Demand for Solar Cells and Modules will Continue to Grow as Countries Focus on Renewable Energy

Solar Cells and Modules are the core components of photovoltaic power generation systems, and their development level directly determines the development level of photovoltaic power generation. Since the invention of solar cells in 1954, after more than half a century of development, there are currently a wide variety of solar cells, and their conversion efficiency has also been significantly improved. According to different materials, solar cells on the market can be divided into three series: crystalline silicon solar cells (including monocrystalline silicon and polycrystalline silicon), thin film solar cells and photoelectrochemical solar cells (such as dyesensitized solar cells). Although both thin-film solar cells and dye-sensitized solar cells have achieved many major technological breakthroughs, it must be noted that most of these solar cells are still in the laboratory development stage, and their technical level, efficiency level and market acceptance are still unable to match. Among the practical solar cells, crystalline silicon cells have always occupied a monopoly position in the solar cell market.

Asia Pacific was the largest revenue market with a market share of 67.81% in 2015 and 67.68% in 2020 with an increase of -0.13%. Solar Cells And Modules Industry concentrate rate very high. The top three companies are Jinko Solar, JA Solar and Trina Solar with the revenue market share of 11.52%, 7.98% and 7.69% in 2019.

Types and Applications Segment of Solar Cells and Modules

Single Crystal Silicon panels are the oldest type of solar panel and the most developed. These solar panels are made from about 40 of the monocrystalline solar cells. These solar cells are made from pure silicon. Polycrystalline Silicon panels are also known as polysilicon (p-Si) and multi-crystalline silicon (mc-Si). Polycrystalline solar panels are produced by melting raw silicon and pouring it into square molds. These are then cooled and cut into square wafers.

The process for making polycrystalline silicon is less expensive and less complicated compared to monocrystalline silicon. Thus polycrystalline solar panels are about 20% cheaper than monocrystalline solar panels. Polycrystalline solar panels have lower heat tolerance.

Monocrystalline solar panels have higher efficiency rates, about 15 to 20% as they are made of the best quality silicon. They are space-efficient as they require less space to produce higher outputs. They have longer lives with many having over 25 years of warranty. They have been known to perform better than polycrystalline solar panels in low light conditions. The technology for making monocrystalline solar panels is the oldest and most developed among other solar panel technologies.

The typical residential grid connected system uses solar modules with 60 solar cells. For large commercial and utility scale solar systems, solar modules will have typically 72 solar cells. By increasing the number of solar cells, the module voltage and wattage increases. With the development of technology and the expansion of applications, Solar Cells and Modules solve the problem of powering a remote and mobile satellite ground station, where utility power is unavailable.

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Solar Cells and Modules Industry Development Trend

The energy issue has increasingly become a bottleneck restricting the international social and economic development. Due to the limited reserves of petrochemical energy on a global scale, and the use of petrochemical energy will cause serious environmental pollution, governments around the world have generally noticed the key position of various new and clean renewable energy in the future energy structure, and have increased their commitment to these energy sources. Among various new types of clean energy, solar energy is considered one of the most promising clean energy sources.

According to the European Photovoltaic Industry Association (EPIA) forecast, by 2030, renewable energy will account for more than 30% of the total energy structure, and solar photovoltaic power generation will account for more than 10% of the world\'s total electricity supply; to In 2040, renewable energy will account for more than 50% of total energy consumption, and solar photovoltaic power generation will account for more than 20% of total electricity; by the end of the 21st century, renewable energy will account for more than 80% of the energy structure, and solar power will account for more than 80% To more than 60%. This shows that photovoltaic power will occupy an important strategic position in the future energy structure and will become a major form of energy in the future.

The cost of the module assembly accounts for 40%, and the remaining part accounts for 60%. Except for module assembly, the rest belong to the manufacturing process of semiconductor materials and chips, which are greatly affected by the technical level of the processing and manufacturing process, while the technical level of module assembly is relatively small, but it is affected by the cost of raw materials, so the cost of solar cell and modules is very sensitive to the technical level and market environment. It can be predicted that with the improvement of technology, the total cost of silicon ingot growth, slicing and cell processing will show a continuous downward trend, which will further promote the continuous reduction of the power generation cost of solar cells and modules. From the perspective of reducing the cost of solar cells and modules, continuous reduction of the raw material cost and continuous improvement of processing technology will undoubtedly be the basic way to reduce the cost of solar cells and modules.

According to our research, the global Solar Cells And Modules Industry Market has a total sales value of 29499.3 M USD back in 2015, and increased to 37618.1 M USD in 2020. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of Solar Cells And Modules Industry Market markets can be 44998.8 M USD by 2025. The CAGR of Solar Cells And Modules Industry Market is 3.89% from 2019 to 2025.

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