Solar photovoltaic technology facilitates conversion of photons into electricity. This is done by either converting part of the energy to electricity, for instance in a photovoltaic cell or by storing some part of the energy with a chemical reaction, for instance, while converting water to hydrogen and oxygen. Two function of this technology includes photogeneration of charge carriers in a light absorbing material and separation of charge carriers to a conducive contact that will transmit the electricity. Alternative solar photovoltaic technology possesses properties such as higher conversion efficiencies, lighter weight, greater mechanical flexibility, and less fragility. Owing to continuous increase in demand of renewable source of energy, rise in investment has been witnessed in alternative solar photovoltaic technology market. It is used in remote locations where cost-effective access is not given to power grids. This technology significantly lowers cost in comparison to electricity produced through traditional sources such as carbon fuels.
COVID-19 impact analysis
- Leading to industrial catastrophe, this COVID-19 pandemic has put the world on standstill position.
- for the COVID-19 outbreak has been severely impacted the growth of the alternative photovoltaic solar cell technologies market, due to shortage of not only cells and modules but also ancillary products, as this whole industry is dependent on import from other countries.
- Demand for almost every product is declining these days, due to decrease in disposable income attributed to the lockdown imposed globally.
- Production processes have halted in the alternative photovoltaic solar cell technologies market, owing to dearth of workforce and lack of supply of raw materials, thereby disrupting the supply chain.
Market dynamics
Increase in energy demand due to the rising population significantly boosts the need for sustainable energy resources, which acts as a key driving force of the global alternative photovoltaic solar cell technologies market. Furthermore, implementation of stringent regulations that focus on reduced dependency of fossil fuels and help control environmental pollution notably contributes toward the growth of the market. This, in turn, favors the demand for alternative solar photovoltaic technologies. In addition, reduction of the carbon footprint and low cost energy generation are expected to propel the demand for alternative solar photovoltaic technologies, thereby augmenting the market growth.
Key benefits of the report
- This study presents the analytical depiction of the global alternative solar photovoltaic technologies market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Alternative Solar Photovoltaic Technologies Market Report Highlights
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 Key Market Players | Global Solar Energy, Solar Junction, Solar Print, Plexelectronics, Sharp Solar, Microlink Devices, Heliovolt, Solarmer Energy, Solar Frontier, IBM Research, Polyera, Power Film, Sony, Heliatek, solibro, Miasole, Solaronix |
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