PEROVSKITE SOLAR CELL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Instability issues can hamper the growth of perovskite solar cell market. Perovskite solar cells contain organic-inorganic metal halide perovskites as the light-harvesting material. However, the material is highly susceptible to moisture and oxygen degradation, which affects the long-term stability and durability of the solar cells. When exposed to humid conditions or atmospheric oxygen, the perovskite material breaks down within a few hours or days. This instability issue translates to a shorter useful lifetime for perovskite solar panels as compared to conventional silicon-based solar panels. Such reliability concerns can hamper mass adoption of the technology.

Market Opportunity: Integration in building integrated photovoltaics

Integration of perovskite solar cells into building integrated photovoltaics (BIPV can offer opportunity for the market growth. Perovskites offer flexibility and semitransparency, making these well-suited for applications like windows, roofs and facades that can generate solar power while serving an architectural function. As the built environment accounts for around 40% of global electricity consumption, BIPV could make a major contribution to reducing carbon emissions.