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Thin Film Solar Cells Market Emerging Growth By Key Industry Players: First Solar, Ascent Solar Technologies, Oxford Photovoltaics, Global Solar, Hankey Asia, SOLAR FRONTIER K.K., Xunlight Kunshan
Thin Film Solar Cells Market
Financial incentives including tax rebate, subsidies, net metering, FIT, low import duty and tax credit are set to favor the industry outlook.
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Reducing renewable tariff subjected to increasing competitive bidding may positively influence industry growth. In December 2016, solar power tariff witnessed a new low of USD 4 cents per unit quoted by Amplus Energy Solutions. These tariffs are applicable for rooftop projects in Himachal Pradesh, Uttarakhand and Puducherry.
Increasing electricity demand mainly from rural area among developing countries coupled with regulatory measures toward energy conservation will stimulate the thin film solar cells market size in future. High initial cost may act as a restraint for industry in near terms.
Cadmium telluride component is expected to exceed USD 20 billion by 2024 subject to its low manufacturing cost and high conversion efficiency. It has wide application in terrestrial power generation.
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UK thin film solar cells market share was over 25% of total revenue regional share in 2015 and in term of volume, is estimated to exceed 4GW by 2024. Government focus toward adoption of sustainable energy would favor the business.
Commercial thin film solar cells market share was valued over USD 1 billion in 2015 and in term of volume is anticipated to witness growth over 15% by 2024, growing demand for uninterrupted power supply will favor the industry growth.
China thin film solar cells market size contributed over 40% of total regional capacity in 2015 and in term of revenue is expected to witness a substantial growth over 15% from 2016 to 2024 owing to large implementation of PV projects. PV poverty allegation program of China has a target to install total 10GW of PV by 2020.
The key players in global thin film solar cells market are First Solar, Ascent Solar Technologies Inc., Oxford Photovoltaics, Global Solar, Inc., Hankey Asia Ltd., SOLAR FRONTIER K.K., Xunlight Kunshan Co. Ltd., MiaSole Hi-Tech Corp., Trony Solar, Ascent Solar Technologies and others.
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