A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Polymer
Solar Cells
Market. The
study, titled “Polymer
Solar Cells Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
Global
demand for energy is expected to rise rapidly in coming years. Demand
for fossil fuels is declining across the globe, as these fuels lead
to concentration of carbon dioxide in the atmosphere. Thus,
development of sustainable, renewable, and environmentally-friendly
energy sources is one of the major challenges facing the world.
Photovoltaic (PV) is one of the trending renewable energy
technologies around the globe. It helps converts solar energy into
electricity through the usage of solar cells. Solar cells are made of
crystalline silicon and other rare earth elements such as germanium,
arsenic, gallium, and cadmium. Demand for PV integrated devices and
solar panels is rising at the rate of approximately 40% per year.
This trend is anticipated to increase further in the next few years.
Governments across the regions are offering special grants and
conducting implementation programs to encourage the usage of the PV
technology.
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Polymer
solar cell are physically flexible in nature and they are made from
solar cells having repeating structural configuration of large PV
array. Polymer solar cell produces electrical energy from solar
energy through the photovoltaic effect. Polymer solar cell is also
known as organic solar cell, which is a thin film solar cell that
works on the photo-induced electron transfer mechanism. Various types
of polymer solar cells such as dye-sensitized solar cell, double
layered polymer cells, and bulk heterojunction cells are available in
the market. Highly purified and refined crystalline silicon is used
in the manufacturing of highly efficient polymer solar cells which
make it an expensive process and raises the overall cost of the
panels. The material used for the manufacture of polymer solar PV
cells is expensive. It is the same material that is used in the
manufacture of computer chips and integrated circuits.
Demand
to generate other alternate technologies has been increasing due to
the high manufacturing cost and complex production process of polymer
solar cells. Polymer solar cells offer various advantages vis-à-vis
crystalline silicon solar PV cells. Polymer solar PV cells are
disposable, light in weight, and easy to fabricate. They have low
environmental impact and offers high level of customization at the
molecular level. Polymer solar PV cells are also employed in a large
number of applications compared to crystalline silicon PV cells.
Polymer solar PV cells are flexible; thus, these can be applied in
windows, walls, flexible electronics, clothes, and other wearables.
Factors
such as cost efficiency, rise in demand for solar panels, and
increase in need of clean and sustainable energy in electricity
generation are driving the global polymer solar PV cells market. High
efficiency of polymer solar PV cells and their instantaneous
electricity generating properties are further boosting the market
across the globe. Increase in awareness about the usage of clean
energy sources in energy generation is also propelling the polymer
solar cells market. Polymer solar PV cells also have some
disadvantages. For instance, these cells degrade during the dark and
in high illumination. Thus, these cells cannot be used for a long
duration. Furthermore, there are issues with thermal stability and
efficiency of polymer solar cells. These factors are hampering the
polymer solar PV cells market.
Based
on region, the polymer solar PV cells market can be segmented into
Europe, North America, Asia Pacific, Latin America, and Middle East &
Africa. North America is the biggest player in the manufacture of
polymer solar PV cells owing to the large number of renewable energy
projects and rapid expansion in the power sector in the region. Asia
Pacific also holds a key share of the solar cells market owing to the
rise in number of renewable energy projects, growth in the wearable
solar electronics industry, and increase in demand for electricity
throughout the region. Expansion in electronics and automobiles
industries in Europe and Asia Pacific is the major factor boosting
the global polymer solar PV cells markets in these regions. Middle
East & Africa is a new market for global polymer solar PV cells.
However, the market in the region is anticipated to expand
significantly during the forecast period. Latin America has also
intensified the renewable energy generation programs. Investments are
being made in the energy and power sectors in the region. Thus, Latin
America is a promising region for the polymer solar PV cells market.
Key
players operating in the global polymer solar cells market include
Trina Solar Limited, Tata Power Solar Systems Limited, Solar World
AG, Jinko Solar Holding Co. Ltd, Alps Technology Inc, Suniva Inc,
Pionis Energy Technologies LLC, Borg Inc., and Itek Energy.
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to view Sample Report:
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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