The need for solar energy, on account of the soaring pollution and global warming levels and increasing carbon emissions throughout the world, due to the widespread use of fossil fuels for energy generation, is rising. The other reason behind the surging demand for such devices across the world are the rising government initiatives and policies aimed at promoting the generation of solar power, to make its price reach parity with the power generated from non-renewable sources such as fossil fuels.
Dye-sensitized PV cells are used in a plethora of applications, such as portable charging systems, embedded electronics, solar chargers, outdoor advertising, emergency power-producing systems in the military, wireless keyboards, building-applied photovoltaics (BAPVs), building-integrated photovoltaics (BIPVs), and automotive-integrated photovoltaics (AIPVs). Out of these, BIPVs recorded the highest adoption of these instruments in 2017, mainly due to the numerous advantages offered by these cells, such as easier installation, lower weight, and higher performance-to-weight ratio, which enable the easy retrofitting of these cells on rooftops, glazed facades, and ceilings.
Browse detailed - Dye-Sensitized Solar Cells Market Revenue Estimation and Growth Forecast Report
The fastest growth in the adoption of these cells is expected to be observed in the Asia-Pacific (APAC) region in the coming years. This is mainly attributed to the growing utilization of these cells in BIPVs, BAPVs, and portable charging systems, in various countries in APAC. Moreover, the rising number of government policies in India, China, Vietnam, and Thailand, aimed at promoting the generation of solar energy, is predicted to further boost the adoption of dye-sensitized solar cells in the region.
Hence, it can be concluded that on account of the massive rise in global pollution levels and the resultant increase in the production of solar energy, the demand for dye-sensitized PV cells will witness a huge surge in the coming years.
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