- A new analysis by Frost & Sullivan believes perovskite solar cells as having potential to revolutionize solar sector
- It counts higher operational output and efficiency along with low manufacturing costs for calling it a disruptive technology in this space
- Industry players should look at forming alliances with research bodies and also interoperate with stakeholders to facilitate open access to consumers
Global business consulting firm Frost & Sullivan believes perovskite solar cells are set to revolutionize the solar sector thanks to their low manufacturing costs and higher operational output and efficiency. This technology enables further applicability and sustainability of solar cells, according to the report.
Its analysis titled Emerging Innovations Driving Efficiency Enhancements in Perovskite Solar Cells calls perovskites based 3rd generation solar cell technologies as a disruptive technology faring better than 1st and 2nd generation solar cells that are mainly based on silicon.
Pointing at the significant progress in operational power conversion efficiency of perovskite solar cells ‘from 3% in 2006 to more than 25% in 2020’, the report sees immense growth opportunity for this technology, coupled with the fact that governments across the globe are now increasingly aiming to lower their emissions by 2030.
“Perovskites are materials demonstrating similar physical structures along with phenomenal operational specifications. Going forward, the materials can be easily synthesized, which make them a promising futuristic solar cell technology for producing efficient and low-cost photovoltaics,” said Abhigyan Tathagat, TechVision Senior Research Analyst at Frost & Sullivan.
For long term growth, the report suggests players in the space should assimilate their technical expertise with smart designing, monitoring and control companies, at the same time interoperate with installers, system integrators and utilities to facilitate open access to consumers in need of solar services and systems.
Analysts also believe companies and research consortiums should form alliances to augment and establish R&D-aided collaborations to commercially support technological developments.
Report details can be viewed on Frost & Sullivan’s website.
This week, the Ministry of Economics Germany’s state of Brandenburg announced €8.8 million ($10 million) funding amount for Oxford Photovoltaics Germany GmbH to enable it in its expansion of its operating facility where it has been producing high efficiency silicon perovskite solar cells on a pilot production line installed. The German arm of University of Oxford spin-off Oxford PV now plans to start industrial production of tandem solar cells based on silicon and perovskites in 2021 (see Brandenburg Commits €8.8 Million For Oxford PV Expansion).
Recently, the US Department of Energy invited research proposals to advance perovskite solar technologies to avail $20 million funding as it believes for perovskites to be competitive in the marketplace, its long-term durability needs to be tested and verified (see $20 Million US Govt Funding For Perovskite Solar Cell).