Transparency
Market Research has released a market study, titled “Solar Cell Films Market - Global Industry
Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023”.
According to the report, the global solar cells market will expand
at a CAGR of 9.40% from 2015 to 2023. If the figure holds true, the valuation
of the market will be US$20.9 bn by the end of the aforementioned forecast
period; the market stood at US$9.4 bn in 2014.
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Owing to the
numerous benefits of solar cell films, the demand for the same has been on the
rise over the past few years, thereby benefitting the solar cells market, says
the report. Second-generation solar cell films are exemplary with respect to
the advantages they offer over their predecessors, which used a much thicker
wafer. The advantages of solar cell films include low manufacturing costs, high
product efficiency, and zero carbon emissions, which serve the energy needs in
an economic manner with a consideration of the environment as well.
The use of solar
energy reduces the dependency on conventional fuels for energy needs. This
helps save conventional fuels for high-intensity energy production, where solar
energy is not effective. Thus, energy security for the long run is ensured as
well. In this pursuit, environmental and government agencies are offering
subsidies to promote the utilization of solar cell films for commercial and
domestic energy needs.
The report
divides the global solar cell films market on the basis of product type, end
use, and geography. By product type, amorphous silicon, copper indium gallium
selenide, and cadmium telluride are the segmnets of the market, amongst which
cadmium telluride led the overall market in 2014. The reasons for the high
demand for cadmium telluride are longer life, low manufacturing cost, and high
product efficiency in the range of 16%-18%, which is the highest among solar
cells. The efficiency of cadmium telluride is due to its high sunlight
absorption power, which in turn accelerates the energy output of these cells,
due to which they are preferred over other solar cell films.
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Industrial,
commercial, and residential are the major end-use segments of the solar cell
films market. The commercial sector exhibits the highest demand for solar cell
films due to high electricity needs, especially during peak working hours. The
advantage of solar cell films for the commercial sector lies in its unlimited
capacity of power supply and low maintenance cost, because of which the energy
source is viable for offices, malls and multiplexes, and shopping complexes.
To promote the
utilization of solar energy in the commercial sector, governments in several countries,
especially in countries that are close to the equator and have high-intensity
sunlight for a major part of the year, are offering financial incentives and
complimentary installations to harness the energy. Attractive feed-in tariffs
are also provided for citizens who supply excess electricity to the grid.
Some major
companies operating in the solar cell films market are Heliatek GmbH, 3M, First
Solar Inc., and Stion Corporation, among others.
The global solar cell films market has been segmented as
follows:
Solar Cell Films Market: Type Analysis
·
Amorphous Silicon
·
Cadmium Telluride
·
Copper Indium Gallium Selenide
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