Building Integrated Photovoltaic Applications to Become Prime Target Segment of Companies in Organic Solar Cell Market
A new Transparency Market Research report states that the global organic solar cell market stood at US$25.5 mn in 2013 and is predicted to reach US$97.4 mn by 2020. It is expected to rise at a remarkable CAGR of 21.20% between 2014 and 2020. The title of the report is “ Organic Solar Cell Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020 ”.Organic solar cells present a way for converting solar energy into electric energy and are advantageous in comparison with conventional solar cells owing to the fact that they can be converted into various colors and shapes very easily. This makes them a preferred choice in applications demanding flexibility and design over efficiency. Furthermore, tax benefits and subsidies provided by various governments in favor of renewable power generation augments the growth of the market for organic solar cells. On the other hand, the reduced lifespan and decreased efficiency of organic solar cells ar...