Thin Film Photovoltaic Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Photovoltaics has enjoyed a remarkable growth in the last decade with the overall growth rates increasing every year, indicating that further addition of the production facilities is an attractive investment. World Energy Outlook 2012 published by an International Energy Agency (IEA) in the year 2012 indicates that a large amount of renewable energy and in particular solar energy will be required and utilized in the coming years to ensure a secure and stable energy supply.

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On the others side, IEA stressed that an urgent requirement to accelerate actions to tackle climate changes as large percentage of the total energy emissions are already locked in by the existing capital stock such as factories, buildings and power plants. Also, according to IEA forecasts an increase of non hydro renewable in power generation is far below the renewable energy potential.

Due to the present economic and financial constraints, introduction of the renewable energy sources, photovoltaic electricity generation systems is often considered as an expensive energy option. This is a short-sighted view as it does not consider all those renewable energy generation technologies that do not require fuels such as solar and wind, and reduces the price volatility risk and enhance the predictability of the power generation cost.

Photovoltaics market conditions varies from country to country. This is especially due to the public support programmes and different energy policies for renewable energy and especially photovoltaics along with the liberalization of the electricity markets in a particular country. After the successful addition of the solar photovoltaic in the last decade, the newly installed capacity has increased at a remarkable rate in the last three years to exceed the present installed capacity. The legal rules and regulations for the overall increase of renewable energy sources is setup with the National Renewable Energy Action Plans (NREAP). However, with the submission of the NREAPs in 2010 a number of positive signs have emerged for photovoltaic. In Italy, with the support of private players and the government, the Conto Energia was conducted and it supports for the PV installations by 2020. In the year 2012, Greece announced the project called as Helios, which aims to install up to 15 GW of PV electricity systems on public land by 2020. These developments indicate that the targets set in the NREAPs should be seen as the overall growth of photovoltaic.

The initiation of the feed in tariffs projected to be a good incentive for the grid solar photo voltaic system installations for both the types of power plants such as centralized and distributed in numerous countries such as Japan, Malaysia, Taiwan, Australia and Thailand.

Increasing investments, growing populations, stringent government rules and regulations are some of the key drivers of the thin film photovoltaic market. However, high cost required for the maintenance of the thin film photovoltaic can hinder the growth of the market. Large numbers of opportunities are there for thin film photovoltaic as demand for energy is increasing at a healthy rate in Asia Pacific countries especially India and China.

Some of the key companies in the business of thin film photovoltaic include SoloPower Systems Inc., Dunmore Corporation, HHV Solar Technologies Pvt. Ltd, First Solar Company, Mitsubishi Electric Corporation, Hanergy Holding Group Limited, SoltaBond GmbH, Kaneka Corporation, BLOO Solar Inc., Tokyo Electron Limited and NanoPV Solar Inc. among others.

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