Albany, NY -- (SBWIRE) -- 04/19/2019 -- The demand in the global alternative solar photovoltaic technologies market is rising on the back of expanding application of solar PV installations in lightweight rooftop, building applied photovoltaic systems (BAPV), building integrated photovoltaic (BIPV), consumer products, portable electronics, aerospace and military. Rising use of alternative solar photovoltaic technologies in different area will create new growth opportunities in this market.
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Alternative solar photovoltaic technologies play a vital role in solar PV industry. These technologies offer higher growth avenues along with higher conversion efficacies, new applications, lighter weight, improved stability, and greater mechanical flexibility. As grid electricity produced is produced through traditional generative sources like carbon-based fuels, there is higher chance for alternative solar photovoltaic technologies that provides higher potential for reduced production cost.
Development of New Technologies to Expand Market Performance
The competition in the global alternative solar photovoltaic technologies market is also increasing as several players are coming with new technologies to get a firm hold in the market. some of the key players in the market are Midsummer AB, Kaneka Corp, Solopower Systems Inc., Hanergy Thin-film Power Group Ltd., Showa Shell Sekiyu K.K., (Solar Frontier K.K.), Nanosolar Inc., Moser Baer India ltd., Onyx Solar Energy, and Opvius GMBH. These players are using advanced techniques to develop provide better facilities for the user using alternative solar photovoltaic technologies.
Furthermore, players are making efforts in reviewing different technologies that are currently in commercial use. Moreover, early-stage technologies are undergoing transformation, as they are moving from research to commercialization. With these processes, new technologies will augmented growth in the global alternative solar photovoltaic technologies market.
The global market for alternative solar photovoltaic (PV) technologies should grow from $1.9 billion in 2018 to nearly $2.3 billion by 2023 with a compound annual growth rate (CAGR) of 3.6% for the period of 2018-2023.
Alternative solar photovoltaic technologies have become an inseparable part of the solar PV industry. Alternative solar photovoltaic technologies offer the prospects of higher conversion efficiencies, lighter weight, new applications, greater mechanical flexibility and less fragility. They also offer the potential for significantly lower production costs that may be highly competitive with grid electricity produced through traditional generative sources such as carbon-based fuels, as well as with other types of more traditional solar PV technologies such as mono- and polycrystalline silicon modules.
Current worldwide sales figures support this trend and suggest that the alternative solar photovoltaic technologies market will grow gradually during the coming years. Forecasts of actual market volumes predict installation of more than REDACTED GW of alternative solar PV technologies by 2023. In 2017, First SolarInc. installed more than REDACTED GW of cadmium telluride (CdTe) modules worldwide. Alternative solarphotovoltaic technologies have until now been most successful in the U.S., Japan, China and Germany,but are likely to gain popularity across the globe.
Alternative solar photovoltaic technologies are divided into second generation and third generation solar PV technologies.
Second generation technologies are currently commercially viable and deployed on a relatively wide basis; they compete within the power generation segment, and more narrowly, their nearest competition is with c-Si PV technologies. The most widely utilized technologies are thin-film technologies (non-c-Si), which may be composed of the following -
- Cadmium telluride (CdTe) cells and modules.
- Copper indium gallium (di)selenide (CIGS or CIS) cells and modules.
- Amorphous silicon (a-Si; non-crystalline) cells and modules.
- Gallium-arsenide (GaAs).
Third-generation photovoltaics encompass a diverse set of technologies that range from those that are still in a highly theoretical stage to others that are in the earliest stages of commercial deployment in mostly specialized applications or niche markets. When compared to present adoption rates, the growth in both raw numbers and percentages will be highly impressive in the next five years for thirdgeneration PV, since they are beginning from such a low initial threshold. However, the overall size of the markets will remain small relative to c-Si and even other technologies in the second-generation PV category as companies continue to deal with the challenges of low conversion efficiencies and very specific environmental operating condition requirements for certain third-generation technologies (such as OPV) to achieve optimal performance.
The nearly $REDACTED billion worldwide market for alternative solar photovoltaic technologies that waswitnessed in 2018 will continue to grow gradually at a CAGR of REDACTED% through 2023. This market is stableand growing as a result of the gradual expansion of solar PV installations into niche applications like building integrated photovoltaic (BIPV), building applied photovoltaic systems (BAPV), lightweightrooftop, portable electronics, consumer products, aerospace and military, among others; opening newer opportunities for alternative solar photovolta ic technologies.
Scope of Report:
Topics analyzed within the report include a detailed breakdown and analysis of the global markets for alternative solar PV technologies by geography, technology and application. Additionally, included are a review of the different technologies currently in commercial use; a review of early-stage technologies that are beginning to see transfer from research to commercialization; a sketch of the industrys current structure, including competitive and regulatory analysis within this context; and major factors impelling and impeding global growth. The scope of the report extends to sizing of the alternative solar photovoltaic technologies market and an analysis of global market trends with market data for 2017 being considered as the base year, 2018 as the estimate year and forecast for 2023 with projection of CAGR from 2018 to 2023. Market data is provided in terms of megawatts installed annually and U.S. dollar value at global and regional levels, as well as select countries for alternative solar photovoltaic technologies.
The report focuses on assessment of alternative solar photovoltaic technologies and a detailed analysis of original equipment manufacturers and the related system providers. Market dynamics such as drivers, restraints, opportunities and challenges are also discussed in the report. The study forecasts the market value of the alternative solar photovoltaic technologies market for key technologies like CIS/CIGS, CdTe, a-Si, DSSC and OPV, among others. A deep dive analysis of CIGS technology is done by estimating the market trends for the application and production method segment. The report forecasts the market value of the CIGS alternative solar photovoltaic technologies market for major applications like grid tied applications, off grid applications, portable electronics and consumer products; and other applications like transportation, aerospace, remote sensing and military. The report also forecasts the market value of the CIGS alternative solar photovoltaic technologies market by production methods that include major manufacturing methods like sputtering, co-evaporation and other methods like electrochemical deposition and printing, among others.
While this report contains a significant amount of technical information due to the inherent nature of the subject and thus provides information valuable to engineers and scientists, it is primarily aimed at business professionals in fields related to alternative solar technologies. These may include manufacturers and their suppliers, financiers and investors, researchers with backgrounds in engineering and sciences, marketing and sales professionals, renewable energy advocates, and others.
This report may also prove valuable to professional analysts, investors, public policy advisors and others who are seeking a better understanding and definition of how alternative solar technologies fit into the broader global solar PV market, the global renewable energies market, the global electric energy market and the global energy market.
Not included in this report, except when inclusion of such information provides context for better understanding of the core topics being discussed, are -
- Monocrystalline silicon photovoltaics.
- Polycrystalline silicon photovoltaics.
- Solar thermal technologies.
- Concentrating solar power (as differentiated from concentrating photovoltaics).
- Other renewable energy generation technologies such as wind or geothermal.
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- 79 data tables and 40 additional tables
- Country specific data and analysis for United States, Canada, Mexico, Japan, China, India, South Korea, Thailand, Australia, Malaysia, Taiwan, Germany, France, Italy, Spain, U.K., Denmark, and the Netherlands
- Coverage of history, components and applications of solar PV systems
- Discussion of drivers, restraints, opportunities and challenges of the industry
- Details of advancements in alternative photovoltaic technology
- Insights of competitive and regulatory analysis and major factors impelling and impeding global growth
- Complete understanding of the key technologies like Cadmium Telluride (Cdte), Copper Indium Gallium (Di)selenide (CIS/CIGS) and Amorphous Silicon (A-si)
- Company profiles of the major players of the industry, including Ascent Solar Technologies Inc., First Solar Inc., Manz Ag, Showa Shell Sekiyu K.K. (Solar Frontier K.K.) and Hanergy
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