Cant ask for a better explanation than tony already given but as for your fuses not blowing query- they are looking at current flow not voltage, so a voltage spike could easily blow sensitive equipment like electronics without operating the fuse, even if your inverters were protected by semi-conductor fuses internally or external as ofter found associated with inverters i still believe this would occur without them operating unless the voltage rise created an internal short circuit but again damage already done in this case.