Market Scenario
Solar power is emerging,
as a highly demanded form in the renewable energy industry. Solar power is
generated with the help of photovoltaics and concentrated solar panels. The
emphasis on cutting down the carbon emissions has led the countries to increase
the share of renewable energy in the electricity generation mix. Solar power
sees maximum opportunities due to huge geographic potential and incentives and
policies from the governments to promote clean energy generation. Solar power
has attained milestones in the last decade, with global generation reaching to
approximately 100 GW, by the end of 2017. Solar photovoltaics are advantageous
as they are quiet and are reliable for long term electricity generation without
huge maintenance costs.
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Industry Highlights
Solar photovoltaics face
an issue of low efficiency as the sytems not able to convert sun rays into
power efficiently. This is due to the demand to thin film photovoltaics that
are coated with effective thin film coatings with particular chemicals that are
photosensitive, which helps capture maximum sun rays and the convertion of
solar light to electricity by solar inverters. Thin film photovoltaics are,
thus, an energy efficient solution over traditional photovoltaics.
The demand for thin film
photovoltaics is heightened by the increased demand for mass-production of
energy due to the urbanization and transition of conventional energy to
renewable energy, growing energy significant markets, and increasing demand for
energy efficient solutions.
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Nations such as China,
India, and South korea are the major requisitioners for renewable energy due to
growing economic wealth and industrialization from the nations. Besides, these
nations are also the top air polluters through conventional fuel power plants. India
has plans to increase the energy generation through renewables to 175 GW up to 2022. Out of these 100 GW is
planned to be achieved through solar power source. The government is supporting
solar power through various incentives to equipment providers and solar plant
setters. China has evolved as the largest solar energy producing nation in the
world. According to IEA, China represents half of global solar PV demand and
Chinese companies account for 60% of total annual solar cell manufacturing
capacity.
Industry Segmentation
The thin film
photovoltaics market is segmented on the basis of material, type, end-use and
region.
Based on the material
segment, the market is classified as amorphous silicon, and cadmium telluride.
Amorphous silicon segments is dominating the global thin-film photovoltaics
market due to its global commercial availability.
On the basis of type, the
market is fragmented as organic and inorganic. Organic segment accounts for the
largest market share owing to photoactive layers composed of donor and acceptor
semiconducting organic materials to generate photocurrents thus organic
photovoltaics have capability to capture huge amount of sun rays and convert
them to electricity.
Based on end-user, the
thin film photovoltaics market is segmented as residential, industrial, and
commercial. Commercial sector is expected to dominate the market, owing to
supporting policies and incentives that are provided by the governments.
Key Players
The major player
operating in the market of global thin-film photovoltaics are Siemens AG
(Germany), United Solar Energy (U.S.), Solar Cells Inc. (U.S.), Solarex MD
(U.S.), Golden Photon Inc. (U.S.), ECD
(U.S.), Kyocera Corporation (Japan), and Suntech Power Holdings Co. Ltd
(China). Mitsubishi Electric Corporation (Japan), Panasonic Corporation
(Japan), Sharp Corporation (Japan), JA solar Co. Ltd (China), Jinko Solar
(China), ReneSola Co. Ltd (China),Kaneka Corporation (Japan) , and Trina Solar
(China) are among others.
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