Tuesday, 21 June 2016

Global Dye Sensitized Solar Cell Market: Perovskite Solar Cells Emerge as Next- generation Solar Cells

The growing demand for clean and renewable energy has boosted the demand from the global dye sensitized solar cell market. Solar energy is the most abundant, cost effective clean form of energy available and can be utilized for the generation of electricity. Dye sensitized solar cells, coupled with photovoltaic cells, is considered the third generation of solar technologies. The dye sensitized solar cell market has a significant scope of growth and hence, a number of players in the market are focusing on the development of advanced and cost effective technologies to tap the solar energy.

What are the recent developments in the global dye sensitized solar cell market?

The global dye sensitized solar cell market is witnessing extensive research and development activities by the key players. Recently, the development of perovskite solar cells has revolutionized the market. Researchers at the ÉcolePolytechniqueFédéralede Lausanne, Switzerland, are working on stretching the limits of perovskite solar cell performance and increasing their efficiency by 20%. The research team lead by Michael Graetzel has found that by briefly reducing the pressure during the fabrication of perovskite crystals, the performance of perovskite solar cells can be enhanced. Graetzel is already known for the development of transparent dye sensitized solar cells. This latest development holds significant potential for the global dye sensitized solar cell market. In fact, perovskite solar cells are being termed as the next-generation counterparts of dye sensitized solar cells. However, the safety issues regarding the lead content of perovskite solar cells need to be addressed.

What are the key factors impeding the growth of the global dye sensitized solar cell market?

Issues pertaining to the performance limitations of dye sensitized solar cells have hindered the growth of this market. There is a marked difference between the best performances reported by dye sensitized solar cells;hence, the usage of dye sensitized solar cells for major outdoor applications is far-fetched.

A dye sensitized solar cell uses liquid electrolyte and this is another drawback of the design of this cell. At low temperatures, the liquid electrolyte could freeze and stop power production and cause physical damage. At high temperatures, the electrolyte will expand, leading to problems while sealing the panels. Furthermore, the liquid electrolyte contains volatile organic solvents and the leakage of the electrolyte during outdoor applications of the cell might prove hazardous.

Why Europe holds significant potential for the growth of the global dye sensitized solar cell market?

The global dye sensitized solar cell market has been dominated by Europe. The European Commission’s aim to reduce the reliance on fossil fuels has encouraged clean energy projects. Countries such as Denmark, Switzerland, Portugal and the U.K. are some of the pioneering countries in the field of clean energy. Furthermore, the introduction of the latest technologies and the extensive applications of portable electronics and building-integrated photovoltaic (BIPV) are anticipated to boost the market for dye sensitized solar cells in the coming days.

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