Capacity Expansions Across Solar Industry Key Driver of Solar Laser Drilling Market

The 2015 Paris Agreement on Climate Change aims to limit the global average temperature rise below 2?C. This is likely to necessitate the reduction of energy-related carbon dioxide emissions by more than 70% by 2050, as compared to the 2015 levels. This can only be achieved with large-scale deployment of renewable forms of energy, including solar energy.
Solar energy is anticipated to be one of the essential pillars of environmentally-friendly power supply. Solar PV is expected to lead renewable electricity capacity growth, expanding by almost 580 GW by 2023.
Using a laser to drill holes is preferred, since it introduces energy selectively at the drilling position, with no mechanical contact of the drilling tool. As there is no tool wear-out, and laser emission can be organized precisely, the laser drilling process becomes highly reproducible and thus, facilitates efficient factory automation.
The share of solar energy exceeded 36% of all newly added power capacities in 2018. All solar photovoltaic power plants together accounted for just 2.2% of the world’s electricity output in 2018. Thus, despite the recent dominating role of solar in annual power generation, there exists vast untapped potential for solar energy and it is renewables.
Laser drilling is expected to act as a sustainable and diverse technology solution to efficiently transform solar radiation to thermal or electrical energy

Solar Photovoltaics to Drive Demand for Solar Laser Drilling

Solar energy is estimated to be the most effective renewable source in addressing the energy problem owing to the dwindling non-renewable sources of energy such as fossil fuels and increase in demand for electricity.
The global solar industry envisions to reduce the cost of electricity generation. Solar laser drilling industry is estimated to mark increasing opportunities by 2027, to meet the goal of low cost of ownership in industrial manufacturing through improved module efficiencies, reduced process costs and higher throughput.
Solar power enhances energy diversity and hedges against price volatility of fossil fuels, thus stabilizing costs of electricity generation in the long term. Low cost of solar is expected to attract several countries to consider this unique, flexible, and distributed clean power technology in the near future.

Key Manufacturers in Solar Laser Drilling Market