With solar energy growing in importance as a green and non-polluting energy source, the global market potential is significant, says Frost & Sullivan. However, cost and affordability are key barriers to adoption of solar energy being a viable energy source.
Although there are many photovoltaic technologies available on the market, Frost & Sullivan expects copper indium gallium selenide (CIGS) to make gains in the global solar power market due to its low manufacturing costs and high yield rates.
“The CIGS technology brings the combination of low cost, silicon-free material and energy efficiency. With increasing adoption of cheaper manufacturing processes for the manufacture of CIGS photovoltaic cells, there is a significant potential for these cells to become the cost-effective and clean energy source of the future,” said Harish Natesan, research analyst for Frost & Sullivan’s Electronics & Security practice, in a statement.
Frost & Sullivan will hold a briefing on CIGS Solar Cells on June 25. Targeted at solar cell manufacturers, suppliers, solar panel assemblers, contract manufacturers, and OEMs, the briefing will include a comparative analysis of competing photovoltaic technologies, drivers, restraints and challenges influencing the adoption of CIGS in the manufacturing of solar cells, as well as forecasts outlining the market potential for CIGS solar panels in the coming years.