Perovskite solar cells is one of the emerging type of photovoltaic cells which is flexible and light in weight. Perovskite solar cell is a solar cell that consists of perovskite-structured compound, tin halide-based material, and hybrid organic-inorganic lead, as the light-harvesting active layer. The perovskite solar cells efficiency is high in devices using perovskite cells and has improved significantly over the past period due to the continuous developments in solar energy. Furthermore, these perovskite solar cells are used as a light absorber as they have the ability to reach a broad range of wavelengths of light which allows them to convert solar power into electricity and fabrication is done easily. The combination of perovskite solar cells with silicon is known as tandem cells.
Due to flexibility and light weight characteristics of perovskite solar cells, it is expected to introduce the various application of solar cells. Currently, the standard electrode material used in perovskite solar cells is gold. Perovskite solar cells use electrode material which is gold, so its price is high in comparison to other solar cells. The presence of toxic material, lead (Pbl) is the major challenge for perovskite solar cell market. This toxic material used in perovskite solar cells pollutes the environment is restraining the perovskite solar cells market.
Perovskite Solar Cells Market: Market Dynamics
Fastest-advancing solar technology, low-cost and high optical absorption, utilization of perovskite compounds, the transformation of solar energy into electricity has led to a significant increase in power conversion efficiency which are the driving factors for perovskite solar cells market.
Hysteresis in the photocurrent density-voltage measurement, instability of perovskite, the toxicity of lead in perovskite materials, complex device structure, cheaper perovskite solar cells with a shorter lifespan and higher cost are the challenges of perovskite solar cells market.
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Perovskite Solar Cells Market: Market Segmentation
Perovskite solar cells market is segmented on application, end-use industries, product type, and region.
Based on application
- Smart glass
- Solar panel
- Perovskite in tandem solar cells
- Portable devices
- BIPV (Building-integrated photovoltaics)
Based on end-use industries
- Industrial automation
- Consumer electronics
Based on type
- Hybrid PSCs
- Multi-junction PSCs
Perovskite Solar Cells Market: Competition Landscape
Few prominent players in perovskite solar cells market include Alta Devices, Xeger Sweden AB, FlexLink Systems, Inc., G24 Power Ltd, Polyera Corporation, SolarPrint Ltd, Dyesol Inc., Solaronix SA, New Energy Technologies Inc, Ubiquitous Energy Inc., Raynergy Tek Incorporation, Saule Technologies, Fraunhofer ISE, Oxford Photovoltaics, Xiamen Weihua Solar Co.Ltd, and FrontMaterials.
Perovskite Solar Cells Market: Regional Outlook
Among various regions, North America perovskite solar cells market is expected to account for a high market share followed by Western Europe perovskite solar cells market which are the emerging markets for perovskite solar cell due to the increase in solar energy practices in these regions. The perovskite solar cell market in regions such as Latin America and Middle East & Africa is estimated to develop at a slow pace due to the high development costs of perovskite solar cells.
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