Maia Benstead explores the emerging technologies and trends for the growing solar power market 

Solar power is one of the fastest-growing renewable energy technologies globally. In 2024 alone, over 450 GW of new solar capacity was installed, contributing significantly to the 585 GW total global renewable energy expansion. Driven by surging energy demands, energy security concerns, and increasingly ambitious decarbonization goals, solar deployments are poised to accelerate further in the coming years. 

Currently silicon-based photovoltaics dominate the market, accounting for over 95 per cent of all installations. This market dominance is the result of decades of investment, policy support, and technological advancements that have substantially reduced the cost of silicon solar. However, silicon photovoltaics are approaching an efficiency limit. In addition, a supply chain concentrated in China and limitations in flexibility and application scope are prompting growing interest in alternative solar technologies. 

Thin film photovoltaics 

Thin film photovoltaics (PV), though currently representing a small fraction of the overall market, offer opportunities for diversification in solar energy applications. These technologies utilize ultra-thin semiconducting layers – often only nanometers to micrometers thick – making them lightweight, flexible, and ideal for non-traditional uses. Unlike conventional silicon solar cells, which are typically rigid and bulky, thin film solar cells can be deployed across a broader range of surfaces for a variety of applications. 

Despite their advantages, thin film PV technologies have historically struggled to achieve the same market foothold as silicon-based solar panels. This is largely attributed to the dominance of silicon PV, along with performance limitations, material constraints, and higher manufacturing costs. However, advancements in materials science, expanding applications and the development of novel technologies could help to drive renewed growth of the thin film PV sector over the next decade. 

Emerging applications driving market growth 

One of the key areas where thin film PV is gaining traction is in building-integrated photovoltaics (BIPV). Unlike traditional rooftop solar paneling, thin film solar modules can be seamlessly incorporated into architectural elements such as facades, windows, and exterior walls. Some thin film solar products are up to 90 percent lighter than conventional silicon solar panels, reducing the need for structural reinforcements and enabling deployment in urban settings where space and weight constraints are critical. BIPV could help to transform vertical surfaces into energy-generating assets, contributing to renewable energy targets, whilst minimally disrupting land usage. 

Another emerging application is in powering electronics and Internet of Things (IoT) devices. As smart devices proliferate, thin film PV is gaining traction as a sustainable energy source for small, often wireless, systems. These devices typically operate under low power and in low-light conditions, making them well-suited to thin film technologies such as organic photovoltaics (OPV) and dye-sensitized solar cells (DSSC). Efficiency is less critical in this context – as long as devices operate reliably, cost and adaptability become more important factors. Already, products like self-powered people counters, sensors, headphones, and keyboards are leveraging ultra-thin solar modules. Solar power reduces reliance on single-use batteries, minimizing maintenance and extending device lifespans. 

Perovskite solar cells: Boosting the solar market 

Perovskite photovoltaics are emerging as a potentially transformative technology in the solar market, praised for their high-power conversion efficiencies, lightweight design, and potential for low-cost, scalable manufacturing. Unlike traditional silicon, perovskite solar cells can be produced via solution-based processes such as roll-to-roll printing, using relatively abundant raw materials and supporting vertical supply chain integration. IDTechEx predicts that perovskite PV is on track to become lower in cost than silicon by 2035, as shown in its comprehensive report ‘Perovskite Photovoltaic Market 2025-2035: Technologies, Players & Trends’. 

Perovskite solar cells also enable tandem device architectures, where perovskites are layered with silicon or other materials to surpass the traditional 30 percent efficiency. By leveraging a well-established technology and supply chain, perovskite/silicon tandem cells are positioned to gain significant market share. By offering a greater power density per unit area at a similar price point to standard silicon panels, these tandem devices are highly attractive for both utility-scale and distributed power applications. 

Perovskites fundamentally suffer from durability issues and early concerns around stability and lifetimes, especially under harsh environmental conditions, have hindered commercialization. Significant progress in materials science has, however, improved perovskite solar stability. While standard solar lifetimes target 25 years, there are several pilot and early commercial perovskite PV projects which have demonstrated lifespans exceeding ten years, steadily closing the durability gap and bolstering market confidence. 

Future outlook 

The global solar industry is on an upward trajectory, propelled by technological innovation, supportive policies, and increasing demand for clean energy. While thin film photovoltaics have historically occupied a niche market, they could be reaching an inflection point. New use cases, especially in BIPV and wireless electronics, coupled with technological breakthroughs like perovskite solar cells, are helping to reshape the landscape. As the global demand for clean energy accelerates, emerging solar technologies are likely to play a significant role in the future of green energy.  

Maia Benstead 

www.IDTechEx.com 

Maia Benstead is an IDTechEx Technology Analyst. IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, it has been helping clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. 

research@IDTechEx.com 

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