Perovskite solar cells a promising photovoltaic technology that has the potential to dramatically boost solar power generation. Perovskites have a unique crystal structure that provides them semiconducting properties, thus, making them suitable for converting sunlight to electricity. Compared to traditional silicon solar cells, perovskite solar cells can be produced using simple manufacturing methods at a much lower cost. These can achieve high power conversion efficiencies even in dim light conditions. Major players are actively investing in research and development to commercialize metal halide perovskite cells. With further improvements in stability and upscaling of production, perovskite technology could displace silicon as the dominant photovoltaic material over the next decade.
Market Dynamics:
Global perovskite solar cell market growth is driven by ongoing research efforts to enhance efficiency and durability of perovskite materials. Large photovoltaic manufacturers are exploring perovskite-silicon tandem cells that can achieve conversion efficiencies beyond the limits of conventional silicon technology. However, low stability of perovskite absorber layers under environmental stress can hamper the market growth. The usage of lead in most perovskite compositions, though lead-free alternatives are being developed, can hamper the market growth. The rollout of large perovskite production facilities and module integration can offer significant growth opportunities. Improving stability through additive engineering and humidity protection coatings also offers growth opportunities.
Key Features of the Study:
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