Solar Photovoltaic Cell Market 2019-2028
New Study Reports “Solar Photovoltaic Cell 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2028”.
Introduction / Market Overview:
Solar energy has the advantage of being abundantly available. It just needs to be harnessed by the right tools. One of the leading batteries in the market these days is the solar photovoltaic cell. This is commonly referred to as the PV cell. This cell converts photons (light energy) into electrical energy. When light is absorbed by the semiconductor inside the battery, this energy is transferred to the electrons and then flows through as current.
There are different battery technologies that a solar photovoltaic cell uses. Out of these, the lead-acid types have higher reliability and low discharge and are being used in a lot of applications. Lithium-ion batteries are also a type used. However, since these are about 3.5 times more expensive than lead-acid types, they are not preferred. The third type of battery technology is the nickel-cadmium PV batteries. This report talks about the different types of batteries and their scopes for growth.
This further explains market conditions that existed in the past, in the present and forecasts the same for the future. The need for alternate energy sources and the incentives given by the governments of different countries for harnessing solar energy are both opportunities for market growth. The high cost of solar photovoltaic cell materials is a restraining factor. The detailed analysis of the market and its potential for improving are investigated in the report.
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Important key Players Analysis: Alfa Aesar, BASF, Dyenamo, Fujifilm, Fujikura, Greatcell Solar, Hangzhou Microquanta, Infinitypv, Jinkosolar, Kyocera, LG Chem, Merck, Oxford PV, Panasonic, Saule Technologies, Sharp and more.
There are two basic types of solar photovoltaic cells that the market produces. This report picks up both these models and discusses the pros and cons in detail. Crystalline Silicon is the first type the report considers. This is a very common material and most of the PV cells produced to date use silicon. Thin-Film photovoltaic cells are the second type and the report estimates that this type will grow much better than the former because of its various advantages. There are three areas of application or usage that the report identifies. Automotive, construction and industrial and their potential demand for these PV cells are spoken about.
The top regions that produce and demand solar photovoltaic cells are North America, Europe, Southeast Asia, India, China, and Japan. This report identifies the top regions that will hold the major market share in the coming years and forecasts their position for the years between 2019 and 2025. The report also identifies the export and import numbers of these regions and their projected revenue. The different key players in the industry are pointed out and the submarkets that are created are also specified. The report helps identify market drivers and the risk factors of establishing business in all these regions.
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In September 2019, a team of researchers from the Australian National University got a breakthrough in improving the efficiency of solar cells. They have mentioned that their perovskite cells have managed a 21.6% efficiency which is a first in this industry.
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