Thin Film Solar Molecules Market Poised to Achieve Significant Growth by 2026

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Thin film photovoltaic solar panels are panels used to convert sunlight into electricity similar to C-Si & A-Si PV panels. Thin film solar molecules are thinner and more flexible than other solar panels. Semiconductor layers on thin film solar panels are a few millionths of a meter thick

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Thin film solar technology is best suited for commercial buildings with ample of rooftop space. Increasing number of commercial buildings in turn, is expected to increase demand for thin film solar technology, thus boosting growth of thin film solar molecules market.

Thin film solar technology, however, is less efficient than conventional solar panels due to its composition of elements. These panels reach 6% to 11% efficiency and require more roof space to produce the same amount of electricity as conventional PV solar panels. Installation time and costs of these panels are also higher than conventional ones. These factors pose as major restraints for growth of the thin film solar molecules market.

In cases where houses or buildings have special architectural requirement that do not support installation of conventional solar PVs, the demand for thin solar panels is high. Furthermore, these panels are extremely flexible and thus fit a variety of special spaces due to which they are of great advantage. These factors contribute to growth of the thin film solar molecules market.

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On April 2, 2018, ReNew Power Ventures Pvt. Ltd. announced acquisition of Ostro Energy Pvt. Ltd, accounting for the largest buyout in India’s renewable power sector and being positioned as the top green energy company by capacity. ReNew Power’s total operational and planned capacity will increase from 4.5 GW to 5.6 gigawatt, through this acquisition.

On April 19, 2018, Everstone Group— private equity firm—formed an equal joint venture with Lightsource BP— British solar power company—to set up a US$ 710 million India-focused green energy fund. Green Growth Equity Fund (GGEF) is the name of the intended fund, which has already received US$ 341 million in cornerstone investment from the British government and India’s National Investment and Infrastructure Fund (NIIF).

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