Perovskite Solar Cells Set to Transform the Market

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Perovskite-based solar cell technologies have gained attention due to their low manufacturing costs and higher operational output and efficiency limits compared to first- and second-generation solar cells, according to Frost & Sullivan’s recent analysis, Emerging Innovations Driving Efficiency Enhancements in Perovskite Solar Cells.

The analysis finds that technology advancements are transforming the solar industry. It is witnessing a shift from first- (silicon-based) to second- and third-generation solar technologies (amorphous silicon, perovskite and bifacial).

“Perovskite solar cells have demonstrated significant progress in recent years owing to the rapid increase in operational efficiency, from approximately 3% in 2006 to over 25% this year,” says Abhigyan Tathagat, TechVision senior research analyst at Frost & Sullivan. “Perovskites are materials demonstrating similar physical structures along with phenomenal operational specifications. Going forward, the materials can be easily synthesized, which make them a promising futuristic solar cell technology for producing efficient and low-cost photovoltaics.”

The shift from first- and second-generation to third-generation solar technology presents immense growth opportunities. According to Frost & Sullivan’s analysis, market participants in the perovskite solar cell space should:

-Assimilate their technical expertise with smart designing, monitoring and control companies for long-term growth, which will be fueled by the ongoing shift toward smart solar technologies to minimize human intervention within field operations
-Interoperate with installers, system integrators and utilities to facilitate open access to consumers requiring solar services and systems while enabling smooth operational and monetary transactions between the system integrators and consumers
-Align technology and material developments with research and development (R&D) mandates, grid requirements and consumer preferences
-Build business and research consortiums, associations or alliances to augment and establish R&D-aided collaborations that will commercially support technological developments

For more information on Frost & Sullivan’s Emerging Innovations Driving Efficiency Enhancements in Perovskite Solar Cells analysis, click here.

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Solar Energy Guru
3 days ago

It’s crazy to think that some people think solar technology hasn’t evolved and developed. This should be a clear indication of how much solar technology and development are still chugging along.

Green Ridge Solar
15 days ago

Great to see new solar technological advancements! The solar industry is an impressive innovator and continues to show its robust research strengths and problem-solving capabilities.