TMR_Research_Reports_2017 Polymer Solar Cells Market By 2025 | Page 2

Report Description
Global demand for energy is expected to rise rapidly in coming years. Demand for fossil fuels is declining across the globe, as these
fuels lead to concentration of carbon dioxide in the atmosphere. Thus, development of sustainable, renewable, and environmentally-
friendly energy sources is one of the major challenges facing the world. Photovoltaic (PV) is one of the trending renewable energy
technologies around the globe. It helps converts solar energy into electricity through the usage of solar cells. Solar cells are made of
crystalline silicon and other rare earth elements such as germanium, arsenic, gallium, and cadmium. Demand for PV integrated
devices and solar panels is rising at the rate of approximately 40% per year. This trend is anticipated to increase further in the next few
years. Governments across the regions are offering special grants and conducting implementation programs to encourage the usage of
the PV technology.
Polymer solar cell are physically flexible in nature and they are made from solar cells having repeating structural configuration of
large PV array. Polymer solar cell produces electrical energy from solar energy through the photovoltaic effect. Polymer solar cell is
also known as organic solar cell, which is a thin film solar cell that works on the photo-induced electron transfer mechanism. Various
types of polymer solar cells such as dye-sensitized solar cell, double layered polymer cells, and bulk heterojunction cells are available
in the market. Highly purified and refined crystalline silicon is used in the manufacturing of highly efficient polymer solar cells which
make it an expensive process and raises the overall cost of the panels. The material used for the manufacture of polymer solar PV cells
is expensive. It is the same material that is used in the manufacture of computer chips and integrated circuits.
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Demand to generate other alternate technologies has been increasing due to the high manufacturing cost and complex production
process of polymer solar cells. Polymer solar cells offer various advantages vis-à-vis crystalline silicon solar PV cells. Polymer solar
PV cells are disposable, light in weight, and easy to fabricate. They have low environmental impact and offers high level of
customization at the molecular level. Polymer solar PV cells are also employed in a large number of applications compared to
crystalline silicon PV cells. Polymer solar PV cells are flexible; thus, these can be applied in windows, walls, flexible electronics,
clothes, and other wearables.
Factors such as cost efficiency, rise in demand for solar panels, and increase in need of clean and sustainable energy in electricity
generation are driving the global polymer solar PV cells market. High efficiency of polymer solar PV cells and their instantaneous
electricity generating properties are further boosting the market across the globe. Increase in awareness about the usage of clean
energy sources in energy generation is also propelling the polymer solar cells market. Polymer solar PV cells also have some
disadvantages. For instance, these cells degrade during the dark and in high illumination. Thus, these cells cannot be used for a long
duration. Furthermore, there are issues with thermal stability and efficiency of polymer solar cells. These factors are hampering the
polymer solar PV cells market.