Flexible Solar Cell Growth Opportunities

EnergyFlexible Solar Cell Growth Opportunities

Application Diversity and Potential for Lower Levelized Cost of Energy Fuel Interest

RELEASE DATE
12-Jan-2024
REGION
Global
Deliverable Type
Market Research
Research Code: DACE-01-00-00-00
SKU: EG_2023_508
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$4,950.00
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SKU
EG_2023_508

Flexible Solar Cell Growth Opportunities
Published on: 12-Jan-2024 | SKU: EG_2023_508

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Net zero goals requires decarbonization in every aspect of human life, and renewable energy production is essential. Flexible solar cells are a compelling proposition because of their wide variety of existing and novel application areas. In contrast to conventional, fixed-format solar panels often crafted from crystalline silicon, flexible solar cells can be bent, curved, and otherwise adapted to diverse surface geometries. Flexible solar cells are also much more lightweight, which enhances their utility in small-scale applications. The combination of these features provides new possibilities for integrating solar power into consumer electronics and wearables, fabrics, building integrated photovoltaics, outdoor and military equipment, and space-based applications.

This research study emphasizes the contemporary and emerging solar cell technologies that are revolutionizing the solar industry. Topics include the technology landscape that includes the categorization of contemporary and emerging flexible solar cell technologies, an analysis of typical substrate materials utilized in their fabrication, and a comparison of technologies based on parameters including power conversion efficiency, technology maturity, band gap range, and cost.

Various application areas for flexible solar cells are highlighted. A patent analysis, a look at the innovation landscape that highlights key commercial players in the domain, and a growth opportunity analysis that sheds light on the key enablers for adoption are included.

The Impact of the Top 3 Strategic Imperatives on the Flexible Solar Cell Industry

INNOVATIVE BUSINESS MODELS

  • Why: Flexible solar cells have a wide range of existing and novel applications, and new businesses are emerging. These uses include devices that receive power from diffused radiation, advanced self-powering outdoor equipment, and the next generation of building-integrated photovoltaics (BIPV).
  • Frost Perspective: Because the emerging flexible solar cell technologies do not contain environmentally problematic constituent materials, they will find more use in everyday gadgets. Unlike silicon solar cells, flexible solar cells enable installation of BIPV solutions on non-linear and non-planar surfaces—leading to a new generation of BIPV solution providers.

DISRUPTIVE TECHNOLOGIES

  • Why: Silicon solar cells dominate the global solar cell market. However, the power conversion efficiency (PCE) of commercial silicon solar cells has reached a saturation level in recent years. Technologies such as perovskite solar cells (PSCs) and organic solar cells (OSCs) have the potential to disrupt the solar market because their theoretical efficiency limits are much higher, with PCE well above 30%.
  • Frost Perspective: Silicon solar cells provide approximately 22% efficiency, with only a few exceptions crossing that mark. However, the high PCE potential in flexible solar cells, especially those belonging to the 3rd generation, can transform the market because higher PCE will reduce functional requirements, leveled cost of electricity (LCOE), and upfront costs. Commercial silicon solar cell players must monitor the market developments of these novel technologies.

GEOPOLITICAL CHAOS

  • Why: Several global conflicts, including the Russo-Ukrainian war and the Israel-Hamas war, are putting pressure on the global supply chain. Such pressure results in price fluctuations in various commodities, including crystallized silicon and wafers, which several countries are importing to fabricate solar cells locally.
  • Frost Perspective: China, Russia, and Brazil produce most of the world’s silicon. Trade conflicts between China and the United States can increase the risk of price fluctuations, while the Israel-Hamas war can affect global trade by impacting the movement of cargo ships and increasing insurance costs. In such a high-risk environment, countries must focus on solar technologies that use locally sourced raw materials—benefit that several of the emerging flexible solar cells offer.

 

Scope of Analysis—Flexible Solar Cells Essential for Increasing Solar Energy Penetration in Day-to-Day Life

  • Global focus on attaining net zero goals requires decarbonization efforts in every aspect of human life, and renewable energy production is an essential part of that. Flexible solar cells provide a compelling opportunity because of their wide variety of existing and novel applications. Potential areas of application include BIPV, consumer electronics and wearables, outdoor and military equipment, and remote power generation.
  • The study emphasizes various technologies that manufacturers are using to fabricate flexible solar cells and the applications that are catalyzing their global adoption.
  • The study covers the technology landscape, including contemporary and emerging technologies, and the various applications of flexible solar cells.
  • The study provides a comparative analysis of contemporary and emerging flexible solar cells according to parameters such as PCE, cost, and band gap.
  • The study covers the patent landscape and global growth opportunities that will drive adoption of flexible solar cells.
  • Finally, the study discusses examples of major funding by global stakeholders for the development of flexible solar cells.

 

Segmentation

Flexible Solar Cells

Contemporary Flexible Solar Cells

  • a-Si
  • Copper indium gallium selenide (CIGS)
  • Cadmium telluride (CdTe)
  • Gallium arsenide (GaAs)

Emerging Flexible Solar Cells

  • Copper zinc tin sulfide (CZTS)
  • PSCs
  • Organic solar cells (OSCs)
  • Dye-sensitized solar cells (DSSCs)

 

Growth Drivers

  • Installation of flexible solar cells is possible on a variety of planar and non-planar surfaces because of their flexibility and compact form. This makes them suitable for a wide range of applications, including portable electronics, consumer wearables, outdoor equipment, BIPV, military equipment, marine vessels, and Internet of Things (IoT) devices.
  • Because their construction is significantly thinner than that of fixed solar cells, the fabrication of flexible solar cells requires much less material and power, thereby reducing their carbon footprint and minimizing energy payback (EPB) time. For typical silicon solar cells, EPB takes a few years, while the EPB time of flexible solar cells is a few months to a maximum of just over 1 year.
  • The ability of flexible solar cells to capture diffused radiation enables their usage in novel applications where standard silicon solar cells cannot function. Indoor electronics, sensors, and building facades can all benefit from flexible solar cells and generate renewable electricity by utilizing indoor lighting. The inclusion of solar cells in indoor consumer electronics and sensors will increase, thereby acting as a major growth driver for flexible solar cells.

 

Growth Restraints

  • Most of the commercial flexible solar cells available in the market exhibit a lower PCE than fixed-format silicon solar cells. PCE governs how much area needs coverage with solar cells to generate a specific amount of power output. The lower PCE that flexible solar cells deliver mandates the installation of a greater number of solar modules in a particular use case, which may hamper a project’s budget.
  • Solar cells that use CIGS, CdTe, or GaAs technology contain toxic and heavy metals, which increases environmental hazards. This is one of the factors that has inhibited adoption as widespread as fixed-format silicon solar cells. However, emerging solar cells contain environmentally friendly materials, which can reduce the impact of this growth restraint.
  • Flexible solar cells have difficulty matching the long service life of 25 years that fixed-format silicon solar cells provide. Moreover, because of chemical instability issues that some have, their performance decreases with time. This greatly hinders their adoption because solar cell replacement creates extra financial burden on a project. Stakeholders are aiming to solve this issue by emphasizing better fabrication and encapsulation methods.

Why Is It Increasingly Difficult to Grow?The Strategic Imperative 8™: Factors Creating Pressure on Growth

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Flexible Solar Cell Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Methodology

Scope of Analysis—Flexible Solar Cells Essential for Increasing Solar Energy Penetration in Day-to-Day Life

Segmentation—Emerging Technologies Overcome the Challenges That Contemporary Flexible Solar Cells Face

Growth Drivers

Growth Restraints

Flexible Solar Cells—Impetus on Clean Energy Fueling Growth

Flexible Solar Cells—Working Mechanism

Contemporary Flexible Solar Cells—Facilitating Utilization of Solar Power in Broad Range of Applications

Contemporary Flexible Solar Cells—Environmentally Hazardous Materials Used in Fabrication Hamper their Widescale Usage

Emerging Flexible Solar Cells Technologies—Providing a More Sustainable and High-Performance Solution

Types of Substrates Used in Fabrication of Flexible Solar Cells

Flexible Solar Cells Facilitating a Wide Range of Applications

Emerging Flexible Solar Cells Are Yet to Achieve PCE as High as Contemporary Ones

Comparative Analysis of Flexible Solar Cells

Comparative Analysis of Flexible Solar Cells (continued)

Academia and Commercial Players at the Forefront of Research Activities in Flexible Solar Cells

ASCA, France—Providing Flexible OSCs for a Multitude of Applications

Exeger, Sweden—Innovating in Cutting-Edge DSSC Technology

Other Key Players in the Flexible Solar Cell Domain

China Dominates the Flexible Solar Cells Patent Landscape

Key Funding from Flexible Solar Cells Stakeholders

Growth Opportunity 1: Emergence of Self-Powered Consumer Electronics

Growth Opportunity 1: Emergence of Self-Powered Consumer Electronics (continued)

Growth Opportunity 2: Greenfield Opportunity for Material Fabricators to Provide Enhanced Encapsulation Solutions

Growth Opportunity 2: Greenfield Opportunity for Material Fabricators to Provide Enhanced Encapsulation Solutions

Growth Opportunity 3: Enabling the Next Generation of Agrivoltaics and Precision Farming Practices

Growth Opportunity 3: Enabling the Next Generation of Agrivoltaics and Precision Farming Practices

Technology Readiness Levels (TRL): Explanation

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Net zero goals requires decarbonization in every aspect of human life, and renewable energy production is essential. Flexible solar cells are a compelling proposition because of their wide variety of existing and novel application areas. In contrast to conventional, fixed-format solar panels often crafted from crystalline silicon, flexible solar cells can be bent, curved, and otherwise adapted to diverse surface geometries. Flexible solar cells are also much more lightweight, which enhances their utility in small-scale applications. The combination of these features provides new possibilities for integrating solar power into consumer electronics and wearables, fabrics, building integrated photovoltaics, outdoor and military equipment, and space-based applications. This research study emphasizes the contemporary and emerging solar cell technologies that are revolutionizing the solar industry. Topics include the technology landscape that includes the categorization of contemporary and emerging flexible solar cell technologies, an analysis of typical substrate materials utilized in their fabrication, and a comparison of technologies based on parameters including power conversion efficiency, technology maturity, band gap range, and cost. Various application areas for flexible solar cells are highlighted. A patent analysis, a look at the innovation landscape that highlights key commercial players in the domain, and a growth opportunity analysis that sheds light on the key enablers for adoption are included.
More Information
Deliverable Type Market Research
Author Pankaj Gaur
Industries Energy
No Index No
Is Prebook No
Keyword 1 Solar Energy Market Dynamics
Keyword 2 Renewable Energy Trends
Keyword 3 Solar Cell Technology Trends
Podcast No
WIP Number DACE-01-00-00-00