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According to Technavio's latest market research report, the global thin-film solar PV module market is expected to grow at a CAGR of more than 16%
during the period 2018-2022.
However, the market momentum is expected to decelerate due to
declining year-on-year growth.
The key factor driving the growth of the market is the reduction in the
amount of silicon required for manufacturing.
Thin-film solar panels are made of one or more thin layers of PV material, which are laid on a substrate, which is more than 300 times
smaller than traditional silicon solar panels.
The type of substrate used in manufacturing is the differentiating medium
in thin-film solar panels.
Thin-film solar panels are the lightest due to the use of small PV cells with built-in semiconductors
.
Silicon materials are used less often because these panels are several times smaller than traditional solar PV panels, which will have a limited impact
on the environment.
The report pointed out that the increase in the penetration rate of microgrids is also one of the main factors promoting the
stable and rapid growth of this market.
A microgrid is a mini-grid with its own power generation and storage resources
.
Microgrids can operate independently or in tandem with other minigrids
.
A microgrid integrated into the main grid is called a hybrid microgrid
.
To operate in grid-tied mode and island mode, microgrids can be connected and disconnected
from the grid.
Microgrids can be converted to island mode
during mains grid outages or when the system is intentionally disconnected from the mains grid.
Areas with frequent outages due to unstable power grids use microgrids to protect consumers from blackouts
.
"Microgrids are often used in areas
where access is not available and the grid has limited power.
Microgrids are reliable because they are not affected by
power outages in the main grid.
In addition, they reduce the cost of
extending the grid to remote locations.
Now, microgrids may get their electricity from renewable sources such as solar and wind," said
a senior analyst at Technavio.
The Americas region was the world's largest regional market for thin-film solar PV modules in 2017 and is expected to continue to dominate the global market
during the forecast period.
According to Technavio's latest market research report, the global thin-film solar PV module market is expected to grow at a CAGR of more than 16%
during the period 2018-2022.
However, the market momentum is expected to decelerate due to
declining year-on-year growth.
The key factor driving the growth of the market is the reduction in the
amount of silicon required for manufacturing.
Thin-film solar panels are made of one or more thin layers of PV material, which are laid on a substrate, which is more than 300 times
smaller than traditional silicon solar panels.
The type of substrate used in manufacturing is the differentiating medium
in thin-film solar panels.
Thin-film solar panels are the lightest due to the use of small PV cells with built-in semiconductors
.
Silicon materials are used less often because these panels are several times smaller than traditional solar PV panels, which will have a limited impact
on the environment.
The report pointed out that the increase in the penetration rate of microgrids is also one of the main factors promoting the
stable and rapid growth of this market.
A microgrid is a mini-grid with its own power generation and storage resources
.
Microgrids can operate independently or in tandem with other minigrids
.
A microgrid integrated into the main grid is called a hybrid microgrid
.
To operate in grid-tied mode and island mode, microgrids can be connected and disconnected
from the grid.
Microgrids can be converted to island mode
during mains grid outages or when the system is intentionally disconnected from the mains grid.
Areas with frequent outages due to unstable power grids use microgrids to protect consumers from blackouts
.
"Microgrids are often used in areas
where access is not available and the grid has limited power.
Microgrids are reliable because they are not affected by
power outages in the main grid.
In addition, they reduce the cost of
extending the grid to remote locations.
Now, microgrids may get their electricity from renewable sources such as solar and wind," said
a senior analyst at Technavio.
The Americas region was the world's largest regional market for thin-film solar PV modules in 2017 and is expected to continue to dominate the global market
during the forecast period.
