One of the recent developments in the field of renewable energy technology is the use of organic solar cells. Researchers have been studying the photovoltaic properties of plastic cells manufactured from thinner films of organic semiconductors that comprise of polyphenylene vinylene and tiny molecules of copper phthalocyanine. These solar cells also include carbon fullerenes and fullerene derivatives. According to Transparency Market Research (TMR), a market intelligence company, organic solar cell holds the potential to reduce the overall cost involved in manufacturing and installing of silicon solar cells.
The plastic used in organic solar cells has low production costs in high volumes. Combined with the flexibility of organic molecules, organic solar cells are potentially cost-effective for photovoltaic applications.
Taking into consideration the immense potential of organic solar cells to define the future of the solar industry, TMR has undertaken a deep study of the organic solar cells industry. The report includes a detailed market survey, overview of the industry, global market industry structure and analysis of the recent trends.
According to the report, the fluctuating silicon prices will result in the effective growth of the organic solar cells market. Compared to the weight and size of the traditional silicon-based solar cells, the small and compact size of organic solar cell is more beneficial and preferred by the consumers. Moreover, depleting fossil fuels, the rising demand for electricity, and the rising global temperature owing to burning of fossil fuels are diverging consumers across the globe to use organic solar cells. This in turn is boosting the market growth, states the report.
Back in 2012, IDTechEx, a market research company, published a report asserting that the organic photovoltaic market is about to hit a value of $630 million in ten years. Ovidiu Sandru reporter at The Green Optimist explains that the although organic photovoltaic cells are not as efficient as their silicon counterparts, they are cheaper to make and researchers will soon come up with new and better formulae that will increase their efficiency and further reduce production cost.
He adds that with their excellent form factor, good performance under indoor lighting conditions and low capital expenditure, organic PVs will not only target existing markets, but will also enable new ones, which existing solutions may not have been able to address.
Ovidiu’s opinion is reflected in TMR’s report, which predicts that over the years the cost involved in manufacturing organic solar cells would reduce and provide new market opportunities.
The new upcoming regulations of EPA and Greenpeace, imposing strict ban over the silicon based semiconductor, would further create new market opportunities for the organic solar cell. Some of the major players of the market are Sono-tek, Heliatek, Solarmer, Mitsubishi, Plextronics, Dyesol, EPFL, Peccell, G24i and others.
The report has analyzed the organic solar cell market depending on its market segments, major geographies, and current market trends. It provides pinpoint analysis of changing competition dynamics.