Pretty clear to me from the OP's post that the language you are quoting applies.
Yes, the language I'm quoting from 705.12(D) general statement applies... but it is a conditional statement which determines whether or not 705.12(D)(2) applies... and I'll recant my earlier statement that the key word is "capable" for the installation type under consideration here. Read on to see what the real key term is...
The inverter output circuits mentioned are branch circuits and feeders.
While many view them as such, they technically by Code definition are not branch circuit conductors.
Feeder. All circuit conductors between the service equipment,
the source of a separately derived system, or other
power supply source and the final branch-circuit overcurrent
device.
Branch Circuit. The circuit conductors between the final
overcurrent device protecting the circuit and the outlet(s).
Outlet. A point on the wiring system at which current is
taken to supply utilization equipment.
They are feeders if they do not otherwise fall under an Article 690 definition...
Inverter Output Circuit. Conductors between the inverter
and an ac panelboard for stand-alone systems or the conductors
between the inverter and the service equipment or
another electric power production source, such as a utility,
for electrical production and distribution network.
You can easily verify by looking at the Figure 690.1(A) & (B).
So starting from the microinverters, we're to the AC-combiner panel now with no feeders and no branch circuits. This is where the confusion starts because the combiner panel can easily be capable of supplying multiple branch circuits or feeders or both (again the question, is one okay? :blink

. In the case of the OP, he did not state whether this panel is MCB or MLO, so I'll cover both. For this part, I refer you to 690.15 second paragraph, which says...
A single disconnecting means in accordance with 690.17
shall be permitted for the combined ac output of one or more
inverters or ac modules in an interactive system.
So we now have a single disconnect (either the MCB or the main panel breaker if MLO) under 690 that serves as a single disconnecting means for the Photovoltaic Equipment. Now refer to 705.12(D)...
The output of a utility interactive
inverter shall be permitted to be connected to
the load side of the service disconnecting means of the
other source(s) at any distribution equipment on the premises.
The term "distribution equipment" is not specifically defined by the NEC. However, by contextual usage, we consider it to be electrical equipment which distributes power from other sources to utilization equipment, and subject to articles other than 690.
Getting back to the single disconnecting means of 690.15, we have yet to get to any distribution equipment if MCB, and if MLO, the main panel breaker would be that connection point. In either case, the equipment on the inverter side of the disconnect is Photovoltaic Equipment... not distribution equipment. Thus 705.12(D)(2) is not applicable to the AC-combiner panel.... unless a "branch circuit" or "feeder" is added to the panel, which would then make it distribution equipment. It does not matter whether the panel is capable of having these added, because until they are added, the panel is not distribution equipment.
Now in the case of an MCB combiner panel, we have the question whether the conductors between it and the main panel breaker is subject to 705.12(D)(2). For this, I refer you to 690.14(C). In short, it requires a means to disconnect all conductors in a building or structure from
photovoltaic system conductors, near the point of entrance. So again, we have yet to encounter any distribution equipment. 690.14(D)(3) and (4) further support this interpretation, as it requires disconnecting means in sight of the inverters and an additional means complying with 690.14(C)(1).
I think it's fairly obvious most of the time. Examples: A switchboard or panelboard is capable. A fused disco is not.
As John Wiles has pointed out, the CMP has rejected proposals wherein this sort of thing would be taken into account. It's pretty clear that the CMP has thought about these issues and decided to remain very conservative in their approach. Some AHJ's may make allowances, but if they don't, that's pretty much their prerogative.
The current code doesn't require anything to mitigate concerns about taps. The 2014 code will introduce the question of taps into 705 for the first time.
Again, the solar is a branch circuit or feeder, so if you've got solar plus a load then the equipment is "capable." Personally I would wager that the CMP intentionally included the word 'capable', as well as the phrase "including switchboards and panelboards" so as to be inclusive of distribution equipment in general. It is not a situational requirement; I think they pretty much intended 705.12(D) to apply generally to all load side connections. 2014 will update this section to be even more inclusive of various unaddressed situations, such as taps and center-fed panels.
Well I think I already covered this enough that no comment is required here.
I'll wait until 2014 edition is issued to comment on it...
