The rapid escalation in market demand for organic solar cells across the globe can be rightly attributed to the unique properties possessed by these devices. Subject to the rising preference for organic solar cells over the traditional silicon solar cells, the remuneration portfolio of organic solar cells market space has witnessed a remarkable upswing in the recent years. Apparently, organic solar cells are light weight and transparent which makes it easier for manufacturers to produce these devices in different colors and shapes. In addition to this, these cells have found wide scale popularity across numerous applications – a factor that has favorably impacted the growth trajectory of organic solar cells industry.
Promising technological breakthroughs to significantly transform the global organic solar cells market trends
Over the past few years, solar technology has advanced by leaps and bounds as organic solar cells have eclipsed conventionally expensive single-crystal solar cells. Owing to the escalating demand for solar-powered systems coupled with the ever-increasing electricity consumption levels, it has been observed that research fraternity across the globe has been putting in extensive efforts to bring forth highly efficient and economical organic solar cells. Enumerated below are a few instances that underline the R&D activities that are certain to impel the commercialization prospects of organic solar cells market in the immediate future:
- In an attempt to enhance the efficiency of organic solar cells, scientists at the Illinois based Northwestern University have devised a mathematical search algorithm built on the basis of natural evolution. Apparently, the search algorithm is said to pinpoint the exact geometric pattern that is ideal for capturing and holding sunlight in organic solar cells for a longer duration. The method further aims to alter the thickness of the polymer layer of solar cell which would eventually lead to manufacturing of less expensive and more efficient organic solar cells. In addition to this, the process has been tested by taking into account evolutionary principles of genetic and crossover mutation – a factor that would open up new possibilities for firms partaking in organic solar cell market.
- Making rapid headways in the advancement of singlet fission, a type of organic solar cell technology, researchers at Lawrence Berkeley National Laboratory (LBNL) have developed a new mechanism to accelerate the pace of this technology. For the record, singlet fission is a process by which light energy can be converted directly into electricity. The latest mechanism has apparently presented new insights on creating a high grade solar cell and material that would quicken the pace of this technology. While such excellent innovations wouldn’t be made available soon to the solar consumers immediately, developments like these indicate the rising significance of organic solar cells market across the globe.
- Citing one of the most noteworthy innovations being unveiled in organic solar cells industry, scientists at Karlsruhe Institute of Technology in Germany have manufactured novel sunglasses. These glasses apparently come with semitransparent organic solar cells mounted on the lenses that can be utilized to charge the battery of a phone. Interestingly, these glasses were designed as a part of a study undertaken at the Karlsruhe Institute of technology to exhibit how organic solar cells can be deployed to manufacture innovative products. Apparently, the cells provide a microprocessor and two displays with electric power which display the ambient temperature and solar illumination intensity. Although the technology is in the nascent stage, organic solar cells market stakeholders appear optimistic about the future applications such as the incorporation of these cells into overhead glazing or windows.
Although organic solar cells have found extensive recognition as effective sources of clean electrical energy, the overall organic solar cells market share has conventionally been constricted in the recent past. Shorter lifespan and lesser efficiency than silicon based solar cells have been the chief factors leading to the sluggish demand for organic solar cells. However, with the advent of new methodologies to enhance the efficiency of these cells coupled with a marked increase in the investments to scale up research activities, organic solar cells market space is bound to undergo a massive transformation in the upcoming years, cite industry experts.
The latest addition to Market Study Report on organic solar cells market intelligence is titled “2018-2025 Organic Solar Cells Report on Global and United States Market, Status and Forecast, by Players, Types and Applications”, available at https://www.marketstudyreport.com/reports/2018-2025-organic-solar-cells-report-on-global-and-united-states-market-status-and-forecast-by-players-types-and-applications