Spurring Growth: Changing PV market dynamics and technology advances

Several developments have occurred in the PV market. These include the entry of new players, increase in wafer sizes to increase in the power output of modules and commercialisation of new technologies. Technologies such as heterojunc­­t­i­on, bifacial modules and perovskite cells are being increasingly explored. However, in 2020, silicon-wafer based PV technol­ogy accounted for 95 per cent of the total production, with monocrystalline technology accounting for 84 per cent of the total crystalline-silicon production.

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