PCCA Journal 1st Quarter 2014 - page 30

PCCA Journal|1
st
Quarter 2014
30
Power News
Continued from page 29
New Report Sees Growth in Global
Market for Alternative Solar Technologies
B
CC Research reveals in
its new report, “Global
Markets for Alterna-
tive Solar Photovoltaic
Technologies,” the global
market for alternative solar technologies
is expected to grow to more than $22.8
billion by 2018, with a five-year com-
pound annual growth rate (CAGR) of
10.5 percent.
Next-generation solar technologies,
including organic photovoltaics (OPVs),
multi-junction photovoltaics (MJPVs)
and concentrating photovoltaics (CPVs),
are starting to enter their commercial
viability stage. Over the next five years,
OPVs are expected to reach $149 million
in 2018, registering a 75.3 percent CAGR.
Meanwhile, MJPVs and CPVs are pro-
jected to grow to $1.8 billion, at a 42.8
percent CAGR.
Alternative solar technologies rep-
resent a significant and growing op-
portunity in markets around the world.
According to BCC Research, the cadmi-
um-telluride (CdTE) and Copper-Indium-
Gallium-(di)Selenide (CIGS) markets will
maintain healthy growth rates of just
under 10 percent annually with much
more significant market sizes of about
$7.9 billion and nearly $12.7 billion,
respectively, by the end of 2018.
“A key component of the most suc-
cessful alternative solar technologies
firms’ strategies from 2013 through 2018
will include concerted efforts to develop
business opportunities in the emerging
and frontier economies located outside
of North America, Western Europe, Ja-
pan, and Australia,” said BCC Research
energy analyst Bryan Boots. “While
growth will be strong in these regions,
even greater growth opportunities
may be found in regions such as Latin
America and the Caribbean and Africa
and the Middle East.”
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