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A LANDA GROUP COMPANY
PV Solar Market
Solar energy is poised to become
the world's largest single source of electricity
Global electricity generation forecast by source
(PWh/yr)
Source: DNV GL Energy Transition Outlook (2023)
Solar energy is poised to become the world's largest source of electricity.
Annual PV module
supply forecast
(GW)
Source: PV-Tech Manufacturing & Technology Report 2023
The solar energy market is growing dramatically. This trend is expected to continue for the foreseable future.
Cell production forecast by cell technology
TOPCon and HJT are expected to dominate the PV solar cell market.
Lumet is applicable to all PV solar technologies, including PERC, TOPCon and HJT.
The solar industry adopts value-adding disruptive technologies extremely rapidly
Annual PV module production cost
The PV solar market is extremely price-sensitive.
Cost efficiency is key. Cost decreases have plateaued as production efficiencies topped out.
The focus of the solar industry today is
leveraging advanced technologies in order to:
1. Increase PV module efficiency
Increase the watts generated per solar cell/module
Example:
-
Adopting advanced cell techologies such as TOPCon and HJT
2. Reduce Costs
Reduce material consumption in production
Examples:
-
Reducing wafer thickness to save polysilicon
-
Lowering silver consumption in cell production
PV Solar Cost per Watt
The segment of the PV solar value chain that has the greatest potential for increasing performance and lowering cost is solar cell production. The single largest cost of solar cell production is metallization.
©2024 Lumet Technologies Ltd. The information contained herein is subject to change without notice.
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