Perovskite solar cells will revolutionize solar sector: report
Perovskite-based solar cell technologies have gained attention due to their low manufacturing costs and higher operational output and efficiency
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis, Emerging Innovations Driving Efficiency Enhancements in Perovskite Solar Cells, finds that technology advancements are transforming the solar industry. It is witnessing a shift from first- (silicon-based)to second- and third-generation solar technologies (amorphous silicon, perovskite, and bifacial). Perovskite-based(third-gen) solar cell technologies have gained attention due to their low manufacturing costs and higher operational output and efficiency limits compared to first- and second-generation solar cells.
“Perovskite solar cells have demonstrated significant progress in recent years owing to the rapid increase in operational efficiency, from approximately 3% in 2006 to over 25% in 2020,” said Abhigyan Tathagat, TechVision senior research analyst at Frost & Sullivan, in a prepared statement. “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.”
Tathagat added: “Governments across the globe are exploring goals to achieve emissions reductions by 30% by 2030 as compared to 2016 levels. Hence, disruptive technological developments such as perovskite solar cells have brought in a change in terms of applicability and sustainability of solar cells.”
The paradigm shift from first- and second-generation to third-generation solar technology presents immense growth opportunities. According to Frost & Sullivan, market participants in the perovskite solar cell space should: