Global next-generation solar cell market is anticipated to grow at a significant CAGR of 12.2% during the forecast period (2024-2031).The market growth is attributed to the increasing adoption of thin-film solar cells in the solar industrywith increased use of PV systems for commercial, residential, and utility applications. By developing the key technologies for perovskite solar cells, a type of next-generation solar cell, and by conducting R&D to bring various production processes such as coating, electrode creation, and sealing to reality, products can be produced on a larger scale.
Browse the full report description of “Next-Generation Solar Cell Market Size, Share & Trends Analysis Report by Material Type (Transceivers, Cadmium Telluride (CdTe), Copper Indium Gallium Selenide (CIGS), Amorphous Silicon (a-Si), Gallium-Arsenide (GaAs) and Others), by Installation (On-Grid and Off-Grid), and by End-Users (Residential, Commercial & Industrial and Utilities)Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/next-generation-solar-cell-market
Future penetration of solar cells is aided by the increasing demand for distributed energy generation systems in developed countries.The Government and organizations are investing in renewable energy technologies to improve overall efficiency and reduce the cost per watt. For instance, in April 2023,the US Department of Energy (DOE), announced an investment of$52.0 million for 19 selected projects, including $10.0 million from the Bipartisan Infrastructure Law, to strengthen America’s domestic solar supply chain and $30.0 million in funding for technologies that help integrate solar energy into the grid.Additionally, this significant investment helps promote cheaper, more efficient solar cells and advance cadmium telluride (CdTe) and perovskite solar manufacturing.
Market players investing in high-efficiency solar cell production, photovoltaic power generation, and energy storage projects, helping clean energy and green electricity. For instance, in February 2023, Shunfeng International Clean Energy Ltd. (SF-PV) signed a contract to invest10.5 billion RMB ($1.4 billion) in the construction of a 10 GW TOPCon high-efficiency solar cell production base. With the launch of this project, SF-PV has major production bases across the country including Wuxi, Changzhou, Chuzhou, and Suzhou (Anhui Province), with a cell production capacity of 16.5 GW and a module production capacity of 25 GW.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Material Type
o By Installation
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Enphase Energy, Inc., First Solar, Inc., Panasonic Corp., Sharp Corp., and SunPower Corp.among others.
Key questions addressed by the report.
Global Next-Generation Solar Cell Market Report Segment
By Material Type
By Installation
By End-Users
Global Next-Generation Solar Cell Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/next-generation-solar-cell-market