The Power Of Organic Solar Cells

The organic solar cell market is likely to incite substantial development due to ever growing energy demands in various end-user applications.

- Doddie Householder

Coupled with the call for renewable energy sources and the cost-efficiency of solar panels in the electricity generation sector, rapid rise in polymer solar cells market has been posted in recent years.

Organic solar cells are preferred over traditional solar cells because of its physical properties such as design and flexibility which allows organic cells to be easily converted into desired shapes and colours. The organic solar cells market can be classified through its various applications such as building integrated photo voltaic applications (BIPV), defense applications, space research, mobile applications and other conventional solar applications. BIPV held the biggest share in the market followed by mobile applications and other conventional solar applications. However, low efficiency and shorter life span pose as major obstacles for the organic solar cell market.

The global polymer solar cells market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Currently, North America holds the lead in the global polymer solar cells market owing to its dominant presence in the energy and power sector. Asia Pacific comes in second because of the growing electronics and electrical industry, in particular China and Japan. Despite being dislodged to the third place, Europe is still an area to map in the region with its flourishing automobiles industry. Latin America is also gaining importance in this market due to the investments of this region in the energy and power sector, while India is eyed as a potential market owing to government regulations that support power generation from renewable resources.