Introduction NanoMarkets has been tracking the DSC photovoltaics...

Introduction

NanoMarkets has been tracking the DSC photovoltaics market for some years now. In the last couple of years, significant developments have taken place in terms of lab-scale cell efficiencies as well as commercial perspective, thereby enabling several commercial providers to offer DSC panels in the near future.
The changing dynamics in the worldwide PV industry have forced DSC makers to look into economically resilient off-grid applications. Low-light driven DSC solutions for consumer electronics and building-integrated photovoltaic (BIPV) applications are considered as the largest potential markets for DSC.
Chinese Impact and Enhanced Cell Efficiency

In the past five years, the global PV market, especially the US and European markets, has affected by pricing pressures implied by the Chinese PV panel manufacturers. An oversupply of solar PV panels due to subsidy-supported production resulted in price drop from the level seen in 2007.
As a consequence, even large Chinese PV panel makers witnessed losses. Considering current trends, the Chinese government is not likely to extend further subsidies to the several financially troubled solar companies.
Consolidation or closure is the only option available for less resourceful Chinese solar PV panel manufacturers and is essential to restore the balance in the global solar PV space. European manufacturers are also facing pricing pressure due to reductions in government subsidies. This trend also extends into emerging PV technologies such as DSC.
However, the positive sign is that the consolidation of smaller companies and reasonable Chinese government subsidy schemes will put a check on low-cost solar panels in the years to come.
Furthermore, the gaining traction of protectionist measures, such as anti-dumping laws, must deliver the DSC market much needed relief. Nevertheless, the DSC industry needs to find ways to ease commercialization obstacles, and get sufficient financial aid from the governments and the private investment community. Technological developments witnessed in the last couple of years have helped DSC technology to address efficiency concern.
Challenging Path to Commercialization

Changing dynamics in the Chinese solar industry and protectionist measures taken by the United States and European nations are positive signs for new solar PV entrants. Nonetheless, established DSC players like G24i and Dyesol have to find ways to maintain financial viability.
G24i faced financial problems in 2012, but then reborn as a new company under the name G24i Power Limited, with a new strategy that gives importance to process improvement initiatives to provide competitive alternatives in the consumer electronics sector. However, NanoMarketsexpects that while G24i Power might prompt the DSC commercialization process, its success relies on consumer response and the ability to develop market relevant products on a regular basis.
Similarly, Dyesol’s move to reinforce its solid-state material IP portfolio and commercialization efforts can be solidified through the company’s recent partnership with Nanyang Technological Institute. Dyesol’s acquisition of an equity stake in Printed Power Pte Ltd, a NTU spinoff, will help the company to penetrate the new market for fully printed Combined Energy Generation and Storage (CEGS) solutions.
If everything takes place as expected, Dyesol might to be able to introduce a DSC-based low indoor light sensor network to the market within the next two years. According to NanoMarkets, Dyesol needs to convince investors of the value proposition of solid-state DSCs and must have the ability to achieve mass scale deployment of commercial solutions to achieve commercial success.
Tata Steel (Europe) in partnership with Dyesol developed the world’s largest DSC panel for steel-based BIPV applications in 2011. However, large-scale production has not yet taken place. Currently, the Colors division of Tata Steel (Europe) is focusing on DSC research to evaluate the performance and commercial potential of DSCs. Successful technology development and production planning to commercialize DSC-enabled steel roofing and building facades is likely to happen.
Nevertheless, considering Tata’s cautious approach in the DSC commercialization space,NanoMarkets doubts the realization of the large-scale production of DSC-based BIPV solutions in the immediate future. Fujikura’s (Japan) have taken initiatives to commercialize low-light solutions. The company began shipping DSC module samples in April 2013. Currently, it delivers DSC-based panels in small volumes for evaluation. NanoMarkets expects that Fujikura has the potential to become a key DSC player in the low-power consumer applications segment.
Key Developments in the DSC Market

In July 2013, the EPFL-researchers achieved 15% cell efficiency under standard AM 1.5 test conditions by replacing a liquid electrolyte with a solid-state perovskite material, marking the possibility of commercializing solid-state DSCs. In another work, the University of Basel (Swiss) and Merck are evaluating the use of a cobalt-based electrolytic system as an alternative to conventional DSC electrolytes. The use of cobalt holds potential to improve the stability of next-generation DSCs without adding to the cost. NanoMarkets expects that these early successes with solid-state DSC technology and new material sets hold potential for the future commercialization of DSCs and could attract the interest of more investors.
Opportunities in the DSC Market

In the recent past, DSC manufacturers have realized that targeting niche applications that can reach market within the next three-five years is the way to establish a presence in the PV industry. BIPV is a potential market for DSCs considering their ability to provide semi-transparent glass. The market potential is tremendous, especially in Europe due to favorable legislation for the construction of near zero-emission buildings. Nevertheless, manufacturers are still challenged with large-volume production of DSC modules with lifetimes of roughly 20 years.
NanoMarkets anticipates that with a few years of successful commercialization experience, the DSC industry will be ready to compete in the BIPV space. At the moment, on-grid and utility-scale generation are not in the cards, but this scenario could change if any technological development is able to considerably improve the long-term stability of DSCs in outdoor conditions. Energy harvesting is another potential market for DSCs, especially for rapidly growing indoor applications.
Conclusion

DSC is basically a superior technology as it has the maximum probability of transforming an incident photon into electrical current. A comprehensive material knowledge base and the availability of standardized production device should, therefore, facilitate high production yields in the years to come. In addition, NanoMarkets anticipates that the recently increasing efficiency trend and outstanding price to performance ratio will be the driving factors for DSC commercialization in the years to come. Furthermore, since DSC PV currently contends in off-grid applications and knows its potential in BIPV applications, the impact of reducing subsidies may not be significant.
About Nanomarkets

NanoMarkets is a leading provider of market research and industry analysis of opportunities within advanced materials and emerging energy and electronics markets. Since the firm’s founding, NanoMarkets has published over one hundred comprehensive research reports on emerging technology markets. Topics covered have included OLED displays, lighting and materials, thin-film electronics, conductive inks, transparent conductors, renewable energy, printed electronics and other promising technologies. Our client roster is a who’s who of companies in specialty chemicals, materials, electronics applications and manufacturing.