According to ElectroniCast, the consumption value of LICs in Solar Photovoltaic (PV) power generation is forecast to grow from less than$1 million in 2011 to nearly $233 million in 2021.
ElectroniCast Consultants, a leading market & technology forecast consultancy, published their market forecast of the worldwide consumption of lithium-ion capacitors (LICs) used in solar photovoltaic (PV) power generation.
ElectroniCast estimates that in 2011, the worldwide consumption value of lithium-ion capacitors used in solar photovoltaic power generation applications will reach (only) $0.862 million; however, consumption value is forecast to increase at an average annual growth rate of 87.5 percent to $19.99 million in 2016. From 2016-2021, the total consumption value is forecast an increase 63.4 percent per year, reaching $232.88 million in the year 2021. (All values and prices in this report are at end-user levels, and are in current dollars, which include the effect of a forecast 5 percent annual inflation rate over the forecast period).
A capacitor is an electrical device that stores or releases electricity through rapid electrostatic reactions. Compared with a battery that stores electricity through slow chemical reactions, a capacitor makes it possible to charge and discharge electricity almost instantaneously with a long cycle life.
Lithium-Ion Capacitors (LICs) have a higher power density as compared to batteries and they are safer in use than Lithium-Ion Batteries (LIBs), since thermal runaway reactions may occur with LIBs. Compared to an Electric Double-Layer Capacitor (EDLC), the lithium-ion capacitor has a higher output voltage. They both have similar power densities, but energy density of a lithium-ion capacitor is higher.
According to ElectroniCast one of the main market driver for LICs with solar (PV) panels will be in conjunction with light emitting diode (LED) street/roadway lighting.
Although there is currently a huge build-up of existing inventory of PV solar panels, mainly due to the on-going global economic pressures, eventually the solar photovoltaic industry sector has an impressive outlook.
This 226-page market forecast report is available immediately from ElectroniCast Consultants (fee $2,800). For detailed information on this or other services provided by ElectroniCast, please contact Theresa Hosking, Marketing/Sales; thosking@electronicastconsultants.com
(Telephone/USA: 707/275-9397)
ElectroniCast Consultants – www.electronicast.com specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.
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