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GaAs-based photovoltaics set for huge growth

Posted: 12 Dec 2008     Print Version  Bookmark and Share

Keywords:photovoltaic market  renewable energy  compound semiconductors  solar technology 

Strategy Analytics forecasts global terrestrial photovoltaic market to be worth Rs.101,073.51 crore ($20.2 billion) this year, and grow to Rs.176,128.09 crore ($35.2 billion) by 2012 at a compound annual average growth rate of 23 per cent.

The rapid growth will come from growing worldwide demand for renewable energy, and represents major opportunities for the compound semiconductors sector, according to Asif Anwar, Director of the GaAs service at Strategy Analytics.

"Crystalline silicon-based solar technology still has a dominating market share of around 89 per cent in 2008. However, moving forward, its share will be eroded as a result of competing technologies based on thin film and compound semiconductors," said Anwar.

"Thin film solar cells cost less and do not consume large amounts of crystalline silicon. Traditional crystalline silicon solar cell manufacturers, such as Q-Cells and Sharp, are involving in this new area."

Anwar added III-V based concentrated photovoltaic technology offers advantages of high cell conversion and lower material usage, and suggested these advantages will translate to CAAGR of 133 per cent through 2012, accounting for 10 per cent of the total market share.

-John Walko
EE Times Europe

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