conversion, optimizing the voltage and current of each panel to maximize energy production.

The optimized DC power is then sent to a central string inverter for conversion to AC power. Power optimizers offer many of the same benefits as microinverters, including improved energy production and panel-level monitoring, but at a lower cost. They are often used in large-scale commercial installations where cost-effectiveness is a primary concern.

4. Hybrid Inverters:
Hybrid inverters, also known as multi-mode inverters, are designed to work with both solar PV systems and battery storage systems. In addition to converting DC power from solar panels into AC power for immediate use, hybrid inverters can also store excess energy in batteries for later use during periods of high demand or when solar generation is low.

Hybrid inverters are ideal for homeowners and businesses looking to maximize energy independence and reduce reliance on the grid. They offer advanced features such as grid-tie capability, backup power supply, and support for time-of-use tariffs.

5. Grid-Tied Inverters:
Grid-tied inverters are designed to synchronize with the utility grid, allowing solar PV systems to feed excess energy back into the grid for credit or compensation. These inverters must meet stringent grid interconnection standards to ensure safety and reliability.

Grid-tied inverters come in various configurations, including single-phase and three-phase models, to accommodate different grid voltages and system sizes. They are commonly used in residential and commercial applications where net metering or feed-in tariffs are available.