A study on organic photovoltaics
Organic photovoltaics are the organic solar sells that helps in converting solar energy into electrical energy by absorbing light from the sun.Organic solar cells or plastic solar cells are the photovoltaics in the process which converts by photovoltaic effect by making use of organic electronics, I.e organic polymers or small organic molecules for the purpose of light absorption.
The Global Market Of Organic Photovoltaics is predicted to rise at an annual compound growth rate of about 5% and reach at a value of about approximately 90 million U.S. Dollars in the upcoming six years by around 2023.This growth will be subject to the market driving factors influencing the growth of the marker industry of organic photovoltaics at a global level.
Despite of some limitations of this market industry including the following-
- The lack of reliability, with respect to the working time period of organic photovoltaics. The lifetime of the usage of organic photovoltaics lasts only upto a period of approximately two to three years at a stretch maximum which acts as a hurdle in its market growth.
- Another limitation associated with organic photovoltaics is the efficiency. The efficiency levels of it is very low regarding the usage which again acts as a major factor hampering its market growth.
Since the market driving factors working towards increasing the market growth of organic photovoltaics industry overpowers its limitations, the market industry is expected to continue witnessing immense growth in the future.
Major market is driven by its benefits and uses which are as mentioned below.
Uses and benefits of organic photovoltaics
- Use of organic photovoltaics will be helping in understanding, studying, solving and addressing the environmental health issues. Apart from this it will assist in resolving the global energy needs and issues related to that. In all it is going to be a profitable venture for the environment.
- The capital expenditures involved in organic photovoltaics are relatively very low,which again acts as a factor that counts the benefits of making use of it.
- The organic photovoltaics works and performs extremely well as per the user’s expectations with respect to the indoor lighting conditions.
- The energy production costs associated with them are extremely low as compared to the other energy producing alternatives available in the global market.
- There are being enormous developments and improvements continuously with respect to time in the technology of organic photovoltaics which are helping their market industry to move towards the commercial market at a global level.