- Perovskite is the new buzzword that manufacturers across the globe should be getting used to, as the technology is set to play a major role in global supply chains, according to a new report
- By 2030, its total production capacity will reach 116.9 GW as its costs continue to drop significantly both in terms of manufacturing as well as installations
- Markets in Europe, the US, South Korea and Japan are set to take the technology seriously which is likely to introduce new players
The perovskite solar cell technology has the potential to bring in a disruption for solar supply chains across the globe as deeper research is set to offer 33% more electricity in combination with tandem silicon in the long run, but by 2030 it is expected to cut 50% off traditional solar generation costs. Prices will further come down subsequently, making sure it attracts the attention of companies worldwide.
These claims appear in the research titled Perovskites poised to disrupt solar supply chains everywhere—Report and Forecast to 2030 by UK based renewables focused market intelligence firm Rethink Technology Research. Analysts here sees perovskite accounting for over 29% of global market share by 2030 which is when of the global cumulative solar manufacturing capacity of 398.7 GW, perovskite production is expected to account for 116.9 GW.
Perovskite will initially come in tandem with existing silicon cells, followed by tandem with silicon modules, and finally as ‘incredibly cheap panels of pure perovskite’. Within a decade, as covered by the report, both raw materials and manufacturing processes are likely to cost much less alongside of efforts to increase its efficiency.
Another avenue of cost reduction will be balance of system (BOS) and installation since perovskite modules are light and thin.
The report argues that those manufacturers who do not catch up and adopt this technology are likely to lose out pushing the market towards ‘landgrab’ situation with ‘perovskite leaders able to undercut pricing and double the Levelized Cost of Ownership lead that solar already has over other electricity generating technologies’.
Lead Analyst Andries Wantenaar is convinced of major non-solar cell manufacturing corporations to wake up to the impact of perovskite to leap into solar manufacturing, and markets as Japan and South Korea that are currently dependent on Chinese solar panels can be expected to produce home players as will both Europe and the US.
“Perovskite will also create an entirely new series of technologies including building integrated PV (BIPV) – in windows, on the sides of buildings, on devices, which are not conventional solar – in other words which don’t need to last for 25 years or centrally feed an electricity grid, and which are easily and cheaply replaced, more like a printing process than a module manufacturing plant,” explained Wantenaar. “This report has not forecast these technologies at this time, and has concentrated solely on the impact on conventional solar.”
The report needs to be purchased from Rethink Technology Research’s website.
Oxford PV that has claimed a record 29.52% power conversion efficiency for perovskite-silicon tandem solar cell is already working to bring it out in mass production (see Oxford PV Claims 29.52% Perovskite Solar Cell Efficiency). This spin-off of University of Oxford is setting up an industrial scale solar cell production facility in Germany (see Brandenburg Commits €8.8 Million For Oxford PV Expansion).