BIG THINGS FOR NEWEST THIN FILM

NanoMarkets forecasts CIGS market will grow to US $3.7 billion in 2016
2011 February 25, (Display+)

"…According to NanoMarkets' [latest market analysis and forecast of the CIGS photovoltaics business], sales of CIGS are expected to grow from around $615 million this year to reach $3.7 billion in 2016. The report also notes that there are now more than 50 producers in the CIGS market, more than double the number of a few years back.

"NanoMarkets notes that this somewhat bullish forecast is based in part on the fact that CIGS is the only commercialized PV technology that can combine conversion efficiencies that are close to conventional PV with the thinness, and light-weight associated with thin-film PV."

CIGS: Already starting to rise in the market (click to enlarge)

"In addition, the report notes that the prospects for CIGS have been bolstered by the willingness of large firms such as Intel, Shell, Dow Chemical and LG to invest significant amounts of capital in CIGS even during a recessionary period.

"The market for conventional PV panels using CIGS as an absorber material is expected to reach $2.9 billion in 2016. However, NanoMarkets expects that 2016 will be when significant revenue will be generated by CIGS-based building-integrated PV (BIPV) with sales of this technology expected to reach $721 million by 2016."