Greatcell Energy Pty Ltd founded post the acquisition of Greatcell Solar, poses significant opportunity being a world leader in perovskite-based 3rd generation solar power technology. Perovskite Solar Cell (PSC) technology presents immense opprotunities in the fields of IoT and Micro Device Power supplies, Building Applied Photovoltaic (BAPV) systems such as lightweight solar roof panels, Building Integrated Photovoltaic (BIPV) systems and stand-alone power generation to mention few.
Importance of PSC in Solar Power Generation
The importance of PSC in solar power generation lies to the fact that the perovskite can absorb light in a broader spectrum than conventional solar cells, Also, It has much higher solar to power conversion efficiency in comparison to the conventional solar cell in low light, such as indoors or under cloud cover. It can be produced at a lower cost since it does not require high temperature or high vacuum in the manufacturing process.
For an example: - Previously established thin-film rigid cells technology such as DSC offer conversion efficiency of around 11% at a higher cost than the PSC with a conversion efficiency of about 23.7%.
Interestingly, a recent study demonstrated the efficiency of PSC of around 26.3% when doped with graphene.
To Know More, Please Read: Perovskite Solar Cell Performance Enhanced to 26.3% with Graphene
Let’s now evaluate the business opportunity of Micropower for IoT devices using PSC technology, first phase of the Company toward commercialisation and revenue generation.
Micropower and IoT devices – Gauging Business Opportunity
Micropower is a power source for portable electronic devices. The deployment of Internet-of-Things, i.e. IoT's sensors and processors have created massive prospects for power source devices manufacturers. Attaching micropower devices to IoT opens all new avenues to increase the revenue to million dollars.
Also, it is worth mentioning that the market for IoT devices is growing exponentially, and it is anticipated to be around $5billion by 2022 in a market of $1.2trillion. Though photovoltaic (PV) is a small segment in this market but can have large opening seeing the massive business opportunity to the tune of billions and trillion.
Apart from PSC characteristics of higher cell voltage and better efficiency along with temperature and light stability, it eliminates the cabling cost for the building management via built environment sensor predominant in Western Europe and recognised as a source of creativity for this sector.
PSC Comparison to its Competition
Source: Greatcell Energy’s Information Memorandum, February 2020
As seen above, PSC offers reduced degradation and higher power density than its competitors. The PSC device chemistry is inorganic, demonstrating lower performance loss due to aging. Also, a new combination with graphene presented recovery of ~26%, creating optimism around the technology for its performance and operationality.
Advantage of Greatcell Energy
As Greatcell Energy stands as a leader in this field due to the Greatcell Solar IP’s and significant knowledge gain from the DSC devices manufacturing on flexible substrates in previous years. The stability of PSC devices for this environment has exhibited over a two year via an in-house stress testing programme.
Also, the Company is in discussions with IoT manufacturing and devise designers. It has signed MoUs with several entities including Printed Power Pte Ltd, Connected IO Ltd and Fusion Pay and collaborative projects in Italy (APOLO) plus new projects in planning in Italy, Finland (Tampere), and Singapore (NTU).
Interestingly the Greatcell Energy has partnered with the university and industrial allies which is anticipated to aid the development of PSC technology.
The Company is presently moving toward Micropower production, and the first sales are anticipated by the end of 2020. Also, recently Greatcell Energy through its wholly-owned subsidiary received €400,000 European Union (EU) funding through the Graphene Flagship Core 3 Project.
The tune of the Company's opportunity can be anticipated by the massive business case of its only one segment, i.e. Micropower and other opportunities still exist in case of BAPV, BIPV and large-scale production.
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