Perovskite Solar Cell Market Dynamics 2017: Opportunities, Risks and Driving Factors to 2025

Perovskite Solar Cells are the emerging thin film solar cells also known as 3rd generation photovoltaic cells, comprises of the perovskite structured compound. The perovskite structured compound is a type of mineral composed of calcium, titanium and oxygen in the form of Calcium titanate CaTiO3.  In the case of Solar Cells perovskite compounds are composed of an organic cation, a big inorganic cation and a slightly smaller halogen anion having chemical formula as ABX3.

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The perovskite structured is anything that has the generic form ABX3. Because of the unique crystallographic structure it possess a number of properties, includes broad absorption spectrum, fast charge separation, long transport distance of electrons and holes, and long carrier separation lifetime. Perovskite Solar Cells convert sunlight into electricity. These cells have tremendous absorption efficiency for sunlight which increases the efficiency of solar devices and reduce the cost of the solar energy.

Market Growth Factors

Perovskite Solar Cell has big gained over the traditional PV cells technology is that they can react to different wavelengths of lights which allows them to convert more of the sunlight into electricity.  Perovskite Solar Cell possesses benefits such as superior installation flexibility, cost and performance efficiency over traditional solar system. Supportive government policies regarding energy conservation, increasing demand of solar systems in residential sector, increasing awareness about green energy are acting as growth factors for this market.

Market Segmentation

Perovskite Solar Cells market can be segmented on the basis of Materials, Perovskite absorber and End user. Perovskite solar cell market is divided on the basis of material used for the forming thin film, hole interface and electron interface. Perovskite absorber can be a tin halide-based or hybrid organic–inorganic lead material. On the basis of end use market is categorized into Residential, Commercial and Utility Scale.

Regional Analysis

Geographically Perovskite Solar Cell market is split into North America, Europe, Asia-Pacific and LAMEA. Asia Pacific region is expected to be the largest market for Perovskite Solar Cells. This region is dominated by countries like Japan, China and India. Governments in these countries have taken initiatives to promote the green energy and increase the use of the solar systems.

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Competitive Analysis

Saule Technologies, Oxford Photovoltaics, FrontMaterials, Xiamen Weihua Solar Co.Ltd., Fraunhofer and ISE are some of the prominent players in this market. Still research is going on Perovskite Solar Cells that is why the market is highly concentrated with few players and developers across the globe. The efficiency of perovskite solar cells to convert power is emerged as a major competitive factor for this market.

Latest News

  • Skanska, a UK based commercial development business unit will be the first developer worldwide to cover office buildings with semi-transparent perovskite solar cells on a commercial scale.
  • Material scientists from Duke University have developed new manufacturing method for high-powered perovskite solar cells. This technique could be the gateway to new generations of solar cells, light-emitting diodes and photo detectors.

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