The industrial revolution spurred tremendous advances in science and technology that had the effect of exacerbating the world’s energy dependence. Over the past five decades, as the demand for energy has escalated and the consumption of fossil fuels has accelerated, people have sought renewable sources as an alternative way to meet growing energy requirements.
One promising and virtually inexhaustible source of energy is the sun. Solar energy enables vegetation to grow, and it can also be used to produce electricity by way of photovoltaic systems. Photovoltaic (PV) systems convert sunlight into electricity by means of photovoltaic – or solar – cells. When sunlight shines on photovoltaic cells, it is absorbed and converted directly into electricity without any moving parts. Although each cell produces only a small amount of electricity, cells can be linked together into solar arrays until the electrical output need is met.
PV is an increasingly important energy technology. Deriving energy from the sun offers numerous environmental benefits. It is an extremely clean energy source, and few other power-generating technologies have as little environmental impact as photovoltaics. As it quietly generates electricity from light, PV produces no air pollution or hazardous waste. Moreover, it does not require liquid or gaseous fuels to be transported or combusted. Also, because its energy source, sunlight, is free and abundant, PV systems can offer virtually guaranteed access to electric power.
However, this technology faces several large obstacles, most notably the costs relating to power generation and transmission as well as difficulties in obtaining funding for the development of advanced technology. Research is underway for development of so-called second generation – or thin-film – PV technologies to bring down the costs associated with PV energy.
This report examines this emerging technology and focuses on various technical, economic, and commercial aspects of solar photovoltaics. Beginning with an overview of PV technology, including its advantages, various types of PV, and its applications, the report goes on to explore the PV market dynamics including current and future market size, market growth and development, major trends, and barriers to the growth of PV technology. A detailed PEST analysis and cost analysis for the commercialization of PV technology compliments this overview. The report also includes an in-depth analysis of leading players, countries as well as companies, and several case studies. “Solar Photovoltaic Market Potential” provides a comprehensive assessment of the state of solar photovoltaic technology and the potential for this market.
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