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Emerging applications driving market growth
One of the key areas where thin film PV is gaining traction is in building-integrated photovoltaics( BIPV). Unlike traditional rooftop solar paneling, thin film solar modules can be seamlessly incorporated into architectural elements such as facades, windows, and exterior walls. Some thin film solar products are up to 90 percent lighter than conventional silicon solar panels, reducing the need for structural reinforcements and enabling deployment in urban settings where space and weight constraints are critical. BIPV could help to transform vertical surfaces into energy-generating assets, contributing to renewable energy targets, whilst minimally disrupting land usage.
Another emerging application is in powering electronics and Internet of Things( IoT) devices. As smart devices proliferate, thin film PV is gaining traction as a sustainable energy source for small, often wireless, systems. These devices typically operate under low power and in low-light conditions, making them well-suited to thin film technologies such as organic photovoltaics( OPV) and dye-sensitized solar cells( DSSC). Efficiency is less critical in this context- as long as devices operate reliably, cost and adaptability become more important factors. Already, products like self-powered people counters, sensors, headphones, and keyboards are leveraging ultra-thin solar modules. Solar power reduces reliance on single-use batteries, minimizing maintenance and extending device lifespans.
As smart devices proliferate, thin film PV is gaining traction as a sustainable energy source
Perovskite solar cells: Boosting the solar market
Perovskite photovoltaics are emerging as a potentially transformative technology in the solar market, praised for their highpower conversion efficiencies, lightweight design, and potential for low-cost, scalable manufacturing. Unlike traditional silicon, perovskite solar cells can be produced via solution-based processes such as roll-toroll printing, using relatively abundant raw materials and supporting vertical supply chain integration. IDTechEx predicts that perovskite PV is on track to become lower in cost than silicon by 2035, as shown in its comprehensive report‘ Perovskite Photovoltaic Market 2025-2035: Technologies, Players & Trends’.
Perovskite solar cells also enable tandem device architectures, where perovskites are layered with silicon or other materials to surpass the traditional 30 percent efficiency. By leveraging a well-established technology and supply chain, perovskite / silicon tandem cells are positioned to gain significant market share. By offering a greater power density per unit area at a similar price point to standard silicon panels, these tandem devices are highly attractive for both utility-scale and distributed power applications.
Perovskites fundamentally suffer from durability issues and early concerns around stability and lifetimes, especially under harsh environmental conditions, have hindered commercialization. Significant progress in materials science has, however, improved perovskite solar stability. While standard solar lifetimes target 25 years, there are several pilot and early commercial perovskite PV projects which have demonstrated lifespans exceeding ten years, steadily closing the durability gap and bolstering market confidence.
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