Solar power is already a major part of the global renewable energy mix. The low production cost of solar energy, the abundant availability of solar power across the world, and the ease of use of solar power generation systems have led to the widespread usage of solar energy for both residential and nonresidential uses. Several countries in developed as well as developing regions have encouraged the widespread utilization of solar power to ease the pressure on the countries’ main power grids. Tax incentives and government entry into the field of renewable power have become commonplace all over the world, as solar photovoltaic has become a major energy source in many regions.
The firm foothold already established by the solar power sector in the overall energy generation field will massively help the development of ultrathin and superlight solar cells in the coming years. Whereas solar power is already an established renewable energy source in many countries, the application spectrum of the same is widening in several regions, which is expected to be greatly helped by the innovation of ultrathin and superlight solar cells.
The report helps deliver precise facts about the global ultrathin and superlight solar cells market by using a granular approach. Major regional segments of the global ultrathin and superlight solar cells market are examined in the report in order to provide a clear view of the geographical breakdown of the market. The competitive landscape of the market is also examined to provide key insights to readers.
Global Ultrathin and Superlight Solar Cells Market: Drivers and Restraints
Recently, scientists at MIT developed a solar cell literally thinner than human hair. Such ultrathin and superlight solar cells – it only weighs around 3.6 g/square meter – are the order of the day, and the proof of concept developed by MIT researchers will help drive the global ultrathin and superlight solar cells market massively. While the actual model developed by MIT scientists is too small and lightweight for practical use, since it would be blown away by the slightest of breezes, the field of ultrathin and superlight solar cells is just getting started. The application of ultrathin and superlight solar cells includes, but is not limited to, space travel and high-altitude balloons, where the weight-to-output ratio of energy systems can be a deciding factor. Such solar cells could even become part of apparel and wearable devices without the customer ever realizing it, potentially completely transforming the wearable electronics industry.
The wide-ranging potential application spectrum of ultrathin and superlight solar cells will be a major driver for the global market, since R&D in the field has been allowed to go on unhindered in many regions. The high weight-to-output ratio of ultrathin and superlight solar cells – MIT’s design delivers 400 times more energy per weight than conventional silicon-based solar cells – means that widespread usage of the cells is beneficial for alleviating the rising dependence on fossil fuels, which has helped the market garner government support.
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The major restraint on the global ultrathin and superlight solar cells market is the difficulty in expanding the scale of the operation of the industry. While initial R&D in ultrathin and superlight solar cells has been promising, scaling up to commercial production will require significant cost reductions for the technology to be feasible on a large scale. The sophisticated technology required to manufacture ultrathin and superlight solar cells is currently not available across the world, with developed regions such as North America dominating the R&D scenario. However, these constraints could be eased by steady demand in fields where price is no factor, such as space exploration and defense.